Getaround Unveils Peer-to-peer Car Sharing Solution and Announces Insurance Agreement with Berkshire Hathaway

Peer-to-peer car sharing service Getaround unveiled the Getaround Carkit, the first all-in-one device for enabling car owners to safely and easily share their cars and potentially generate thousands of dollars per year in rental income. In tandem, Getaround announced the release of its new iPhone app and an agreement with insurance giant Berkshire Hathaway to provide premium insurance coverage on every Getaround rental.

Getaround enables car owners to "un-idle" their cars and offset the cost of vehicle ownership by sharing with friends, co-workers, and neighbors, while people seeking cars are provided easy, affordable access to vehicles everywhere.

The Getaround Carkit combines GPS, Wi-Fi, and keyless remote technology to allow safe and simple sharing of cars, and is the first device designed exclusively for peer-to-peer car sharing. The Getaround Carkit and iPhone app together make it possible for users to easily conduct entire transactions, including reserving, paying for, and unlocking cars using nothing but their iPhone.

The Getaround Carkit is simple to install-for many car models, it can be installed directly by the owner in a matter of minutes. Getaround's peer-to-peer car rental marketplace can provide meaningful financial benefits to both owners and renters. Owners can earn, on average, $2,000 per year for every hour per day their car is rented. Meanwhile, according to the research firm Frost & Sullivan, the average renter saves over $1,800 per year by using a car sharing service over owning a car for the same number of miles driven.  

Unlike services that require owners to surrender their car to the fleet, Getaround lets car owners maintain complete control over their cars. Owners set the pricing and availability, and can optionally approve each rental request individually. Meanwhile, renters are given a broad selection of vehicles and pricing, and the ability to rent nearby cars instantly. In addition to the keyless remote technology, the Getaround Carkit ensures safe and proper use of the vehicle through its tracking and reporting features.

To further enhance the safety of its service, Getaround also announced that it is working with Berkshire Hathaway, one of the nation's largest insurance groups, to provide premium insurance coverage throughout every Getaround rental. Berkshire Hathaway is an A++ rated carrier, the highest, most secure rating available to insurers. This policy includes liability, collision, and comprehensive (theft, fire, etc.) coverage and supersedes the policies of both owners and renters throughout the rental period. In addition, Getaround provides 24/7 roadside assistance through The National Automobile Club.

In California, Getaround has over 240 owners and approximately 1,500 renters currently active in its system, primarily in the San Francisco Bay Area, with over 1,500 additional car owners nationwide having signed up to share their cars through Getaround once the service becomes available in their area. Requiring no membership fees, Getaround members can sign up and begin renting immediately. Owners interested in making their cars available can complete the form at http://www.getaround.com, where they can also find answers to frequently asked questions.

Comments

  1. Michael [ May 31, 2011 @ 01:49PM ]

    So what happens when the renter/sharee establishes relationship with the rentor and cuts out the middle-man (Getaround)? The car owner then establishes a customer base and has no need for getaround.

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