In this article, you'll learn how Excess Insurance impacts your bookings, how claims are processed, and what documentation is needed, as well as how it is shown on the rental agreement.
You do not need to do anything differently if a Traveller has taken out Excess Insurance. In the event of damages or additional booking costs, the Goboony support team will process the claim via Rental Cover, and you will be paid into the same bank account that you receive your hire earnings. We require the same documentation from you, whether or not the Traveller has Excess Insurance.
- GoForm stating the damages/additional costs and signed by both parties
- Photos of the damage
- Repair invoice
- Proof of payment, e.g. a card receipt, screenshot of a bank transfer or a ‘paid’ invoice issued by the repair company.
If a Traveller has taken out excess insurance, the deductible per damage will be shown as £400 on the rental agreement. Although the Traveller's liability is lowered, you are still protected up to the security deposit amount that you have set on your advert. Anything over £400 will be paid out by Rental Cover.
If the Traveller has paid the full security deposit amount, the deductible per damage will be shown on the rental agreement in line with the amount set on your advert at the time the booking was confirmed.