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4 facts about car sharing

Published on September 6, 2017


The sharing or collaborative economy, a growing global trend, has really taken off in Quebec over the past few years. Airbnb, Uber or Turo are just a few examples of fast-growing companies that are part of this phenomenon. Car sharing, the automobile branch of the sharing economy, has experienced tremendous growth over the last few years. Are you thinking of sharing your vehicle? The L’Unique General Insurance team has gathered some facts you should consider before deciding whether or not to get on board!

1. Your auto insurance does not cover your vehicle while it is being shared

The insurance industry has gradually been adapting to the growing trend of the sharing economy. That’s necessary, because sharing platform users expose themselves to risks of damage and legal problems.
Renting your vehicle for money, or using it for paid transportation of passengers, constitute commercial activities that are generally excluded from insurance coverage.

2. Before using your vehicle for commercial purposes, call your broker

Your broker can tell you what your current auto insurance policy covers and what it doesn’t cover. He or she can also advise you on the coverage required for this type of vehicle use. As well, your broker can recommend the recognized car sharing platforms.

3. The car sharing platform used may provide insurance coverage that’s adapted to the sharing of vehicles

Check the insurance coverage provided by the platform being used. Some of them include adequate insurance coverage in their service offering.
This applies, for example, to Turo, which allows individuals to rent out their cars to other individuals for a day, week or month. Founded in 2009 in San Francisco, this free and safe car sharing service is gradually becoming more accessible in Canada thanks to agreements signed with several insurers, including L’Unique!

When you rent out your vehicle on this platform, it's automatically covered by Turo’s comprehensive commercial insurance and roadside assistance during each rental period.

4. It’s essential for you to ensure the services offered are legal

Some services can only be offered legally by persons who hold the required permits and authorizations. If you have any doubts, ask your broker!

Your insurance broker is there to help you prevent losses. Feel free to contact him or her!