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SPECIAL SECTION: Sharing Economy

 

Share with Care

Know the risks before you share a home, ride or more
 

The sharing economy is rapidly gaining popularity. PricewaterhouseCoopers expects it to hit $335 billion in global revenue by 2025. Before you jump in on peer-to-peer transactions, understand how they work and how to avoid financial pitfalls.

 

Taken for a Ride

Ride-sharing companies such as Uber and Lyft connect individual drivers with people who need rides. Passengers and drivers can screen each other, schedule rides and collect payment electronically.


Consider these tips to stay safe on the roads:

Insure U: Sharing Economy

Welcome Home

Home-sharing or peer-to-peer rentals are sites where people rent out rooms or entire homes to guests for extra income. Guests find a property online and pay for the stay like a hotel. The difference is that the property is often a privately owned apartment, condo or house. Anyone can register as a host or guest.


Get facts to improve your home-sharing smarts:

Goods & Services for Hire

A smaller segment of the sharing economy involves the lending of personal items for a fee. Lenders and borrows advertise and rent items like power tools, golf clubs or designer dresses online. Or, someone seeks help from another individual online to help with tasks like packing boxes or housecleaning.


Check out the following tips to help protect yourself and your stuff: