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8 reasons to think twice before getting involved with Airbnb, Uber and Lyft

People now use the internet to share their car, their home, their boat, their airplane, etc., and the complexities for insurance agents and companies are growing. Here's why those who are either part of the sharing economy or have considered becoming part of it should sit back and think.

By Jim Holm | Updated on September 10, 2014

The world seems to be in awe of the “innovation” displayed by the “sharing economy.” People now use the internet to “share” their car, their home, their boat, their airplane, etc., and the complexities for insurance agents and companies are growing. Those of us involved with auto insurance, for example, are about to get an expensive lesson in the difference between “livery” and “ride-sharing.”

My wife of 40 years and I raised four children. My parenting experience suggests: 1) Just because everyone else jumps off a cliff doesn’t mean you have to as well, and 2) The internet entrepreneurs need to take a “time out.”

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