The sharing economy concept is making room for people to share houses, meals, rides and with a service like Guevara, drivers can even share insurance.
Guevara is based in the UK and describes itself as a "people-to-people car insurance" solution. With this type of insurance, users are initially assigned a Base Price, which is determined on standard insurance information, including factors like age, location, car and driving experience. From there, users are able to join a group in order to use their collective resources and keep claims low. In this way, groups can save up to 50% by working together.
P2P insurance services like these are becoming popular among those who value the cost savings and practicality of shared ownership.