Peer Guarantee At Tryilo

INTRODUCING OUR "PEER GUARANTEE"

Tryilo is committed to creating a safe and trusted sharing community across Ireland and provides insurance (which will be referred to here as the ‘Peer Guarantee’) in order to protect the verified members of the site from loss or damage to the items they list for rent on our site.

The product owner seeking payment under the Tryilo Peer Guarantee agrees to cooperate with Tryilo through the provision of documentation of the claimed loss and by agreeing to an inspection on the rare occasion when it may be required.

In order to claim, the product owner must not have been convicted of or charged with any offence (with the exception of motoring offences) during the past 5 years; must never have been subject to a court judgement, a debt relief order (DRO), an individual voluntary arrangement (IVA) or to bankruptcy proceedings; must never had an insurance policy cancelled, refused or declined or had any special terms imposed and must have not made in excess of 3 insurance claims over the past 5 years.

In order for a claim to be processed under the "Peer Guarantee", the product owner must do the following:

  • Take photos or a video of the item before renting it out. We recommend taking these on a smartphone where timestamps are applied automatically.
  • If the item has a core function we will also require a video of this in action. Example: if it’s a drone, take a video of it flying; if it’s a sound equipment, a video of it in operation where we can hear the sound. This is required in order to prove that it was working immediately prior to the rental.
  • If the item happens to be returned to the product owner damaged Tryilo must be notified within 24 hours of the end date of the rental. We also strongly recommend that borrowers take timestamped pictures/video when collecting rented items from the product owner.

PEER GUARANTEE CONTINUED

Our insurance is provided exclusively for lenders and there is no requirement for an excess to be paid in order to claim. Borrowers are free to take out their own insurance though another company. Borrowers are fully liable for any damage caused to the item while it is in their possession and must take full responsibility and pay for a replacement if they happen to destroy or lose a particular item. Borrowers will also be required to pay in full for any damage that may be caused or if the item gets stolen, broken, lost or confiscated during the rental period. Failure to do so will result in legal action being taken.

The claims process will require the completion of the following steps:

  • The issue must be reported to Tryilo within 24 hours of the end of the rental period.
  • The product owner must contact the borrower in order to establish if the issue can be resolved simply. Borrowers are liable for any damage caused to an item while it is in their possession so it's often cheaper and quicker for them to organise a repair or replacement with the product owner directly. 

  • If a resolution cannot be reached directly or if the product owner would prefer not to communicate with the borrower we will be happy to intervene. We will subsequently require the provision photos or a video of the item to prove that it was rented out in full working order as well as video/photographic evidence showing the damage. The product owner who wishes to claim will also be asked to gather as much documentation as possible to submit to Tryilo in support of the case such as photos, receipts, a Garda report (if items got stolen or lost), and any other documentation that proves ownership, highlights damage or estimates the fair market value of items damaged. The documentation will then be reviewed in order for us to evaluate the payment request.
  • If the borrower denies causing damage to the item and it is unclear if the damage was their fault or not, then we may ask the product owner to get the damage confirmed or verified by a reputable third party. As soon as we have established that the harm to the item was the borrowers fault (as opposed to a technical malfunction or prior damage) we will organise payment immediately.

PEER GUARANTEE CONTINUED

It is important to us that our members feel comfortable lending out your possessions on Tryilo and are committed to doing everything we can in order to make the process as efficient and stress free as possible. 

The Tryilo Peer Guarantee does not cover public liability and we therefore do not cover any injury or damage that might occur to any person or their property as a result of an item malfunctioning while it is rented out. We also do not cover any costs that any malfunction may incur including but not limited to legal costs, medical bills, loss of earnings of others and replacement or repair of damaged property.

Tryilo does not provide cover for loss of earnings either through the site or off-platform. We are therefore unable to provide reimbursement for any rentals or work that cannot be completed because an item is in the process of being repaired or replaced. However, we do promise to resolve any issue as quickly as possible so that the product owner is not left without an item for an extended period. Because we are conscious of the fact that that a lot of lenders use their items in their own profession as well as renting them on Tryilo our disputes team are ruthlessly efficient at resolving claims and disputes quickly.

Each item is covered up to its full new retail value provided that is not in excess of 200 euros. If an item is worth more than that just let us know and we can usually add your item to the insurance policy once we've gathered the details. 

Tryilo insurance is designed to cover all of your items and almost everything is covered. However, we have listed a few exclusions below:

  • Cars, motorcycles, scooters and any vehicle for which a licence is required to drive.
  • Real estate (eg. Houses, apartments or land)  
  • Chemicals, liquids or any consumables 
  • Weapons (obviously!)
  • Any other items listed as prohibited items in the Tryilo Terms & Conditions

PEER GUARANTEE CONTINUED

The Peer Guarantee does not protect against reasonable wear and tear but is instead designed to provide protection against rare instances of damage. Claims usually take between 48-72 hours after all documentation has been submitted.

A security deposit is the most convenient way to insure your items for even the slightest damage and the claim process with this method is quick and easy. Providing you have proof (pictures, video etc.) of the damage caused the claim could be processed just 24 hours later. The deposit for the item will be paid full or part depending on the damage cost. If the item is rented with a deposit our Peer Guarantee does not apply for that rental period.

Items are only insured during the agreed rental period and Tryilo reserves the rights to cancel the cover or claim of the any product at any time for any suspicious reason. Tryilo reserves the right to change or edit the Peer Guarantee policy at any time without informing members of any changes.

We compiled a list of frequently asked questions here.
The Peer Guarantee is free for all of our verified Tryilo product owners.