Car sharing is a new concept coming to light with Uber Carshare. Uber Carshare allows car owners who don’t use their vehicles much to rent them to Uber Carshare members who pay a daily or hourly fee to utilise the car. This can be an excellent way to earn some money as a side hustle. But if you’re renting your car out, you’d surely want to know you’re covered for any damages or losses. Uber Carshare offers its own coverage for damage and loss while you’re renting your car through its platform, but what about when you’re using your car for personal use? 

When you’re not renting your vehicle through Uber Carshare, you’ll need your own insurance cover. This is where things get a bit confusing, as many insurance providers may not offer solutions for car-sharing services. Here at KOBA Insurance, we have a great solution for you to consider! In this article, we provide an introduction to KOBA’s Car-sharing owner-use comprehensive car insurance product, detail our policy’s coverage, highlight the innovative technology involved, explain the claims process and discuss how we’re working together with Uber Carshare.

Introduction to KOBA

Here at KOBA Insurance, we’re one of the first insurers in Australia to utilise advanced data tracking technology to provide you with transparent premiums. Our comprehensive cover is unlike most policies in the insurance industry. As a policyholder with KOBA Insurance, you pay an upfront fixed cost to cover your car while parked, and a driving premium which is charged per kilometre you drive. This might sound like a pay-as-you-drive (PAYD) policy, but it’s quite different. Our innovative telematics technology allows us to calculate the exact number of kilometres you drive, so your premiums are based on accurate data rather than estimations.

Our pay per km insurance policy also provides you with comprehensive cover. If you’re a member of Uber Carshare, our policy seamlessly integrates with Uber Carshare’s damage and loss cover. While renting your vehicle through Uber Carshare, your KOBA coverage ‘switches off’, so you aren’t charged for kilometres you personally haven’t clocked! With our shared innovative technology, you could benefit from a streamlined, automatic process and peace-of-mind knowing you’re covered for car-sharing on the Uber Carshare platform.

Innovative data technology and applications

If you’re an Uber Carshare member, you may have signed up to receive an Instant Keys GPS Device. The Instant Keys GPS Device incorporates telematics technology, which is a device that collects, sends and receives remote data. What does this have to do with car insurance? Well, with this telematics technology, we can collect shared ‘behind-the-wheel’ data that allows us to calculate fair premiums for your policy. This technology ‌differentiates us from other car insurance providers. 

Here at KOBA Insurance, we’re working together with Uber Carshare to provide the ultimate cover for Uber Carshare members. Using our integrated technology, we’re able to determine when you’re using your car for personal use, and when you’re renting it out through Uber Carshare, and only charge you for the insurance you use.

Data collection

We understand how important data privacy is to our valuable policyholders. We collect data relevant to your vehicle, such as the number of kilometres you drive, average acceleration and the smoothness of your breaking. We don’t share this information with anyone else either, unless bound by law to do so. 

Below, you can explore a list of the typical data we collect:

• location of your car and where it has travelled
• date and time of driving
• distances driven
• speed and acceleration
• smoothness of breaking
• vehicle identification number
• engine fault codes

How to make a claim

First and foremost, we understand how stressful and inconvenient road incidents can be, particularly if your car has come out second best. We strive to make the claims process as simple and stress-free as possible. We want you back in the driver’s seat as soon as possible. If you’re driving your car and you get in an accident, call our friendly team. If you find your car damaged and suspect that it happened while being used on Uber Carshare, then call the friendly team at Uber Carshare. Below, you can explore the typical steps involved with making a personal claim as a policyholder with KOBA:

1. Make sure you and your car are safe: Firstly, if you’re in an incident, make sure you’re safe from any hazards, then take steps to ensure no further damage comes to your car.
2. Gather details of persons involved: If third parties are involved in an incident, it’s an excellent idea to collect their contact details and relevant information. You should ask for their full name, address, phone number and vehicle registration number. 
3. Let us know as soon as possible: When it’s safe to do so, contact us via the KOBA App or call us and speak to our team. Provide us with all the details of the incident, such as third-party contact details, events of the incident and any damage or injuries sustained. 
4. Cooperate with us: In the event of a claim, we want to ensure your experience is smooth, stress-free and quick. Some incidents might be more complex than others. For these complex claims, we might require additional information, such as proof of vehicle ownership or the value of damaged or stolen items. This additional information is to help us represent you and negotiate effectively on your behalf. 

Why KOBA is the insurance solution

If you’re a member of Uber Carshare or thinking about becoming a member, you may require personal car insurance to cover your car for when you’re not renting it out. This can be a particularly grey area of insurance because if you’re renting your car out, you’re technically using it for commercial or business purposes, which may go against many policy’s terms. Here at KOBA Insurance, we’re one of the first Australian car insurance companies to offer an insurance product that specifically works for car share platforms like Uber Carshare. If you’re after comprehensive cover, fair premiums and streamlined car share coverage, get a quote online, today.

Any advice provided on this site is general advice only and does not take into account your individual needs, objectives or financial situation. Terms, limits, conditions and exclusions apply. Before making a decision, you should carefully read the Product Disclosure Statement & Financial Services Guide (PDS & FSG), and the Target Market Determination (TMD), which are available at kobainsurance.com.au to help you decide if the product is right for you. If you purchase a policy, KOBA receives a commission, which is a percentage of your premium, and may be entitled to a profit share if certain thresholds are met in agreed periods. Please ask us for more details.