Re:BMW to Let Car Owners Rent Out Vehicles Like `Airbnb on W...
by gist on Monday April 25, 2016 @06:55PM
(#11568051)
> There's no way any ordinary insurance policy would cover this kind of scheme. Your premiums can, and should, skyrocket.
There is even another issue with accidents and luxury cars. [1] If you own a luxury car and it's in an accident the value drops pretty significantly vs. a non luxury car (where it still drops of course). With a rental apartment you have to worry about damage but not damage that would cause you to have a significant drop in the resale value.
[1] Recognizing this test is starting with Mini of course however the idea from reading is they would expand to other parts of the brand.
There is even another issue with accidents and luxury cars. [1] If you own a luxury car and it's in an accident the value drops pretty significantly vs. a non luxury car (where it still drops of course). With a rental apartment you have to worry about damage but not damage that would cause you to have a significant drop in the resale value.
[1] Recognizing this test is starting with Mini of course however the idea from reading is they would expand to other parts of the brand.