The Comprehensive Guide to Car Sharing and Your Insurance Policy
Ride-sharing has become an affordable, convenient, hassle-free, and environmentally-friendly transportation strategy in Ontario. However, these new ways of getting around do have an impact on insurance coverage. Do you get separate car-sharing coverage or use traditional auto insurance? Before you embark on car-sharing as a service provider, you must understand how it implicates your auto insurance. What Is a Car-Sharing Service and How Does It Work? A car-sharing service is a peer-to-peer car rental service that allows people to rent their cars to others who need them. The beauty of it, it eliminates the long-term commitment and expenses of owning a car. The service usually has a fleet of vehicles available at different locations in your city or neighborhood. The process is simple: Sign up for a car-sharing service via an app or website. Use the car-sharing app to find a car that is available nearby. Unlock the car with a smartphone. Run errands, appointments, or take trips using the vehicle for as long as needed. Return and park the car at the same designated parking spot. You typically pay by the hour or by the day for car-sharing services. The total cost will depend on the car of choice,
