peer-to-peer sharing

Peer-to-peer sharing refers to an arrangement in which individuals use an online platform or app to share, rent, lend, or provide access to personally owned property, services, or assets directly to other individuals. A fee is often involved in these arrangements. Common examples include peer-to-peer vehicle sharing, home sharing, equipment rental, and task-based services. Such arrangements can create insurance coverage issues because standard personal auto, homeowners, or renters policies may exclude or limit losses arising from business, rental, or commercial use.