When we speak to car owners who are interested in sharing their car with others, their first question is often: What about insurance? It comes as no surprise – renting out your vehicle to others can be a daunting undertaking, but we are here to put your mind at ease and remind you of all of the safety procedures put in place to make your car sharing experience as comfortable as possible.
Our policy at Karshare is pretty straightforward: you are always covered.
“From the start we have been impressed by Karshare’s risk management approach comprising driver vetting and driver behaviour scoring [...] and we very much look forward to working with them to help develop their business.”
Jon Dye, QBE
We are proud to be partnered with QBE Insurance, one of the world’s largest insurance companies, who insure every single rental for Karshare and will cover any incidents that may arise as a result.
A vehicle that is shared on our platform is covered by this fully comprehensive insurance throughout the entire rental period – from pick up to drop off, with a replacement value of up to £50,000.
This means that in the unlikely event that a renter has an accident while driving your car, you will be fully covered and will not have to cover the cost for any repairs.
If the damage made requires your car to be taken away for repair, we will also provide you with a courtesy car so you are not left without a vehicle at any point.
If your vehicle is damaged during a rental booking but the renter has not notified us about it, you should report it to us immediately by taking photo evidence of the damage and sending it to firstname.lastname@example.org. The Karshare team will investigate the damage using the condition report photos that are taken at the start and end of reach rental booking which the renter is required to provide to us. If the investigation determines that the damage was caused during the rental booking, Karshare will arrange and pay for any repair required for your car. Your personal insurance and no claims policy will not be affected if the damage occurred during the rental booking.
Karshare completes DVLA checks on every renter before enabling them to book a vehicle on our platform. Our unique driver telematics technology also tracks all bookings for driving quality. Telematics are built into the Karshare mobile app and track speed, acceleration, braking and your car’s location during a rental booking. Based on these factors, the telematics will determine a driving score for each renter and relay it to them throughout their journey, encouraging renters to drive with care.
In the minor event of a breakdown while a renter is out on the road with your vehicle, Karshare’s breakdown partner RAC will be on hand to help out. We have a bespoke keyword that will ensure the RAC will send someone as soon as possible, which is given to our renters ahead of time.
Fines & charges
If you receive a fine or charge for your vehicle that occurred during a rental, such as speeding tickets or parking fines, the Karshare team will ensure that this is paid by the renter. We ask that you send us a picture of the fine or charge document to email@example.com as soon as you receive it.
Your own insurance will never be affected during a car rental, however it is important that you maintain insurance at all times while your vehicle is available on Karshare. This is because your car will remain under your own insurance in between rental bookings.
Should your personal policyholder require more information or permission for you to share your vehicle, you can send them this letter, kindly supplied by QBE, to provide assurance.
Our team will always be on standby to support you with any queries or issues you may have while your vehicle is being shared on our platform.
For more details, you can view our full insurance policy here.