Unfortunately, KitSplit couldn't go back in the past and write policies like this.

Reminds me of a quote from Fight Club - "Sometimes you've got to crack a few eggs to make an omelette" ~ Tyler Durden

Yes, it was a huge oversight, but the past is the past. A bad thing had happen. But, KitSplit has now taken corrective actions to fix this as well as prevent this from happening in the future.

I don't think this is the time to disparage their service because of one incident. It was unfortunate, but .. come'on the author is a big boy as well. He could've read the complete TOS before hand. After all, he's parting ways with a $3,500 piece of equipment. He didn't have a problem writing a blog about this and expected people to read what he wrote. So, why not see exactly what you're getting into.

The internet has been around for quite a while now, and there's always scammers out there (on both ends).

Moving forward, I would hope that KitSplit not only ensures these insurance policies but do some trail-blazing a little bit on this type of thing.

A couple of ideas - 1. Maybe have their policies clearly written on their platform. Or better yet, address this on the homepage and create a "how-to" video on this so people know how the new policy will be enforced.

2. Trackability - Add a required tracking mechanism to be placed on the device, so if it is stolen/manipulated it can be easily reported to the an authority

3. Fraud form - Create an easy to use form for reporting stolen items. This data can then be sent to the local police, etc to try to find and capture the culprit. Basically, it could do the things that are in KitSplit's policy.

4. Expose a monthly report on incidents like that and the amount refunded/recouped.

These are just at the top of my head. I'm sure they could think of more ways to ensure that everyone on all sides are being honest.