Peer-to-peer car sharing has increasingly become a popular way for car owners to make more money by renting their cars out to other people via platforms such as Turo. Benefits of this include generating extra income and reducing one’s personal environmental impact. However, before making your car available through a peer-to-peer car sharing program, it’s important to read what your auto insurance policy says.
On December 6, 2023, in their Reuters article, “Sharing Is Caring With Proper Auto Insurance: Why Car Sharing Can’t Catch a Brake,” Berger Kahn attorneys Erin Ezra, Mallory Yumol, and Robert Chan discussed the risks car owners face when they do not have the proper auto insurance to cover accidents resulting from personal car sharing. Erin, Mallory, and Robert describe the current state of insurance law regarding personal vehicle sharing programs and urge participants to check if their insurance policy covers car rentals.
Read more on Reuters.com >> https://www.reuters.com/legal/legalindustry/sharing-is-caring-with-proper-auto-insurance-why-car-sharing-cant-catch-brake-2023-12-06/