Century Auto Insurance: Exploring Turo Coverage

Turo is a peer-to-peer car-sharing service that allows users to rent another person's vehicle. Similar to Airbnb, Turo lets users drive another person's car instead of a vehicle from a fleet of rental cars. While Turo offers its own insurance coverage, users can decline it if they have their own coverage. However, it is important to understand what your coverage includes and whether you need additional coverage. This is because Turo is not the same as a traditional rental car, and your insurance or credit card coverage may not apply.

Turo's insurance coverage for hosts

Turo is a peer-to-peer car-sharing service that allows users to rent another person's vehicle. It is important to note that Turo is not an insurance company and does not provide automatic insurance coverage for hosts or renters. However, they do offer protection plans through Travelers for an additional fee.

Turo offers five different protection plans for peer-to-peer hosts, with varying levels of benefits. The plans are named based on the percentage of the trip price that the host earns: 60, 75, 80, 85, or 90 plans. Here are the details of each plan:

• 60 Plan: Hosts earn 60% of the trip price. This plan includes up to $750,000 in third-party liability insurance, with Turo paying 100% of eligible damage costs. It also includes exterior wear and tear reimbursement for eligible vehicles and loss of hosting income during repair or $50/day replacement vehicle reimbursement for up to 10 days.
• 75 Plan: Hosts earn 75% of the trip price. This plan includes up to $750,000 in third-party liability insurance, with Turo paying 100% of eligible damage costs above the deductible. It also includes $30/day replacement vehicle reimbursement during repair for up to 10 days.
• 80 Plan: Hosts earn 80% of the trip price. This plan includes up to $750,000 in third-party liability insurance, with Turo paying 100% of eligible damage costs above the deductible. It does not include replacement vehicle reimbursement or exterior wear and tear reimbursement.
• 85 Plan: Hosts earn 85% of the trip price. This plan includes up to $750,000 in third-party liability insurance, with Turo paying 100% of eligible damage costs above the deductible. It does not include replacement vehicle reimbursement, exterior wear and tear reimbursement, or loss of hosting income.
• 90 Plan: Hosts earn 90% of the trip price. This plan includes up to $750,000 in third-party liability insurance, with Turo paying 100% of eligible damage costs above the deductible. It does not include replacement vehicle reimbursement, exterior wear and tear reimbursement, or loss of hosting income.

It is important to note that the higher the percentage of the trip price the host earns, the higher the deductible and the fewer reimbursements available. Additionally, the host protection plans only apply to trips booked on Turo, and hosts are still required by law to have their own personal car insurance for their vehicle when it is not being shared on Turo.

Turo also offers off-trip insurance through an embedded insurance company called Trint. This coverage is available for hosts with at least three vehicles listed on Turo and only covers vehicles driven for business use.

Hosts can also choose to decline Turo's protection plans if they have commercial auto insurance, which provides coverage for using a car for business purposes. However, in this case, Turo will not bear responsibility for any damage to the vehicle.

Turo's insurance coverage for guests

Turo is a peer-to-peer car-sharing service that lets you rent another person's vehicle. It is not the same as a traditional rental car, so if you have rental car coverage with your insurance or credit card, it may not apply to Turo.

Turo offers three different levels of protection for renters in the U.S.: premium, standard, and minimum. Higher levels cost more but provide extra benefits. Here are the details of each plan:

Premium Plan

• Cost: 65% of trip price. Minimum $14/day.
• Third-party liability coverage: Up to $750,000.
• Restrictions: Must be 21 or older to buy. Not available for all vehicles or trips.

Standard Plan

• Cost: 40% of trip price. Minimum $12/day.
• Third-party liability coverage: Minimum amount required by the state.

Minimum Plan

• Cost: 18% of trip price if it costs less than $250, otherwise 25% of the trip. Minimum $10/day.
• Third-party liability coverage: Minimum amount required by the state.

Regardless of the guest protection plan chosen, guests won't be responsible for physical damage beyond the deductible. However, they will be responsible for any mechanical or interior damage to the car. Guests will also need to use any personal auto insurance coverage first before Turo's coverage applies.

Guests can also opt to decline Turo's protection plans. In this case, they won't be paying for insurance, but they will only receive the minimum amount of third-party liability insurance coverage required by the state where the car is registered. Guests will then be responsible for all costs related to physical, mechanical, and interior damage, as well as administrative claims fees and appraisal costs.

It is important to note that most credit card travel insurance policies that cover rental car insurance do not cover Turo. Additionally, Turo's contract is secondary to any personal insurance the guest may have.

Turo's insurance coverage for commercial hosts

Turo is a peer-to-peer car-sharing service that allows individuals to act as hosts and list their personal vehicles for others to rent. Turo does not automatically provide insurance coverage for hosts, but it does offer protection plans through Travelers for an additional fee.

Turo offers five different protection plans for peer-to-peer hosts, with varying levels of benefits. The plans are named after the percentage of the cost the host receives: 60, 75, 80, 85, or 90. The more expensive the plan, the more benefits the host receives but the lower their take-home amount per trip.

All plans include $750,000 of third-party liability insurance, which is secondary to any personal auto insurance coverage the host may have. Turo will also pay for eligible damage costs to the host's vehicle up to the actual cash value of the car or $200,000, minus the deductible.

The 60 plan includes exterior wear and tear reimbursement, loss of hosting income during repair, or $50/day replacement vehicle reimbursement. The 75 plan includes $30/day replacement vehicle reimbursement during repair. The 80 and 85 plans do not include exterior wear and tear reimbursement or loss of hosting income during repair. The 90 plan is the highest-risk, highest-reward option, with no replacement vehicle reimbursement or exterior wear and tear reimbursement.

Hosts can also decline Turo's protection plans if they have commercial auto insurance, which provides coverage for using a car for business purposes. However, Turo will not bear responsibility for any damage to the vehicle in this case.

In addition to Turo's protection plans, hosts may also want to consider off-trip insurance, which covers vehicles when they are not being rented out. Period X™ Rental Fleet Owner Insurance is one example of this, providing on-demand insurance coverage for vehicles outside of rentals.

Turo's insurance coverage for peer-to-peer hosts

Turo is a peer-to-peer car-sharing service that allows users to rent another person's vehicle. It is similar to Airbnb, where instead of renting a hotel room, you rent another person's car.

Turo offers five different protection plans for peer-to-peer hosts, with varying levels of benefits. The plans include:

• Top-tier protection plan: This plan offers the most comprehensive coverage, including up to $750,000 in third-party liability insurance, exterior wear and tear reimbursement, and loss of hosting income during repair or $50/day replacement vehicle reimbursement. The host earns 60% of the trip price.
• Solid coverage with a minimal deductible: This plan offers up to $750,000 in third-party liability insurance, $30/day replacement vehicle reimbursement during repair, and Turo pays 100% of eligible damage costs above the deductible. The host earns 75% of the trip price.
• Moderate deductible plan: This plan includes up to $750,000 in third-party liability insurance, and Turo pays 100% of eligible damage costs above the deductible. The host earns 80% of the trip price.
• Larger deductible plan: This plan also includes up to $750,000 in third-party liability insurance, and Turo pays 100% of eligible damage costs above the deductible. However, there is no replacement vehicle reimbursement during the repair, and it does not include exterior wear and tear reimbursement or loss of hosting income during the repair. The host earns 85% of the trip price.
• Highest risk, highest reward plan: This plan offers the highest earnings for the host at 90% of the trip price. It includes up to $750,000 in third-party liability insurance, and Turo pays 100% of eligible damage costs above the deductible. However, it does not include replacement vehicle reimbursement during repair, exterior wear and tear reimbursement, or loss of hosting income during repair.

It is important to note that Turo is not an insurance company, and the contractual reimbursement for physical damage to the host's vehicle is not insurance. Turo will reimburse hosts for eligible physical damage costs in excess of the deductible, subject to terms and exclusions, up to the actual cash value of the vehicle or $125,000.

Additionally, Turo offers off-trip car insurance through the embedded insurance company Trint. This coverage is only available in certain states and is only applicable to hosts with at least three vehicles listed on Turo. It is also important to note that this coverage only applies to vehicles driven for business use, not for personal use.

Turo's insurance coverage for renters

Turo is a peer-to-peer car-sharing service that allows users to rent another person's vehicle. It is similar to Airbnb, where instead of renting a hotel room, users can rent another person's car.

Turo is not an insurance company, but it does offer protection plans through Travelers for an additional fee. These protection plans are available for both renters and guests.

Turo Insurance Coverage for Renters

Turo offers three different levels of protection for renters in the US: premium, standard, and minimum. Higher levels cost more but provide extra benefits. Here is a breakdown of the three plans:

• Premium Plan: This plan costs 65% of the trip price, with a minimum of $14/day. It offers third-party liability coverage of up to $750,000. This plan has restrictions, including that the renter must be 21 or older to purchase it, and it may not be available for all vehicles or trips.
• Standard Plan: The standard plan costs 40% of the trip price, with a minimum of $12/day. It provides third-party liability coverage at a minimum amount required by the state.
• Minimum Plan: This plan costs 18% of the trip price if it is less than $250, otherwise 25% of the trip price. The minimum cost is $10/day. It offers third-party liability coverage at a minimum amount required by the state.

Regardless of the guest protection plan chosen, renters won't be responsible for physical damage beyond the deductible. However, they will be responsible for any mechanical or interior damage to the car. Additionally, renters will need to use any personal auto insurance coverage before Turo's coverage applies.

Renters can also choose to decline protection, which means they won't have to pay for insurance. However, they will only receive the minimum amount of third-party liability insurance coverage required by the state where the car is registered. Renters will then be responsible for all costs related to physical, mechanical, and interior damage, as well as administrative claims fees and appraisal costs.

It is important to note that most credit card travel insurance policies that cover rental car insurance do not cover Turo rentals. Therefore, renters should carefully review their credit card benefits and understand the extent of their coverage before assuming that it applies to Turo rentals.

Frequently asked questions