Millions of people know about home-sharing websites, but a growing number of services are connecting vehicle owners with prospective renters. In short, you can earn extra cash by renting your car to others.
Companies like Turo and Getaround make renting out your car simple, and they offer services in several cities. Vehicles listed on these websites range from the functional to high-end luxury, and renters are able to review their rental experience for others to see.
If you are considering offering the use of your vehicle to others for money, consult first with your insurance agent. While some personal auto insurance companies may cover accidents occurring during the rental, others won’t. The financial consequences of not having insurance for an accident could be devastating. Don’t leave it to chance.
