All of Turos protection plans for hosts include up to $75,000 of third-party liability insurance underwritten by Travelers. I've had a great year financially and have decided to treat myself with a second vehicle. Note: Rates are an approximation based on a 45-year-old driver in California. However, some people have been told that their car insurance from these companies will cover their car on Turo. Former Licensed Agent. On Standard plans, the fee is 25%. As a senior writer on Jerrys editorial team, R.E. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Usually, your personal auto insurance policy no longer covers you in Period 1. Continue reading to learn all you need to know about insurance coverage and Turo. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. When evaluating rates, please verify directly with your insurance company or agent. None of us like to think of the worst-case scenario: someone dies in the accident. : You may be better off seeking opportunities with a more traditional ride-sharing servicelike Uber or Lyftor pursuing a different side hustle. Plan price: 40% of trip cost. Guests of any age booking Super Deluxe trips also pay a $750 deposit. On the other hand, if someone wrecks your vehicle, youll want to make sure your car insurance reimburses you for damages. Turo offers five different protection plans for peer-to-peer hosts, with varying levels of benefits. ), Plan price: 15% of trip cost. Before you buy the rental companys insurance, you should consider what coverage you may already have through your personal car insurance. The same applies to rental car insurance you might use from a credit card company. Its wise to pay for Turos liability coverage as your own policy wont kick in should you wreck your rental car. WebFull car insurance typically refers to an insurance policy that has a wide range of coverage options within a single auto policy. Turo If you decline buying a plan, though, Turo wont bear responsibility for any damage to your vehicle. Editorial and user-generated content is not provided, reviewed or endorsed by any company. The coverage limits and deductibles on your personal policy also apply to your use of a rental car. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Plans are We believe everyone should be able to make financial decisions with confidence. Be sure you get your approval/confirmation in writing and keep that document so if there is a If this is the case, you will be covered to borrow any car. Not available for all vehicles or trips. Compare car insurance rates to find the best policy. Youre only covered within the limits of your own cars policy. Can a guest decline Turos protection plan coverage? These insurance companies include GEICO, Progressive, and Allstate. For instance, travel insurance companies offer rental car liability insurance, often at lower prices. Vehicle protection for hosts - Turo Here are the other benefits included in Turos insurance plans:, : Turo pays for eligible physical damage to host vehicles up to the, of the car or $200,000 (whichever is cheaper) once youve paid the deductible associated with your plan., : If your car needs to be repaired after an accident, higher plans include some, to cover the cost of a replacement vehicle, and even some cash to offset the cost of a total loss., : If you choose the highest level of protection, Turo will pay to repair most, , scratches, and cracks to the vehicles exterior caused during a trip., : With the most comprehensive protection plan, youll get the choice between replacement vehicle reimbursement or reimbursement from Turo for the hosting income you lost while the car was being repaired., Turos protection plans are available to all hosts, but theyre not technically required., You can decline Turos coverage as long as you have a car rental commercial policy in place. Liability insurance is available to protect you against bodily injury you may cause to others during an accident. Is a Broken Windshield Covered by Car Insurance? Periods 2 and 3 Youll enter Period 2 after accepting a delivery request on the app. Suppose you do discover that your credit card coverage provides property damage. How Much Home Insurance Do I need? : Farmers Insurance You might already have rental car insurance through your current insurance coverage or your credit card, however. ), Plan price: 20% of trip cost. Does To become a driver on Turo, you must meet the following requirements. : Call your insurance company before you turn down Turos coverage to make sure that youre covered. Even if the policy applies to rental cars, it may not cover a peer-to-peer service. If your primary car insurance company wont cover you for placing your car on Turo, you can buy supplemental coverage from Turo through Liberty Mutual. Actual rates will vary. Turo charges a minimum of $14/day on this plan. She married her husband and began working in the family insurance business in 2005. If you choose to, you could also get the Turo protection plan. Personal insurance requirements | Guests - Turo OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105.