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Turo Inc. is an American peer-to-peer carsharing company based in San Francisco, in the United States.The company allows private car owners to rent out their vehicles via an online and mobile interface in four countries (the United States, Canada, United Kingdom, and Australia) [4] and new corporate owners to rent out their cars in France in addition to the four previous countries.
Peer-to-peer carsharing is a form of person-to-person lending or collaborative consumption, as part of the sharing economy. [1] The business model is closely aligned with traditional car clubs such as Streetcar or Zipcar (est. in 2000), [2] but replaces a typical fleet with a ‘virtual’ fleet made up of vehicles from participating owners. [3]
In 2014, the British insurance company Guevara introduced the peer-to-peer insurance concept for car insurance in the UK., [13] whilst Friendsurance, in cooperation with the insurance industry, expanded the peer-to-peer insurance concept to include existing insurance policies whilst keeping price and service for the existing policy unchanged. [14]
Peer-to-peer car rental app Turo is in the spotlight after it confirmed the two vehicles used in deadly New Year's Day attacks in Las Vegas and New Orleans were rented on its platform.
But though Zipcar controls 75 percent of the $400 million and growing car-sharing market in the U.S., there may be a smarter way for you to get a temporary set of wheels on the cheap: peer-to-peer ...
Rental car insurance works the same way as regular auto insurance: you pay a certain amount of money in exchange for an insurance company’s agreement to cover losses and claims up to an agreed ...
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