The sharing economy is a growing hybrid market business model where people can access goods and services from their peers through the use of community-based online services. In recent years its popularity has grown substantially as people realize the potential of their unused—or seldom used— assets and the demand for low-cost solutions to everyday problems.
How Cowan Can Help
Cowan Insurance Group understands the way you engage with or do business is changing, and so are the associated risks. Providing the use of your home, car, or other assets within the sharing economy is indeed, the start of a small business. We’ve built our reputation by understanding our clients' needs, ensuring they have the correct coverage, advising on future developments, and of course, helping them save money.
Our Sharing Economy program is designed to be flexible and work with the unique needs of your peer-to-peer shared asset business. You can focus on the service you’re providing, and we’ll take the time to uncover any potential gaps in your coverage, and recommend solutions to ensure that you and your business venture are protected from risk.
Ask yourself, would you be covered if:
- An accident occurred while using your personal vehicle or your home/property to provide others with a service for a fee?
- You suffered a loss as a result of damages to your home or property by a short-term renter?
- Equipment you owned was rented out and was involved in an accident or was damaged during use?
At Cowan, our industry experts are ready to lend a hand to help make sure that your assets are protected, and that your transition into the business of the sharing economy is a smooth one.
To learn more about the sharing economy, to keep up with regulatory changes and product offerings specific to the sharing economy or to get a quote, please fill out the contact form and we’ll be in touch.