We provide peer-to-peer car sharing insurance that fully covers you every time you rent with Karshare. Insurance excess, the cost to reduce excess and the deposit amount will vary based on your personal renter score - this means that lower risk drivers end up paying less!
What is a renter score?
A renter score is calculated for each renter. This score assigns a level of insurance risk to each individual. The lower the renter score, the lower the risk and the lower the associated costs for Insurance excess, reduced excess and deposit.
How is my renter score calculated?
Your renter score is calculated based on 6 different data points; age, years licence held, licence issue country, average driving score, prior rentals, and previous damage. Here’s a breakdown of each of these data points and why we use these to determine your renter score:
The renter score for younger drivers will be higher, as they statistically have a higher risk profile.
Years licence held
If you’ve held your licence for a longer amount of time, your renter score will show you as less risk. This is based on the fact that you’ve had more years on the road and are likely a more experienced driver.
Licence issue country
Statistically, you’re less likely to have an accident if you’re driving in the country where your licence was issued. If you passed your test in another country this will impact your renter score.
Average driving score
This one’s simple - the better your average driving score, the lower your renter score! At the end of every rental, you’re given a driving score. This is calculated using telematics and takes into consideration various factors such as braking, speed, acceleration and more. Find out more here.
The number of times you’ve rented with us will affect your renter score. The more rentals you’ve completed, the more experienced you are in using Karshare, and it’s likely that you’re more comfortable with driving different makes and models.
If you’ve previously had a rental where minor or other damage occurred, it will affect your insurance and deposit rates. It’s standard for the cost of insurance to increase if there’s been evidence of previous damage, which is why previous damage will affect your renter score.
How can I improve my renter score?
Verifying your driving licence
Most importantly adding and verifying your driving licence will produce a more accurate renter score - if we don't know who you are we can only assume high risk.
Unfortunately some factors such as age and years licence held can’t be changed, but the simplest way to improve your score is to continue renting with Karshare and achieve high driving scores on your rentals.
Browse other vehicles
Some platforms completely prevent young drivers from renting all or certain cars. At Karshare we don't want to cut that generation of drivers off but we do take into consideration which vehicle you’ve chosen. The insurance group of the vehicle will impact the overall cost for the renter. Especially for your first rental on Karshare choosing a car with a lower insurance group can drastically reduce your potential risk and therefore your renter score.