A recent survey by Octo Telematics shows that, despite vast growth in the UK's sharing economy, a significant proportion of the UK population is either ignorant of or reticent about the concept of peer-to-peer car sharing. Peer-to-peer car sharing is an increasingly popular process in which participating car owners rent their vehicles to others. In doing so, they provide vehicles which are close by and affordable, typically charging an hourly rate for the short periods of time they are used. The Octo Telematics survey, based on a sample of 2,000 18-65 year olds in the UK, shows that up to two thirds (66%) of respondents are entirely unaware of the concept of peer-to-peer car sharing. 43% of those surveyed showed little appreciation for the financial incentives of car sharing, saying that no amount of money could convince them to share their car on peer-to-peer platforms. Out of the remaining percentage of people stating they could be persuaded to share or rent their car, 16% specified they would need a minimum sum of £26 to £50 per day, while 12% would want £51 to £75 per day and 11% would require as much as £76 to £100 per day in payment. One of the greatest factors behind reluctance in respondents was vehicle security. 46% of those surveyed said they would be encouraged to rent their car only if the driver were insured separately, ensuring that any incidents could be claimed against the driver's insurance. An additional 34% desired the ability to track damage and properly attribute it to rental drivers, while 32% would like real-time tracking of the car's location while it is hired. Jonathan Hewett, chief marketing officer at Octo Telematics, attempted to address some of these concerns. He said: "Most cars are really computers on wheels these days, laden with sensors and telematics trackers. "Drivers should be reassured that they can use telematics to track the location of their car, understand the renter's driving style and, in the event of an accident, provide point by point data necessary to substantiate a claimƒ Car owners, like many home and dog owners, should also be at ease with earning a little extra through the sharing economy."
