Using car share offers a convenient way for car owners to list their personal vehicles online and let others rent it out.
Consumers have gravitated towards this route as an easy way of getting around urban areas for short-length tasks that typically would take longer using public transit. Need to make a grocery run or pick up a new desk for your home office? Using car share with apps such as Turo can get users there quickly with the click of a few buttons, and the car owner profits from extra income.
Car share is different from rideshare as the owner does not have to be present during the process when the vehicle changes possession.
Equipping yourself with an insurance policy to help provide coverage while the vehicle is being rented and delivered (when the vehicle leaves the owner’s departure location until the time it reaches the delivery address), and is a good step to ensuring this is a positive experience.
Rideshare Insurance Made Easy and Effective
Insurance policies for car share typically include third-party liability, family protection coverage, physical damage, standard accident benefits and much more. Additional coverages are available. We can assist you in understanding what they are and finding gaps that you may not have previously considered.
NFP will also help you evaluate if your vehicle is able to participate in the car share marketplace, as some insurers may not offer this ability to its policyholders. We can help guide you through each available coverage and ensure it meets your needs.
Before listing your vehicle on a car share marketplace, consider whether the insurance plan covers damage inflicted to your vehicle while it is being rented. Car share coverage does not cover normal wear and tear on your car.
Car share insurance coverage will help make sure you’re comfortable with someone else behind the wheel. Talk to us today about what is available and how we can help you earn extra income through renting your car.