Tuesday, September 5, 2017

Origin Story...

It all started innocently enough. My son introduced me to Turo and much to my delight it seemed to be the perfect fit to our Santa Cruz Airbnb rental (greenstreetbungalow.com). We could now provide guests with the option of renting a vehicle from us.

As I ran out the door to get the coolest, sportiest convertible I could find (naturally, since I would get to drive it some of the time), my wife yelled, not so fast Sherlock. Drat!

"What if there's an accident?" she said.

"No problemo," says I with a smirk. They have their own insurance!"

​"But what if the accident exceeds their coverage," she adds.

"What if the sky falls down," as I'm always quick to add when I know I've been outgunned.  I realize at this point that it will take a little longer until I'm sipping Mai Tai's on the beach. Back to some serious planning with a pout on my mug. At any rate, It shouldn't take long to get the answers I need to fill my quiver, you would think?

You might be shocked to learn that the answers to cash flow, personal liability, financial exposure, insurance coverage options and successful strategies were far from straight forward and way more difficult to obtain than I expected.

This site is my attempt to understand the risks and rewards of peer-to-peer car sharing.

Hopefully, the posts that follows will save you time and help keep you financially safe and secure as you decide if this is right for you.

Note - I've focused so far on Turo but will be adding more information on Getaround and Outdoorsy soon.