Insurance Policy

1.1 Purpose

This Insurance Policy explains the role of insurance within the Tool-O marketplace and clarifies the respective responsibilities of Tool-O, Owners and Borrowers regarding insurance coverage and risk management.

The purpose of this Policy is to promote transparency regarding insurance arrangements while helping Users understand their own responsibilities when participating in the Platform.

1.2 Objectives

This Policy seeks to:

• explain the Platform's insurance position;

• clarify User responsibilities;

• encourage responsible risk management;

• reduce misunderstandings regarding insurance;

• support informed decision-making;

• promote marketplace transparency;

• comply with applicable legal obligations.

1.3 Scope

This Policy applies to:

• Owners;

• Borrowers;

• Bookings;

• listed equipment;

• damage events;

• loss events;

• liability arising from use of rented equipment;

• any insurance-related matters connected with the Platform.

1.4 Guiding Principles

Tool-O administers this Policy in accordance with the following principles:

• transparency;

• accountability;

• fairness;

• responsible risk management;

• User awareness;

• legal compliance.

1.5 Relationship with Other Policies

This Policy should be read together with the:

• Terms of Use;

• Claims Policy;

• Payment and Payout Policy;

• Trust & Safety Policy;

• Owner Standards Policy;

• Borrower Standards Policy;

• Marketplace Enforcement Policy;

• all other Platform policies.

1.6 Updates

Tool-O may amend this Insurance Policy from time to time.

The latest version published on the Platform replaces all previous versions.

2.1 General

Tool-O provides an online marketplace that facilitates equipment rental between Users.

Unless expressly stated otherwise in writing, Tool-O does not represent that any Booking, User, tool or transaction is covered by insurance.

2.2 User Responsibility

Owners and Borrowers are each responsible for determining whether they require insurance appropriate to their individual circumstances.

Users should carefully consider obtaining suitable insurance before participating in the marketplace.

2.3 Owner Responsibilities

Owners are responsible for determining whether they require insurance relating to:

• ownership of equipment;

• accidental damage;

• theft;

• loss;

• public liability;

• business activities;

• transport of equipment;

• any other relevant risks.

2.4 Borrower Responsibilities

Borrowers are responsible for determining whether they require insurance relating to:

• use of rented equipment;

• accidental damage;

• liability arising from use;

• theft;

• loss;

• transportation;

• workplace activities;

• any other risks associated with the equipment.

2.5 No Guarantee of Coverage

Tool-O does not guarantee that:

• any User maintains insurance;

• any particular event is insured;

• any insurance claim will be accepted;

• any insurer will provide coverage;

• any policy will respond to a particular loss.

2.6 Existing Insurance Policies

Users should review their own insurance policies to determine whether existing coverage applies to activities undertaken through the Platform.

Tool-O does not provide advice regarding the suitability or scope of any insurance policy.

2.7 Claims Between Users

Where damage, loss or liability arises during a Booking, Users remain responsible for managing any insurance claims with their own insurers where applicable.

Tool-O is not responsible for administering insurance claims unless expressly stated otherwise.

2.8 Disclosure

Users should not represent to another User that insurance exists unless they reasonably believe that representation is accurate.

Misleading statements regarding insurance may constitute a breach of Platform policies.

2.9 Changes to Insurance Arrangements

If Tool-O introduces any optional insurance products or insurance partnerships in the future, details will be published separately and may be subject to additional terms and conditions.

2.10 Responsible Risk Management

Tool-O encourages all Users to carefully assess the risks associated with each Booking and to obtain appropriate insurance and professional advice where necessary before renting or using equipment.

3.1 User Risk Assessment

Before participating in a Booking, Users should assess the risks associated with:

• the equipment;

• the intended use;

• the operating environment;

• transportation arrangements;

• the experience of persons operating the equipment;

• any other relevant circumstances.

3.2 Safe Operation

Insurance should never be regarded as a substitute for safe and responsible behaviour.

Users remain responsible for operating equipment safely and in accordance with:

• manufacturer instructions;

• applicable laws;

• workplace safety requirements;

• industry standards where applicable;

• Platform policies.

3.3 Equipment Condition

Owners are encouraged to ensure that listed equipment is maintained in a condition suitable for rental and that any known defects or limitations are accurately disclosed before a Booking.

3.4 Incident Reporting

Where an incident involving rented equipment occurs, Users should promptly:

• take reasonable steps to protect people and property;

• notify emergency services where appropriate;

• notify the other User where reasonably practicable;

• preserve relevant evidence where safe to do so;

• report the matter through the Platform where required.

3.5 Claims and Evidence

Where damage, loss or liability is alleged, Users should retain relevant evidence including:

• photographs;

• videos;

• receipts;

• repair quotations;

• communications;

• other documents reasonably relevant to the incident.

3.6 No Insurance Advice

Information published by Tool-O regarding insurance is provided for general informational purposes only.

Tool-O does not provide insurance, financial or legal advice and does not recommend any particular insurer, policy or insurance product.

Users should obtain independent professional advice where appropriate.

3.7 Third-Party Insurance Providers

Where Tool-O refers Users to third-party insurance providers or makes insurance information available, Tool-O does not:

• guarantee the suitability of any policy;

• guarantee policy availability;

• guarantee premiums;

• guarantee claim outcomes;

• endorse a particular insurer unless expressly stated.

Insurance products offered by third parties remain subject to the terms and conditions of the relevant insurer.

3.8 Liability Allocation

Nothing in this Policy alters the allocation of legal responsibility between Users or limits any rights or obligations arising under the Terms of Use or applicable law.

Insurance arrangements between Users and their insurers remain separate from the contractual relationship between Users and Tool-O.

3.9 Future Insurance Products

If Tool-O introduces optional insurance products or protection programmes, Tool-O may publish supplementary terms explaining:

• eligibility;

• coverage;

• exclusions;

• claims procedures;

• premiums or fees;

• any other applicable conditions.

Such supplementary terms will prevail in relation to those specific products where applicable.

3.10 Responsible Risk Management

Tool-O encourages all Users to actively manage risk through responsible behaviour, appropriate maintenance, safe operation, accurate disclosure and suitable insurance arrangements where appropriate.

4.1 Governance

Tool-O is responsible for administering this Insurance Policy and may maintain internal procedures to promote transparency regarding insurance responsibilities and risk management within the Platform.

4.2 Compliance

Users are expected to comply with this Policy, the Terms of Use and all applicable laws relating to insurance, liability, consumer protection and the use of rented equipment.

Nothing in this Policy excludes, restricts or modifies any rights or obligations that cannot lawfully be excluded.

4.3 Policy Review

Tool-O may periodically review this Policy to reflect:

• legislative changes;

• regulatory developments;

• insurance market developments;

• operational experience;

• User feedback;

• evolving marketplace practices.

4.4 Risk Management Review

Tool-O may periodically review its approach to insurance-related matters and risk management to improve:

• User awareness;

• marketplace transparency;

• operational resilience;

• safety initiatives;

• claims processes;

• overall marketplace integrity.

4.5 Insurance Developments

Where Tool-O introduces optional insurance products, insurance partnerships or other risk protection initiatives, supplementary terms may be published to explain their operation.

Those supplementary terms will apply only to the relevant products or services.

4.6 Relationship with Other Policies

This Insurance Policy should be read together with the:

• Terms of Use;

• Claims Policy;

• Payment and Payout Policy;

• Trust & Safety Policy;

• Owner Standards Policy;

• Borrower Standards Policy;

• Marketplace Enforcement Policy;

• all other Platform policies.

Where there is any inconsistency, the Terms of Use prevail to the extent permitted by applicable law.

4.7 Contact

Questions regarding this Insurance Policy may be directed to Tool-O using the contact details published on the Platform.

4.8 Policy Updates

Tool-O may amend this Insurance Policy from time to time.

The latest version published on the Platform replaces all previous versions.

4.9 Commitment

Tool-O is committed to providing clear information regarding the role of insurance within the Platform while encouraging responsible risk management by all Users.

4.10 Final Statement

Tool-O operates as a marketplace connecting Owners and Borrowers and does not assume responsibility for providing insurance unless expressly stated in writing.

Users are encouraged to carefully assess their own insurance needs, obtain appropriate professional advice where necessary and ensure they understand their individual responsibilities before participating in any Booking.

END OF INSURANCE POLICY