Upcycle offers varying levels of contractual reimbursement for physical damage and theft — the level of protection varies with the plan you choose. For physical damage reimbursements, hosts are responsible for the deductible amount, which varies by plan, and then Upcycle would reimburse the rest of the eligible repairs up to the lesser of replacement cost or up to $5,000, depending on your plan.
With each plan, you’ll earn a percentage of the total rental price and be responsible for different deductible levels. When choosing a protection plan, remember that the higher the percentage of the rental price you earn.
The deductible is the amount you are responsible for before Upcycle pays for theft or damage. We define the term "deductible" as the portion for which you are responsible in case of physical damage to your bike during a trip before qualifying for reimbursement. Hosts bear the responsibility for the initial deductible amount, which differs based on the plan. Subsequently, Upcycle would reimburse the remaining expenses, subject to specific terms and exclusions, up to either the replacement cost of the damaged part or $5,000, whichever is lower. Upcycle is not an insurance company, and physical damage reimbursement is not insurance.
For instance, if your guest breaks your Sram GX AXS rear derailleur and the eligible damage costs to your bicycle is $500, and you chose the 60 plan, you’d be responsible for the first $50 of damages, and Upcycle would pickup the remaining $450. If the damage costs are $50, you’d be responsible for the entire damage bill unless you resolve the claim directly with your guest.