What is a security allowance?
Every listing has a separate amount displayed for an owner's security allowance. The security allowance acts very much like a security deposit. It is there to protect owners from any incidents during the trip.
The security allowance is not charged at the time of booking. However, per GetMyBoat's terms of service, if an owner makes a valid claim post rental GetMyBoat may charge a renter's credit card up to the full amount of the security allowance if sufficient evidence can be submitted by the owner to verify the claim.
Some examples of what the security allowance may be used for:
- Minor damages
- Gas fees not collected at the time of return
- Additional rental hours
- Additional equipment rentals
- Cleaning fees
- Deductible amount for valid insurance claims
In case of a dispute over a claim on the security allowance, GetMyBoat encourages renters and owners to at first try to work out the dispute amongst themselves. If both parties cannot come to an agreement, GetMyBoat reserves the right to decide a fair and appropriate resolution based on evidence submitted by both sides. If a party disagrees with the final resolution, they may settle the dispute directly with one another or they can opt for arbitration through an objective 3rd party company.
Claims on the security allowance must be made within 48 hours of the rental return.