Ride-sharing services such as  Uber could be leaving their Australian "partner-drivers" facing huge financial liabilities.

That is because the drivers' motor vehicle insurance policies may not cover them if they are using their car for ride-sharing.

It is a similar situation to those peer-to-peer house-sharing services such as  Airbnb, where those letting out their houses may not be covered by their home and contents insurance.

Airbnb promotes what it calls a "host guarantee" on its website with up to  $1 million of cover, but does not include "personal liability" cover.

Some insurers will cover occasional short-term lettings while others require the owner to take out landlords' insurance.

The insurance situation is even less clear with San Francisco-based Uber, although it says it provides "robust" insurance coverage.

The "sharing economy" or "peer economy" - where owners share or rent their car or house -  is disrupting all types of industries.

That includes the insurance industry, which is struggling to keep up with the rapidly evolving sharing economy.

It is even trickier for insurers when it comes to ride-sharing because there are doubts over the legality of providing taxi-like services without a taxi licence or accreditation.

Uber spokeswoman Katie Curran, says there are no regulations about ride-sharing in Australia and no court has determined that it is illegal.

However, most comprehensive policies are voided if the car is used as a taxi or hire car.

Campbell Fuller, the general manager of communications at the Insurance Council of Australia, says insurers could decline a claim if the driver is found to be offering a ride-sharing. He says drivers could be exposed to substantial financial losses.

Curran says Uber drivers are covered by insurance of up to $US5 ($6.7) million a trip in addition to each driver's own insurance.

Drivers must claim on their own insurance first.

She says successful claims have been made by Australian drivers on Uber's insurance.

But details of the cover are scant; though Curran says Uber is "happy to share evidence of our policy with driver-partners who would like to see it".

Fuller says drivers should satisfy themselves that any other form of insurance purported to be provided by a ride-sharing business is transparent. They should also avail themselves of the inclusions and exclusions of the policy, any claim limits, and their rights under Australian law including independent dispute resolution.

"The risks for the driver are immense," Fuller says.

NRMA is one of the very few insurers who will cover ride-sharing where it operates - in NSW, ACT and Queensland.

Mariana Cidade, a spokeswoman for NRMA, says the company will not cover drivers who are conducting ride-sharing "full-time".

But "occasional" users who tell NRMA will have the same coverage as they would normally have, though they would have to pay a higher premium.

Cidade says ride-sharing is here to stay and "we want to give our customers what they want".

Ride sharing is covered under NRMA's compulsory third party and comprehensive policies.

In Victoria, the RACV also extends its comprehensive coverage to those who use their car for "occasional" ride-sharing.

In Victoria, registered cars are covered by government compulsory third party insurance that is "no fault". It is managed by the state government rather than through individual insurers. 

@jcollett_money