Tool Squire Protection Plan: How It Works Worry less when you rent—protect yourself from unexpected costs

What is the Protection Plan?

The Tool Squire Protection Plan is an optional add-on via our app for renters. If a covered tool is accidentally damaged or stolen during your rental, the plan can pay the owner for repairs or replacement—so you won’t have to pay the owner directly (up to $500 per rental, after a $50 deductible).

What’s Covered?

• Accidental damage to eligible tools during your rental period (up to $500 per rental)
• Theft of eligible tools, as long as a police report is filed within 48 hours and reasonable precautions were taken

What’s Not Covered?

• Heavy equipment (these items are not eligible for the plan)
• Damage from misuse, neglect, or breaking Tool Squire’s rules
• Normal wear and tear or cosmetic issues
• Anything that happens outside your rental period

How Does It Work?
Add the Protection Plan when you book your rental. If something happens:

• Report the issue within 24 hours through the Tool Squire platform.
• Provide photos and a description of what happened. For theft, include a police report.
• Pay a $50 deductible if your claim is approved.

Tool Squire pays the tool owner for repair or replacement costs (up to $500 per rental), so you’re protected from owing those costs directly.

Important Details

• The Protection Plan does not replace your own insurance.
• Not every tool is eligible—heavy equipment is always excluded.
• Claims are reviewed by Tool Squire and are subject to approval.

Questions? Reach out to Tool Squire Support through our platform if you have any questions or want to learn more about the Protection Plan.

Add the Protection Plan at checkout for extra peace of mind on your next rental!

Tool Squire Protection Plan Terms & Conditions

Effective Date: 20 Aug 2025

1. Introduction

The Tool Squire Protection Plan (“Protection Plan” or “Plan”) is an optional service offered by Tool Squire LLC (“Tool Squire,” “we,” “us,” or “our”) to provide limited coverage for certain damages to eligible tools rented through the Tool Squire platform. By enrolling in or utilizing the Protection Plan, you (“User,” “Renter,” or “Lessor”) agree to the following terms and conditions.

2. Coverage Summary

Coverage Limit: The Plan provides coverage for repair or replacement costs of eligible tools, up to a maximum of $500 per rental transaction. Deductible: Each approved claim is subject to a $50 deductible, payable by the user making the claim. Eligibility: Coverage applies only to tools and equipment expressly listed as eligible on the Tool Squire platform. See Section 4 for exclusions.

3. What is Covered

Subject to these Terms, the Plan covers: Accidental physical damage to eligible tools occurring during an active rental period, provided the damage was not due to misuse, neglect, or prohibited activities as outlined in Tool Squire’s general Terms of Service. Loss due to theft, provided a police report is filed within 48 hours of discovery and all reasonable precautions were taken to secure the tool.

4. What is Not Covered

The Protection Plan does not cover: Heavy equipment items (as defined by Tool Squire and identified in the listing process).
Damage resulting from intentional acts, gross negligence, improper use, or violation of Tool Squire’s Terms of Service. Normal wear and tear, cosmetic damage, or pre-existing conditions.
Loss or damage occurring outside the active rental period. Any item not specifically listed as eligible for coverage. Consequential damages, loss of income, or any indirect damages.

5. Claims Process

Notification: All claims must be submitted through the Tool Squire platform within 24 hours of the incident or discovery of damage.

Documentation: The claimant must provide:

• Photos of the damage
• A description of the incident
• Any relevant supporting documentation (e.g., police report for theft)

Assessment: Tool Squire will review the claim and may request additional information. Tool Squire’s determination regarding claim approval and payout amount is final.

Deductible Payment: Approved claims require payment of the $50 deductible before any reimbursement or repair/replacement is initiated.

Payout: If approved, Tool Squire will pay the lesser of (a) the actual repair or replacement cost, or (b) $500, minus the deductible.

6. User Responsibilities

Users must take reasonable care of all rented tools and comply with all applicable laws and Tool Squire platform rules. Any attempt to misrepresent facts or submit fraudulent claims will result in denial of coverage and potential removal from the platform.

7. Limitations and Disclaimer

The Protection Plan is not an insurance policy and does not replace the need for personal or business insurance. Tool Squire reserves the right to modify, suspend, or discontinue the Protection Plan at any time, with or without notice. Participation in the Plan does not guarantee claim approval or payment.

8. Governing Law

These Terms & Conditions are governed by the laws of the Commonwealth of Virginia, without regard to its conflict of laws principles.

9. Contact

For questions or claims, contact Tool Squire Support through the platform or at support@toolsquire.com.

By enrolling in or using the Tool Squire Protection Plan, you acknowledge that you have read, understood, and agreed to these Terms & Conditions.