Markets in Everything: Neighbor Car Sharing

Boston -- "Since its launch in 2000, Zipcar has shaken up the car rental market and grown to include more than 550,000 members in the United States, Canada, and the United Kingdom. Its main selling points? The ability to reserve vehicles by the hour instead of by the day and the convenience of pickup locations all over major metropolitan areas. Similar services now include the nonprofits CityCarShare, I-Go Carsharing, and e-Go Carshare.

Now, new services are taking this model a step further. Instead of using a fleet of Zipcars, RelayRides, WhipCar, Spride Share, and Getaround allow car owners to rent out their vehicles to their neighbors when they’re not in use.

“Economically, it makes a ton of sense for both sides,” says Shelby Clark, the chief executive officer of RelayRides, which currently operates in Boston and San Francisco."  

MP: See RelayRides price list above for car sharing in Cambridge, MA.  Hourly rental fees range from $5.50 for a 2001 VW Jetta Wagon to $12.00 for a 2003 Ford F-350.

HT: Kevin Hassett

Update about Insurance (from the RelayRides website):

• Do I need my own insurance to borrow a RelayRides vehicle? Nope!




• How does insurance work?

  During your reservation, RelayRides protects you with our best-in-class $1,000,000 comprehensive insurance policy. This means you don't need your own insurance - hooray savings! Should you be involved in an accident, you'll only be liable for a $500 deductible, which we'll lower by $100 if you're prompt about reporting damage yourself.