HyreCar

What: HyreCar is a rental platform that markets your car rental to Uber and Lyft drivers. But it puts your car at risk with inadequate insurance coverage

Expected pay: $30 – $40 per day (before commissions)

Husl$core: $$

Commissions & fees: 15% of the rental amount

Where: Most major cities, nationwide.

Requirements: Be over the age of 21 and able to sign a legally-binding contract; have a late-model, 4-door car to rent

HyreCar Review:

HyreCar differs from some of the other car-rental services, such as Turo and GetAround, in that it is not renting your car out to a casual driver. This site specifically aims to rent your car to Uber and Lyft drivers. On the bright side, that means your car is likely to rent quickly and for a long time. The negative is that a ride-share driver is going to have to drive the heck out of your vehicle in order to pay rent to you and still make a decent living. And the car has to be nice enough to get through ride-sharing screens, so you can’t rent out a junker. Click here to rent out a car.

More red flags

But that isn’t the only red flag car owners should be concerned about. Although the site purports to provide additional auto insurance covering your car from damage caused by the renter, the policy is extremely limited. The limitations? It is only in force when the driver has a paying fare. If the person who rents your car gets in an accident while driving home or to the supermarket, HyreCar’s policy doesn’t apply.

Policy limitations

Even when the policy does cover your vehicle, the insurance has lots of holes — like a $2,500 deductible. That’s the amount that comes out of your pocket before insurance kicks in. And it excludes interior stains, tears and rips, as well as scratches, dents, punctures, window cracks and dings that are under 6 inches in length, not to mention tire damage.

All of these items are considered “normal wear and tear,” according to HyreCar’s policy. This may reflect the fact that the wear and tear involved in ride sharing is far from “normal.” Should you be worried that someone will crash or dent or take off with your vehicle? Yes. Read the owner reviews below to see just how concerned you ought to be.

Recommendations

Our advice, if you are going to rent out your car, consider Turo.

If you want to rent through HyreCar, make sure to buy your own commercial auto insurance policy.

What car owners say: (From Yelp)

Stay Away!!  I rented my car once and had a very positive experience; the second time and the renter crashed it. All I’m getting is the run-around…I know it’s going to be an expensive lesson. 

Scam. They cost my family and I over $20000. I rented my car through them and it was totaled the very next day. They denied the claim saying the actual renter let her son drive the car and the son wrecked it. The son was not covered. I have no control over that. They intentionally lead you to believe that anything that happens while the car is on the HyreCar rental will be covered. My insurance company also denied the claim because of the rental situation.  As soon as a claim happens they find any excuse to deny a claim.  Horrible people.

I had to go to arbitration with the company and they are doing everything in their power to deny my claims. Through the grace of God, I was able to find who their insurer was and make them pay.

Stolen car

Someone stole my Camaro, and almost stole my Beamer through their platform. Did some research and found out that they stole someone’s identity, but they passed their background check. They keep blaming Checkr, but itwas HyreCar’s negligence.

One of my drivers got a ticket on my car durning a period that was clearly in his possession, and its now a year later and they still have not paid me..even though they sent me an email apologizing for how long it took and agreeing to do so. NOT WORTH IT. DON’T USE THEM!

The worst decision ever was to rent my car out on this app. My car came back with a busted up bumper and they didn’t even want to pay for it. The people who rent your car don’t take care of it and u stuck with the bill. COMPANY RESPONSE: 1/31/2018  Based off of the image you have provided, it looks like the scratch appears to be less than six inches. Our policy clearly states that we only will cover damages under six inches. 

Rotten insurance

Hyrecar for God sake please get better Insurance. I had my two cars totaled with you in 2016.

The driver ran away with the car and they are not doing anything except emailing the same thing again and again. Even the police told us that this company is known for similar things in the past. I asked them to expedite the claim process through their insurance but they told me we have to wait for 2 months before they can do anything.

If the driver can’t pay for over-mileage and damage, they don’t don’t have any process to help out.

Beware. They will wipe their hands with you soon as the driver can’t pay for damages.