Is this “Voluntary Parting” nonsense specific to KitSplit or is this more widespead in the industry. Anyone know? For example when I rent my car thru Turo they say the same thing.
Saw an article about a jewelry company gave a million and a half dollars worth of inventory to a fake armored car company and their insurance company denied the claim due to this exclusion and it was upheld on appeal, ouch.
They say it's a standard exclusion
>There are no gear rental insurance providers that cover voluntary parting when the renter purchases the policy. This treatment of voluntary parting is standard in the insurance industry and is not unique to KitSplit.
(I'm guessing a policy that covers "voluntary parting" is cost prohibitive. I guess it sorta makes sense - otherwise you wouldn't have an incentive to vet anyone.)
As an aside, I encourage everyone to always read their full insurance polic(ies), misunderstanding about insurance coverage is common.
They may care to weigh in.