Car-sharing instead of public transportation and ride-sharing instead of carpools? In the sharing economy, access trumps ownership—and transportation is a prime candidate for sharing. In this Insurance Chart of the Week, we’ll examine some of the insurance issues related to car- and ride-sharing.

Sharing, buying, price and convenience

75% of home sharers mention convenience as a reason for sharing; more than half cite price
Click the image above for a large version of the Insurance Chart of the Week (opens in a new window).
66% of Americans under age 35 own cars, 7% fewer than in 2007
Click the image above for a large version of the Insurance Chart of the Week (opens in a new window).
$500 million was paid by Avis to acquire Zipcar
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Some elements of the sharing economy have captured more controversy than others, particularly on the regulatory front. But insurers shouldn’t be distracted from a prime opportunity to lead the discussion around insurance in the sharing economy. First movers can set standards and achieve first-mover status.

The question is, will you lead the pack or follow the leader?

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