Insurance Coverage Summary
TNERIT L.L.C (the ‘Policyholder’) (‘tnerit’) has obtained a liability insurance policy for the benefit of registered tnerit online platform users (the ‘Covered Persons’) against certain losses that could occur in the course of renting (borrowing) or renting out (lending) an item via the tnerit online platform in the UAE pursuant to the platform’s Terms & Conditions.
The policy comes at no cost to the Covered Persons and tnerit assumes no responsibility for the adequacy or continuity of cover. This document does not constitute a contract with the Covered Persons.
This document summarizes the key features of the policy. It is not a part of the policy. Please read it carefully because if Covered Persons do not comply with the terms of the policy it may affect cover.
Who is entitled to the tnerit Insurance and how do I get it?
You must be a registered user of the tnerit platform.
The associated rental transaction must have been accepted and paid through the tnerit platform.
The item listed on the platform must have an accurate, completed and up-to-date checklist “on file” with tnerit.
What is covered?
The insurance policy covers losses of Bodily Injury or Item Damage up to USD 10,000 for each and every transaction.
The insurance will not cover an excess amount of 5% of the value of the item, entered by the Lender on the online platform, for each and every transaction.
What is not covered?
The insurance policy does not cover Bodily Injury or Item Damage losses arising out of or in connection to:
- wear and tear or excessive use of the item;
- acts which violate the online platform’s Terms & Conditions;
- items which violate the online platform’s Terms & Conditions;
- items not being described accurately on the online platform;
- defects or characteristics of the item not listed in the item description;
- contact between the Lender and Borrower outside the online platform;
- deliberate acts, omissions, fraud, dishonesty, malicious or criminal acts;
- theft and disappearance;
- acts or attempts of Terrorism.
- Diya and/or Arsh;
- claims for financial or economic losses, including loss of earnings;
- fines, penalties, punitive and exemplary damages;
- claims brought in a court outside of the UAE. Note: The most important exclusions in the tnerit insurance policy have been summarized above. The policy contains other, more extensive, exclusions which do not appear in this list.
To find out more about the exclusions, please contact tnerit by using the 'Reach us' function on the app or website.
What do I have to do when a damage or injury occurs:
If you were harmed or injury was caused to you by the item, please reach out to tnerit within 24 hours from the rent end date. You will be required to provide details of the harm or injury, the date on which such harm or injury occurred, as well as the location where this harm or injury was committed.
If damage has been caused to your item, please use the “Reach us” function on the app or website within 24 hours from the rent end date.
For Third Parties:
If you were harmed or an injury was caused to you by the item, you are required to provide the details of the harm or injury, the date on which such harm or injury occurred, as well as the location where this harm or injury was committed within one (1) year from the rent end date.
Please note that it is very important that you do not admit liability, enter into any negotiations, or agree to pay or settle any third party demands for compensation.
All loss notifications will be sent by the Policyholder to the Insurer. Please note that the Policyholder does not provide any claims handling services. The Insurer will handle claims and make all claim payments through the Policyholder.
At all times (unless not possible) the Borrower must return the item to the Lender. The Lender will keep the damaged item as long as the claim handling procedures are in progress.
In case of a total loss – item is damaged and cannot be repaired and cannot be used for its purpose – the Insurer retains the right to claim ownership of the damaged item (item must be sent to tnerit, and tnerit will then send it to the Insurer) after indemnifying the claimant.