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DC Becomes First East Coast Market for the 'Airbnb of Cars'

Washingtonians can now use their neighbors' cars to run errands. A San Francisco-based service called Getaround pays car owners to rent out their cars, and provides insurance to cover the car and rental driver. Washington DC is the company's first East Coast market, UrbanTurf reports. Renters can use an iPhone or Android app to select and rent cars for as little as $5/hour. There's no fee for renters to join, but car owners pay a $99 installation fee, a $20/month rental fee, and fork over 40% of their rental earnings. In return, they get $1M in insurance, including liability, collision, property damage, uninsured motorist coverage and theft. Active renters can apparently earn $10k a year. Next stop for the Airbnb-type company? The Big Apple. [UT]