What's the maximum amount we are willing to pay?
Acme House Company Damage Waiver Policy (AHC)
Program Explained:
AHC charges damage waiver fees to guests, vs collecting a security deposit. We acknowledge that keeping a deposit is a better deterrent than a damage waiver, however, the credit card industry is not supportive of management companies in credit card disputes, making it unlikely to keep deposits, making a waiver a better option for this reason. The other argument is due to reviews. You can keep a deposit but with sometimes multiple low reviews at risk, this can be a hollow victory.
Think of Damage Waiver as gap coverage, to bridge the gap between your deductible on your homeowners/liability policy. Acme desires to have a fast way to settle losses of house furnishings and amenity items that fall between $100 and $5,000. $5,000 and above we rely on your insurer. When an item is broken or damaged we evaluate the situation, then if covered, repair or replace it or pay you the replacement cost. If an item is over $5,000 we will pay you $5,000 and let you make a claim or not, to your insurance.
Guest damage applies when an item is not already worn out, or nearly so, suffers a drop. Spill, or heavy usage that results in its sudden deterioration to be unsightly or unusable.
Items such as kitchenware, bedspreads, pillows, bedding, etc, are items always wearing out and going missing over the years at rental homes. Outdoor items such as chairs, chaises, tables, umbrellas, pillows, etc, get caught up in the wind and take a lot of sun damage, so they are not covered unless the guest damage is very obvious.
Other items can feel like guest damage however we treat them as wear and tear. Examples would be a rug that slowly is very stained, not one big stain all at once, shower head falls off, sliding door falls off the track and breaks, or guest flushed wipes down the toilet resulting in a backup. These things can feel like guest damage but they also happen during regular use, so it is incidental that the guest was the last person to touch it.
What is the process for damage waiver?
- Our team notices the damage or guests report it.
- We alert the owner right away, we may not have coverage determination yet, the idea is to speed along the resolution
- If an owner notices damage please report with pictures and any cost or source info for the item to actionitem@acmehouseco.com
- Acme evaluates if it is covered per our policy on coverage, with approval or not in 2 business days
- Regardless of whether it is covered or not, we will work to source and deliver the replacement item.
- We will purchase and have sent to our location.
- Or, once we agree on the amount you can order and provide the do so if you request first in writing.
Conditions:
We also reserve the right:
- To deny coverage if the item needed replacement anyway, regardless of the new damage.
- To adjust the payment if the item is more than 50% higher in cost, than comparable items, From onboarding, and in your owner agreement, we request that items be commercially available and not overly costly, rare or irreplaceable, when furnishing your home. Therefore we reserve the right to swap out items of similar quality or to a reasonable standard and price.
- To adjust reimbursement if you purchase the item without agreement
- To prorate If the item is 70% or more toward the end of useful life
- To repair items versus replace, we use the 10’ rule. If you can see the repair easily from 10’ away, we should replace it.
- To buy from another seller than you purchased
Guests who cause damage should be held responsible right? Yes they should, but this is just not very practical. Acme will cooperate fully in any case, to help you or your insurance company in the process of your loss recovery from a guest. Acme will never directly seek reimbursement for guest damage to guests even if it appears intentional. As sorry as we would be if this was the case, recovery through court or small claims, is simply not a process that yields any results. We rely on insurance to handle losses.
Any dispute resolution regarding this policy are controlled by your exclusive contract with Acme
Thank you very much. If you have questions or concerns, please feel free to submit them at
Yours Truly,
Mike Flannery
President
Acme House Company, Inc