Winter: the time of year most of us start to ache for a vacation. Whether it be a warmer climate or someplace where cold-weather activities are plentiful, you may need a vehicle. You may even consider renting one through popular carsharing companies.
American peer-to-peer carsharing companies are a way to skip the rental counter and rent a car, with a local host, similar to booking a vacation house. Companies allow private car owners to rent out their vehicles via an online and mobile interface in more than 56 countries. Here are some useful tips if you are thinking of going this route:
- Your personal auto policy will more than likely not cover your peer-to-peer rental. Investigate the coverage that is offered through the carshare company policy that is presented to you, this will help you make an informed decision as to whether you want to rent a vehicle this way.
- Many of these popular car sharing companies offer an insurance policy of their own that has three levels for renters: Premium, Basic, or Decline. If you don’t take their insurance policy, vehicle owners provide their own policy which falls under “commercial rental coverage”. The cost varies by owner and vehicle and it is paid for outside of the car-sharing marketplace.
- Most credit cards will not offer car rental coverage for peer-to-peer car-sharing companies, unlike corporate rental agencies. If you are looking to rent through the car-sharing marketplace and your card typically offers car rental coverage, it would be worth calling the number on the back of your card to ask about the extent of coverage.
- Your personal policy and credit card should cover rental from a commercial rental agency. Check with your agent to be sure you have the coverage you need for whichever path you decide to take.
Overall, you as the consumer need to be aware of what your insurance responsibilities are. Just like with any other auto rental company, do your research. To ensure the best protection if you choose this route, just give us a call!