Car Sharing Sites - What Personal Insurance Do I Need?
Discussion
Hello all,
I'm looking at renting out my car on car-sharing services like Turo, Hiyacar and Karshare, as my car mostly sits on the street outside my home. Most of these services say that we don't even need to tell our current insurance, and it's a clear policy exception in most of the booklets, so that is wrong, and I don't want to be in a situation where insurance companies ban me in the future!
It's so vague, and there are no insurance recommendations that are provided by these companies that do allow it. It's so frustrating because these services obviously provide separate insurance for the duration of the booking, so why should it impact my personal insurance that protects me, named drivers and the miles I drive?
Anyway, does anyone else use any of these services and could provide any advices/recommendations or insurance brokers they've used to resolve this issue? Do I need business car insurance? Thank you all in advance!
I'm looking at renting out my car on car-sharing services like Turo, Hiyacar and Karshare, as my car mostly sits on the street outside my home. Most of these services say that we don't even need to tell our current insurance, and it's a clear policy exception in most of the booklets, so that is wrong, and I don't want to be in a situation where insurance companies ban me in the future!
It's so vague, and there are no insurance recommendations that are provided by these companies that do allow it. It's so frustrating because these services obviously provide separate insurance for the duration of the booking, so why should it impact my personal insurance that protects me, named drivers and the miles I drive?
Anyway, does anyone else use any of these services and could provide any advices/recommendations or insurance brokers they've used to resolve this issue? Do I need business car insurance? Thank you all in advance!
Turo lays it out pretty clearly for you: https://turo.com/gb/en/how-turo-works/vehicle-prot...
You don't need to inform your insurer because they aren't insuring it. It's no different to not having business cover on your personal policy because your business has a policy covering you for using your own car for business purposes - T&C's apply, read the small print etc.
You don't need to inform your insurer because they aren't insuring it. It's no different to not having business cover on your personal policy because your business has a policy covering you for using your own car for business purposes - T&C's apply, read the small print etc.
Hi Chucklehead,
To be clear, under the section on "Do I need my own vehicle insurance?" - they still say, "In the event of an incident, you wouldn’t need to contact your personal insurance provider, although we recommend you check the terms of your personal insurance policy to confirm it’s OK to share your car on Turo."
They basically contradict what they are saying instantly - this is why I find it so confusing. I contacted Tesco Bank to tell them what I plan to do, and they said they said it's too much of a risk, even if third parties are to cover the insurance for the duration of the booking.
On this page "Sharing your car | UK Hosts", it states, "Your insurer’s response to car sharing will depend on their specific policies.", however, most insurers do have this exception to car sharing. AA for example, say it's fine, but only if you're not profiting from it.
To be clear, under the section on "Do I need my own vehicle insurance?" - they still say, "In the event of an incident, you wouldn’t need to contact your personal insurance provider, although we recommend you check the terms of your personal insurance policy to confirm it’s OK to share your car on Turo."
They basically contradict what they are saying instantly - this is why I find it so confusing. I contacted Tesco Bank to tell them what I plan to do, and they said they said it's too much of a risk, even if third parties are to cover the insurance for the duration of the booking.
On this page "Sharing your car | UK Hosts", it states, "Your insurer’s response to car sharing will depend on their specific policies.", however, most insurers do have this exception to car sharing. AA for example, say it's fine, but only if you're not profiting from it.
Is this any different to when you drop your car in for a service at the local dealership. You have insurance covering the car, but while it's in the garage's care, it is covered by their insurance policy and so if their mechanic crashes the car on a test drive, you won't need to notify your insurer or involve them at all? Not sure why Tesco Bank thinks it represents too much of a risk - if anything it's reducing their risk?!
Chris
Chris
I completely agree with you, it seems ridiculous to me, I've contacted them twice to see if I get a different result, but they came back with the same response both times. At this point in time, it feels like me journey to renting out my car is over unless I switch insurers, but no insurers clear states they allow us to use these third-party services. I've contacted a few brokers though.
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