Jeffrey Wade
Whether you're a host or a renter on Turo, you need sufficient auto insurance. Turo offers three protection plans for physical damage for drivers: Minimum, Standard, and Premier. However, these plans do not include extras like personal injury protection or uninsured motorist coverage. Turo is not an insurance company, and its physical damage reimbursement is not insurance. As a car owner renting your vehicle on Turo, you will need insurance, which can be commercial, and you'll choose a plan through Turo when listing your car. If you're a renter, you should check with your insurance carrier if your policy covers rental or other cars that you drive.
| Characteristics | Values |
|---|---|
| Is car insurance mandatory to drive a Turo vehicle? | Maybe. Turo renters often find that their personal insurance policy's comprehensive and collision coverage extends to a rental car. However, it is always best to verify this with your insurance provider as some companies may treat peer-to-peer car rental services differently from traditional car rental agencies. |
| What if my insurance covers Turo rental vehicles? | You will be responsible for your deductible and will have a claim on record. |
| What if I don't have insurance? | You can buy a protection plan from Turo. Turo offers three protection plans for physical damage for drivers: Minimum, Standard, and Premier. |
| What does the Minimum plan include? | The state minimum for liability coverage in the state you're renting in and a deductible of up to $3,000 if the car is damaged (not including interior or mechanical damage, for which you're responsible). |
| What does the Standard plan include? | The state minimum for liability coverage and lowers the damage deductible to $500. |
| What does the Premier plan include? | Not mentioned in the sources. |
| How much does each plan cost? | Premium protection is 65% of the cost of your rental, Standard is 40%, and Minimum is 18% to 25%. |
| What if I decline Turo's protection plans? | You will still receive the state minimum of liability protection, as driving without it would be illegal. However, you will be responsible for the full cost of repairing or replacing the car if it is damaged, lost, or stolen. |
| What does Turo's coverage not include? | Extras like personal injury protection or uninsured motorist coverage, except where it's required by law. |
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What You'll Learn
Turo is not an insurance company
Turo does not automatically provide insurance coverage for both hosts and renters. However, both parties have multiple protection plans they can choose from or decline if they have their own applicable commercial or personal auto policies. If you opt for a Turo protection plan and you are already insured, their liability insurance will supplement your existing coverage as a secondary source.
As a car owner renting your vehicle on Turo, you will need insurance, which can be commercial, and you'll choose a plan through Turo while listing your car. If you are the person renting the car, it is important to ask your insurance carrier if your policy covers rental or other cars that you drive. This is meant for rental cars you pay to use on vacation, for example. It is important to note that Turo insurance and the standard rental car coverage in an insurance policy are completely different.
As a Turo renter, it is imperative to double-check with your insurance company to see if your personal car insurance coverage extends to a rental car. Many insurers have no issues covering most rental cars, but may not cover Turo rentals specifically because of the peer-to-peer system. Be sure to ask exactly what coverages extend to a Turo vehicle — in many cases, insurance providers may offer liability but not physical coverage for a rental car.
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Hosts and renters must have car insurance
Whether you are a host or a renter on Turo, you need to have sufficient auto insurance. Turo is not an insurance company and does not automatically provide insurance coverage for both hosts and renters. However, it does offer protection plans through Travelers for an additional fee. These protection plans are not a substitute for insurance.
If you are a host, you can decline Turo's car insurance if you have commercial auto insurance, which provides coverage if you are using a car for business purposes. Turo offers off-trip car insurance through the embedded insurance company Trint, which was custom-designed for Turo hosts. However, this coverage is not available in every state, and hosts must have at least three vehicles listed on Turo to apply.
As a host, you are required by law to register and insure your vehicle when it is not being shared on Turo. Your personal insurance policy likely has an exclusion that voids coverage when you share your car in a peer-to-peer car-sharing marketplace. Therefore, it is essential to review your insurance policy carefully and understand the terms and conditions of your coverage.
If you are a renter, it is crucial to check with your insurance carrier if your policy covers rental cars or other vehicles you drive. Some insurance companies may treat peer-to-peer car rental services differently from traditional car rental agencies, so it is always best to verify with your provider. If your insurance does cover you in a Turo rental and the car is damaged, you are responsible for your deductible.
In summary, while Turo provides protection plans, it is important for both hosts and renters to have their own car insurance policies in place to ensure they are adequately covered.
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Turo offers protection plans for an additional fee
Turo is a peer-to-peer car-sharing service that lets you rent another person's vehicle. It is important to note that Turo is not an insurance company and does not automatically provide insurance coverage for both hosts and renters. However, Turo offers protection plans for an additional fee. These protection plans are available for both hosts and renters to choose from or decline if they have their own applicable commercial or personal auto policies.
If you are a host, you can choose a protection plan when listing your car on Turo. It is important to note that your personal insurance policy likely has an exclusion that voids coverage when you share your car in a peer-to-peer car-sharing marketplace. Therefore, it is essential to review your insurance policy carefully before renting out your vehicle on Turo. The protection plans offered by Turo for hosts include liability insurance, which protects against legal exposure for claims of bodily injury or property damage to a third party during a guest's trip. Additionally, Turo offers reimbursement for replacement vehicles if the host's car is damaged during a guest's trip, which can provide up to $50 per day for up to 10 days to compensate for the inconvenience.
For renters, Turo offers three levels of protection: premium, standard, and minimum. These plans vary in cost, third-party liability coverage, and deductible amounts. The premium plan provides the highest level of protection, with a cost of 65% of the trip price, third-party liability coverage of up to $750,000, and a deductible of $0. The standard plan offers a balance between protection and cost, with a 40% trip price, minimum state-required third-party liability coverage, and a $500 deductible. The minimum plan is the most affordable option, with a cost of 18% or 25% of the trip price, minimum state-required third-party liability coverage, and a $3,000 deductible.
It is important to note that regardless of the protection plan chosen, renters are not responsible for physical damage beyond the deductible. Additionally, if renters have their own personal insurance, it may cover rental cars, but it is essential to verify this with their insurance provider, as some companies may treat peer-to-peer rentals differently.
In summary, while Turo does not provide insurance coverage, it offers protection plans for both hosts and renters, providing peace of mind and financial protection in the event of accidents or damage during trips. However, it is always advisable to carefully review your own insurance policies and Turo's protection plan details before using the platform.
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Hosts are responsible for the deductible amount
When it comes to using the Turo platform, it is important to understand the insurance requirements and protections in place, especially regarding the deductible amount for hosts. Firstly, it is crucial to note that Turo is not an insurance company and does not provide insurance coverage for hosts or renters automatically. As a host, you will need to have your own insurance, which can be commercial insurance, and you will choose a protection plan offered by Turo when listing your car.
The protection plans offered by Turo vary in terms of the level of coverage and the percentage of the trip price you earn. All host protection plans in the United States include third-party liability insurance of up to $750,000 from Travelers, as well as varying levels of contractual reimbursement from Turo for physical damage and theft. The key aspect to understand is that as a host, you are responsible for the deductible amount, which is the amount you must pay before Turo provides reimbursement for eligible physical damage repairs.
The deductible amount varies depending on the protection plan you choose. For example, if you choose the 75 plan, where you earn 75% of the trip price, your deductible will be higher compared to a plan with a lower earning percentage. If your car is damaged during a Turo trip, you will need to notify Turo and provide pre and post-trip photos within 24 hours of the end of the trip. After paying the deductible amount, Turo will reimburse the remaining eligible repair costs up to the actual cash value of the car or a specified maximum amount, such as $200,000 or $125,000, depending on the plan and location.
It is worth noting that none of the plans include reimbursement for interior wear and tear, and only the 60 plan includes exterior wear and tear reimbursement. Additionally, in certain states, such as Washington, physical damage to the host's vehicle is covered by insurance purchased by Turo, but this does not change the host's contractual responsibilities regarding physical damage. While Turo provides protection plans, it is always recommended to clarify the specifics of your insurance coverage with your insurance provider, as the details may vary.
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Turo offers three levels of protection
When it comes to car insurance and driving with Turo, it's important to understand the options available. Turo offers three levels of protection for hosts, providing varying degrees of coverage for different situations. These protection plans are separate from any personal or commercial car insurance you may already have, which remains essential when renting out your vehicle. Here's a detailed breakdown of the three levels of protection offered by Turo:
- Liability Insurance: This is provided under a policy issued to Turo by the Travelers Excess and Surplus Lines Company. It includes up to $750,000 in third-party liability insurance and offers varying levels of contractual reimbursement for physical damage and theft. The specific coverage depends on the plan chosen. It's important to note that liability insurance does not cover damage to the host's vehicle.
- Physical Damage Reimbursement: While not insurance, this option provides a contractual allocation of risk between you and Turo. If your vehicle is damaged during a trip, you must notify Turo and provide pre- and post-trip photos within 24 hours of the trip's end. Hosts are responsible for the deductible amount, after which Turo will reimburse the remaining eligible repair costs.
- Wear and Tear Reimbursement: This protection is included in the 60 plan and covers exterior wear and tear, such as dings, dents, cracks, or scratches up to three inches in diameter. It's important to note that none of the plans include reimbursement for interior wear and tear.
The level of protection you choose will depend on your specific needs and preferences. It's always a good idea to carefully review the terms, conditions, and exclusions of each plan before making a decision. Additionally, remember that these protection plans are separate from any personal or commercial car insurance policies you may have, which are still necessary when renting out your vehicle through Turo.
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Frequently asked questions
Turo renters often find that their personal insurance policy's comprehensive and collision coverage extends to a rental car. However, you should always verify this with your insurance provider as some companies may treat peer-to-peer car rental services differently from traditional car rental agencies.
You can purchase a protection plan from Turo, which offers three levels of physical damage protection: Minimum, Standard, and Premier. You can also use a credit card that offers rental car coverage, although most exclude coverage for vehicles rented through peer-to-peer services.
The Minimum coverage includes the state liability coverage minimum and a deductible of up to $3,000 if the car is damaged (not including interior or mechanical damage). Standard coverage includes the state minimum for liability coverage and lowers the damage deductible to $500. The Premier option is not available if the vehicle is worth more than $60,000, or $25,000 for certain vehicles.
You will still receive the state minimum of liability protection, as it would be illegal to drive without it. However, you will be responsible for the full cost of repairing or replacing the car if it is damaged, lost, or stolen.
