How the Nearby Guarantee works
A plain-English explainer of the Nearby Guarantee: what it protects, what discretionary goodwill means, and why it is not insurance.
4 min read
Lending something you own to a person you haven't met takes a bit of trust. So does borrowing. The Nearby Guarantee is one of the ways we try to make that easier, especially for lenders.
It's also easy to misunderstand, so this post explains it in plain English: what it does, what the words mean, and what it isn't. The full terms are on the Nearby Guarantee page, and if anything here ever reads differently from that page, the page is what counts.
What the Nearby Guarantee is
The Nearby Guarantee protects lenders. If a rented item is accidentally damaged or stolen during the rental period, Nearby may make a goodwill payment to the lender of up to €2,000 per item, at Nearby's discretion.
A few things are worth pulling out of that sentence:
- It's for the lender. Any payment goes to the person who owns the item.
- It covers accidental damage and theft. Those are the two situations it's designed for.
- It applies during the rental period. From the time the rental starts to the time it ends.
- There's a cap. The most Nearby may pay is €2,000 per item. If you own something worth more than that, the Guarantee won't cover its full value, so bear that in mind before you lend it.
- It comes with every rental. Borrowers pay the listed price plus a 12% service fee, and there's no separate charge for the Guarantee on top. See our pricing page for how fees work.
What "discretionary goodwill" means
These two words are the heart of it, so it's worth being precise.
Goodwill means the payment is Nearby choosing to help, not a debt Nearby owes. It's a way of standing behind the people who lend on our platform.
Discretionary means Nearby decides, case by case, whether to make a payment and how much it is, up to the cap. Every situation is different, and we look at each one on its merits.
Put together, the Guarantee is a promise that we'll take a problem seriously and may help put it right. It isn't a promise that every request will be paid in full.
Why it is not insurance
The Nearby Guarantee is not insurance. You don't buy it, it isn't a policy, and no one is entitled to a payment under it. Any payment is at Nearby's discretion. That isn't a technicality. It's a different thing, and we'd rather you knew exactly what you're relying on.
In practice that means:
- Keep your own arrangements if you need them. If an item matters a great deal to you, check what protection you already have for it before you lend it.
- Think about value before you list. Because the Guarantee has a cap, it's best suited to everyday items worth up to €2,000.
- Don't treat it as permission to be careless. For borrowers, the Guarantee is not a reason to take risks with someone else's things. Borrow it the way you'd want your own things borrowed.
How to make it less likely you'll ever need it
The best outcome is a rental where nothing goes wrong. A few habits help a lot, whichever side of the rental you're on.
If you're lending:
- Describe the item honestly in your listing, including any existing marks or quirks.
- Use messages on Nearby to explain how the item works and anything to watch out for.
- Agree clear pickup and return times before the rental starts.
- Check the item together at pickup and again at return, so you both agree on its condition.
If you're borrowing:
- Read the listing and ask questions in messages before you book.
- Use the item only for what you agreed, and follow the lender's instructions.
- Return it on time, clean, with everything it came with.
- If something goes wrong, tell the lender straight away. Honesty early makes everything easier to sort out.
Reviews are left after rentals, and over time they're one of the clearest signals of who takes care of things.
This post is a summary. The Nearby Guarantee page sets out the full terms, including what's covered, what isn't, and what to do if something goes wrong. It's worth reading before you lend anything valuable.
Nearby is live in Dublin. If you've got something useful sitting idle at home, you can list it on Nearby and lend it with the Guarantee behind you. Or, if you need something for a weekend, browse what's available near you.