Our car rental experts and legal advisors have built a legal structure to minimize risk for our customers. These are the 3 insurance principles that enable secure peer-to-peer rentals in the Spagg Network:
Insurance is always on the renter side: All Spagg Network rentals are fully insured on the renter side. Renters assume responsibility for accidents in all cases. The owner's insurance will never be claimed. Spagg will verify renter's insurance or provide them with one: Spagg will accept only 2 types of insurance - existing renter's insurance if verifiable by a Spagg representative, or insurance underwritten by Spagg partners specifically for the rental
- Existing auto insurance: Most auto renters have already their own auto insurance. In this case, trained Spagg representatives will call the insurance partners to verify if the customer's policy covers the rental. Policies must cover property and 3rd party liabilities. Spagg will only accept registered insurance companies with good track record.
- Spagg insurance partners: In case the renter does not have an existing auto insurance, Spagg will partner with authorized insurance brokers to provide a full coverage, cost effective insurance policy for the rental.
- Renters assume 3rd party liability: Renters sign a rental contract and agree to take full responsibility for third party liabilities during their operation of the vehicle. This is necessary to legally protect the owner of the vehicle.
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