July 20, 2017

‘Airbnb for cars’ a step closer as Irish firm secures insurance

Crowded parking lot in downtown
Copyright: joesive47 / 123RF Stock Photo

An Irish company that hopes to become the Airbnb of car rental has reached a deal with a major motor insurer to allow the business to hit the road.

The service, created by the businessman Maurice Sheehy, enables motorists to hire out their cars when they are not using them.

Car owners who commute by public transport or bicycle, for example, leaving their cars parked outside their homes, could earn money by renting them to other drivers.

Under the agreement reached between the Wicklow-based company Fleet and Axa Insurance, renters will be offered comprehensive insurance for between €7 and €10 a day.

Owners who rented out their cars for two days a week could make €3,500 a year, according to Mr Sheehy, who said he wanted to capitalize on the growing sharing economy and make Fleet as much of a disrupter in car hire as Airbnb and Uber have been in accommodation and taxis.The insurance offered by Axa would be separate from motorists’ own cover and would not affect their premiums or no-claims bonuses. Fleet suggests rental fees […]

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