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What an asinine article. You people should know better than to post garbage like this. Did you have a deadline to meet or something?
NO WAY is a personal auto policy going to provide coverage when one RENTS out their vehicle. Loaning the vehicle? Sure (on a lot of auto policies, but not all). Seriously!
If you want to give people ideas on how to make a little extra money in a struggling economy, don't suggest something that can possbily leave them in financial hot water. Advise that they sell their blood or have neighborhood garage sales or something... NEVER suggest that they rent out their personal auto!
This is an ill informed and unresearched article. DON'T do it! Your insurance company will deny the coverage and drop you if an accident should occur. Sure, the $1 million policy provided by the car sharing company may sound enough but it is not when there's a fatality or someone ends up being paralized. Your coverage then comes in but since it will be denied, guess who will be receiving a letter from the personal injury lawyer? Last, so you loan out your car to earn how much? $600-$1000 a year.
I usually reserve personal attacks but cannot do so since this is a effing article. Can't believe Kiplinger even puts this out there. STUPIDITY will land your personal **** in jeoapardy!
I have made several comments about how asinine and irresponsible this article is. Advising people to rent their cars out? You must be out of your mind.
Here's an interesting idea to line your pockets. Someone, rent out your vehicle and when something happens and the insurance policy doesn't cover the damages, then file suit against the author, or whoever is responsible for running this idiotic article.
Perhaps this will stop this article from being run all the time... IDIOTS.
What a stupid idea!
Another wasted MSN story about nothing.
The writer should rent out his keyboard or better yet sell it to the lowest bidder.
Thank you Blerina81...as I thought...a VERY stupid idea indeed! Who comes up with this junk…and why would they post a suggestion that could rapidly lead to massive legal issues?
Rent me your car...I'll have it in a Tijuana chopshop by noon!!!!
I recommend you rent out your spouse...far more lucrative and less hassle.
Seems like a fad to me, driven by a bad economy. Most of us don't want strangers driving our cars, as most will get dinged or harmed worse, and potential personal liability is a deal killer.
If this works at all, probably most of the "rentals" are banged up junkers no one would want to drive. Seems a low end deal to me and I don't see it working over time.
This just smells of an advertisement for the bay area rental. Think about it. When i rent from traditional companies, I can purchase all that extra insurance or I can use my AAA. So, for some of that, if there were an incident, I could be liable for several thousand of the incident if I did not opt for the ins. Okay, a big company mght be able to absorb the person who decides to opt out of the additional insurance., but me renting out my car, and someone totalled it, I would then be without a vehicle, and set up for all sorts of legal nightmares trying to get money back from the people, and prevent getting wiped out financially for someone else's driving my vehicle. How many of you have gone to a store and put a big item in your vehicle, only go get home and see a black spot or crease on the interior? What about the piece that doesn't fit in so they rig it and go down the freeway, and it doesn't hold and kills the people behind. I say never. Not a cost-efficient vs. risk way to use my car.
Besides, Ikea, Sears,Big Lots, JCPenney, and any other company has deliveries. Pay the 30 to 65 bucks to have them deliver it. or wait until they have a free delivery sale or rent from Hertz Rder, Uhaul and truck it yourself.
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