Vehicle Ownership Losing Ground to Ridesharing, Survey Shows

On-demand technology has altered consumer behavior forever. It’s what makes Netflix normal, Lyft easy, and Spotify a must. “Getting what I want, whenever I want” is not just a trend, it’s become a non-negotiable for the connected generations; it’s fast and easy. And on-demand everything is transforming the ways people get around in the world, removing the need to schedule transportation weeks in advance, wait around for a taxi, plan around public transportation schedules, or even own a car at all.

The power of personal agency—made possible by mobile devices and on-demand technology—has fundamentally changed the way we move from place to place on a daily basis.

At Trov, we’ve been closely monitoring these shifts in consumer behavior and recently commissioned a survey, conducted online by The Harris Poll, of more than 2,000 American adults to find out how the on-demand economy is shaping personal mobility and identify the related insurance implications at play.

The results might surprise you or they might corroborate what you’ve been telling your friends all along: ridesharing is gaining traction in the minds of Americans, potentially causing vehicle ownership to lose ground; people are losing their stuff in rides all the time (you’re not alone); and most people have no idea how to protect themselves and their stuff in a ride they paid for but don’t actually own.

Personal mobility is a new frontier in America. And it’s one we’re exploring. Here’s what the survey found.

Personalmobility Surveygraphics 13

Despite universal vehicle ownership, Americans recognize the economic value of rideshare

Our research found that while 90 percent of Americans own a vehicle, more than half (56 percent) believe it’s more economical to use shared transportation than own a vehicle. Meanwhile, roughly 1 in 4 Americans (26 percent) would be willing to give up their vehicle to use shared transportation exclusively. Millennials, ages 22-37 (39 percent) are more likely to be willing to make the sacrifice than their Gen X, ages 38-53, (30 percent) and Boomer, ages 54-72, (15 percent) counterparts, while men (31 percent) are slightly more likely to be willing to give up their vehicle than women (22 percent).

Personalmobility Surveygraphics 15

Rideshares are a black hole for belongings that often go unrecovered

Of the 74 percent of Americans that use rideshare vehicles, nearly 2 in 5 (39 percent) have left something behind in a shared vehicle, yet less than a quarter of them (23 percent) say they always recover their forgotten items. Perhaps this truth can be attributed to the reality that 3 in 5 Americans (60 percent) reported that they wouldn’t know how to make a claim for an item left behind in a shared vehicle. Cell phones are the most common items left behind (42 percent), followed by clothing/accessories (35 percent) and food (30 percent).

Personalmobility Surveygraphics 14

Americans don’t know their options when it comes to mobility insurance

Nearly two-thirds of Americans (63 percent) believe there’s a lack of insurance options available for those who rideshare. The good news is, there are options! (Hi there, we’re Trov). Meanwhile, there’s also a disconnect when considering rental car insurance: only 43 percent of Americans think car insurance through a rental car company is straightforward and easy to understand, while more than half (58 percent) are not familiar with the car insurance offerings available through credit card companies.

As the shift from individual ownership to ridesharing continues, traditional insurance companies are finding themselves unable to keep up and clearly, consumers aren’t aware of their options. In response, Trov is pioneering the implementation of better, smarter, and more flexible insurance for the mobility sector built upon three core pillars:

  1. A consumer experience-first approach
  2. A smarter, more transparent insurance policy underwritten specifically with mobility in mind
  3. A powerful technology platform flexible enough to deliver protection seamlessly across applications, integrations, and partnerships

Last year, Trov announced a partnership with Waymo to provide coverage for future passengers of its ride-hailing service and insure against injury and property damage. And just last month, Trov became the official insurance technology partner for Group PSA’s car-sharing service—Free2Move—in Washington D.C. As part of this deal, Trov is delivering dynamic, responsive insurance that will scale with Groupe PSA as they invest and focus deeply in MaaS (Mobility-as-a-Service), a key pillar of the company’s long-awaited re-entry into the U.S. market.

All of this wouldn’t be possible without the power of on-demand technology and the increasing personal agency it unlocks. Transportation is evolving. Ridesharing is (cough) price- (cough) surging in popularity. Who knows—soon we might be hurtling through an underground tunnel to get to work. Regardless of what happens, the future of personal mobility is full of unknowns. Which is precisely why Trov is at the forefront of designing a new way to provide insurance using on-demand technology so that our people and possessions are smartly protected at every step of the trip.

Learn more about Trov Mobility at

Survey Methodology: This survey was conducted online within the United States by The Harris Poll on behalf of Trov from October 16-18, 2018 among 2,016 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Chris Pappas at