Markets in Everything: Neighbor Car Sharing
Now, new services are taking this model a step further. Instead of using a fleet of Zipcars, RelayRides, WhipCar, Spride Share, and Getaround allow car owners to rent out their vehicles to their neighbors when they’re not in use.
“Economically, it makes a ton of sense for both sides,” says Shelby Clark, the chief executive officer of RelayRides, which currently operates in Boston and San Francisco."
MP: See RelayRides price list above for car sharing in Cambridge, MA. Hourly rental fees range from $5.50 for a 2001 VW Jetta Wagon to $12.00 for a 2003 Ford F-350.
HT: Kevin Hassett
Do I need my own insurance to borrow a RelayRides vehicle? Nope!
How does insurance work?During your reservation, RelayRides protects you with our best-in-class $1,000,000 comprehensive insurance policy. This means you don't need your own insurance - hooray savings! Should you be involved in an accident, you'll only be liable for a $500 deductible, which we'll lower by $100 if you're prompt about reporting damage yourself.