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.

 

 

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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. 

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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.

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