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Peer-To-Peer Car Sharing in Victoria BC

by host on Tuesday, October 10, 2017 8:49 AM

What customers need to know about peer-to-peer car sharing services

​Peer-to-peer car sharing services are promoted by companies that use their websites to connect vehicle owners with individuals interested in renting a car for a short-term. Companies that provide the online platform for peer-to-peer car sharing do not own the vehicles being rented. In some areas, the service includes insurance but this is not the case in B.C. In B.C., vehicle owners are responsible for having their own vehicles appropriately insured.

Who is responsible for insuring a vehicle used for a peer-to-peer sharing program?

The vehicle owner is responsible for obtaining insurance for their vehicle.

What coverage must an owner have on a vehicle they use for peer-to-peer car sharing?

Vehicles must be assigned an appropriate U-drive rate class. Please note, vehicles used for peer-to-peer car sharing do not qualify as car share use.

In addition, it is important that owners carry adequate coverage, including third-party liability insurance, because owners are responsible for the liability caused by the people renting their car. Vehicle owners should also consider getting a conversion coverage policy. This policy will protect the owner in case the renter doesn’t return the vehicle.

What happens if the vehicle is involved in a collision while being rented? 

If a vehicle is involved in a crash while being rented and the owner does not have adequate coverage, the owner may be held personally and financially responsible for any resulting damages.

Any at-fault claim could affect the owner’s future insurance rates.


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