James Kyriakou

How can I insure rentals from damage?

Hi there, I'm looking for a way that I can take a "security bond" for an item that I'm renting out. Eg: I want to put my generator on Gum Tree for rent. The generator is worth $2,000 so I'd like to take a pre authorised payment of $1,000 just in case the renter doesn't return the item, or it's broken beyond repair. Does anyone know of a way that I can take a bond without the money having to come out of the renter's account? How can I insure it from damage? Thanks in advance.




2 Answers

Lisa Ormenyessy

Lisa Ormenyessy Business Coach and Marketing Specialist at Straight Talk Group

Hi James - it appears that you have a link in the last sentence of your question to your answer.  I am not sure if this is a system generated link or a marketing techinique you are using.  Either way follow the link as it will asnwer your question.  Cheers, Lisa. 

Marcus Tjen

Go see an insurance broker and tell them what insurance you need. It shouldn't be too different from Uber insurance or Air BnB insurance.