Released: March 17, 2012

Share a car, risk your insurance

Source: Ron Lieber, The New York Times

At first glance, the idea of person-to-person car sharing appears to be the perfect solution to any number of problems. People with idle cars (and most cars are idle most of the time) can make some money by renting them out to others who need a car sometimes but not often enough to own one. At some point, the world would ultimately need fewer cars and places to park them. It feels greener, and sharing is polite and all that. But then the grown-ups show up, in the form of insurance companies. I called them this week in the wake of an announcement by RelayRides, a company with venture capital backing from both Google Ventures and General Motors, that it was taking its car-sharing service national.

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