Navigating Auto Insurance With Turo: A Comprehensive Guide

Turo is a peer-to-peer car-sharing service that allows users to rent another person's vehicle. Similar to Airbnb, Turo allows users to drive another person's car rather than a vehicle from a fleet of rental cars. Turo does not automatically provide insurance coverage, but it does offer protection plans through Travelers for an additional fee. These plans are not mandatory, and users can choose to rely on their personal car insurance policies or credit card benefits. However, it is important to note that Turo is not considered the same as a traditional rental car by most insurance companies, and therefore, your personal insurance or credit card coverage may not apply.

Turo insurance for guests

Turo is a peer-to-peer car-sharing company that allows individuals to act as hosts and list their vehicles for rent. It is important to note that Turo does not automatically provide insurance coverage for either hosts or renters. However, Turo offers protection plans for both parties, which are optional.

As a guest renting a car through Turo, you have the option to rely on your personal car insurance policy, provided that your coverage extends to your Turo rental. If your current policy does not cover Turo rentals, you can choose from three tiers of coverage through Turo's protection plans. These plans are not required, and you can decline them if you have your own insurance that sufficiently covers the rental.

The three tiers of coverage offered by Turo's protection plans for guests are:

• 18% of the trip price for trips over $250 and 25% for trips under $250, with a minimum of $10/day.
• 40% of the trip price, with a minimum of $12/day.
• 100% of the trip price, with a minimum of $14/day.

It is important to note that these plans only cover physical damage to the vehicle and do not include mechanical or interior damage. Additionally, the physical damage portions of the first two tiers are meant to be used as secondary coverage to any other insurance you may have, while the third tier is intended to be used as primary coverage.

Before renting a car through Turo, it is recommended to review your personal insurance policy to ensure that it covers Turo rentals specifically. Additionally, if you have any credit card benefits for rental vehicles, check with your credit card provider to understand the extent of their coverage.

Turo insurance for hosts

Turo offers five host protection plans, each of which includes up to $750,000 in third-party liability insurance, provided under a policy issued to Turo by Travelers Excess and Surplus Lines Company. The third-party liability insurance covers hosts in the case of third-party claims that may occur during a trip.

The five plans also offer varying levels of vehicle protection, including reimbursement for car repairs up to the actual cash value of the car in case of damage during a trip. The plans also include 24/7 roadside assistance.

Splurge on top-tier protection with the full suite of extra benefits:

• Earn 60% of the trip price.
• Up to $750,000 in third-party liability insurance.
• Turo pays 100% of eligible damage costs.
• Includes exterior wear and tear reimbursement for eligible vehicles.
• Includes loss of hosting income during repair or $50/day replacement vehicle reimbursement (10-day max).

Spring for solid protection with a minimal deductible:

• Earn 75% of the trip price.
• Up to $750,000 in third-party liability insurance.
• Turo pays 100% of eligible damage costs above the deductible.
• $30/day replacement vehicle reimbursement during repair (10-day max).
• Doesn't include exterior wear and tear reimbursement.
• Doesn't include loss of hosting income during repair.

Pocket more with a moderate deductible:

• Earn 80% of the trip price.
• Up to $750,000 in third-party liability insurance.
• Turo pays 100% of eligible damage costs above the deductible.
• No replacement vehicle reimbursement during repair.
• Doesn't include exterior wear and tear reimbursement.
• Doesn't include loss of hosting income during repair.

Earn big by taking on a larger deductible:

• Earn 85% of the trip price.
• Up to $750,000 in third-party liability insurance.
• Turo pays 100% of eligible damage costs above the deductible.
• No replacement vehicle reimbursement during repair.
• Doesn't include exterior wear and tear reimbursement.
• Doesn't include loss of hosting income during repair.

Cash in on the highest risk, highest reward plan:

• Earn 90% of the trip price.
• Up to $750,000 in third-party liability insurance.
• Turo pays 100% of eligible damage costs above the deductible.
• No replacement vehicle reimbursement during repair.
• Doesn't include exterior wear and tear reimbursement.
• Doesn't include loss of hosting income during repair.

It is important to note that while Turo provides insurance for hosts during trips, hosts are still required to have their own personal car insurance for their vehicles. This personal insurance does not typically cover the vehicle when it is being rented out. As such, some hosts opt for additional commercial insurance to cover their vehicles outside of rentals.

Turo insurance cost

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 hosts, with the cost being a percentage of the trip price or the earnings made per rental. The plans are named based on the percentage of the trip price the host keeps: 60, 75, 80, 85, or 90 plans. The more comprehensive plans come at a higher cost, with the 60 plan being the most expensive and the 90 plan being the least expensive.

The 60 plan includes:

• Up to $750,000 in third-party liability insurance
• $50/day reimbursement for a replacement vehicle for up to 10 days
• Exterior wear and tear reimbursement
• Loss of hosting income during repair

The 75 plan includes:

• Up to $750,000 in third-party liability insurance
• $30/day reimbursement for a replacement vehicle for up to 10 days

The 80 and 85 plans include:

Up to $750,000 in third-party liability insurance

The 90 plan includes:

• Up to $750,000 in third-party liability insurance
• No additional benefits

Turo offers three levels of protection for renters: premium, standard, and minimum. The premium plan is the most expensive, followed by the standard plan, and then the minimum plan.

The premium plan includes:

• Up to $750,000 in third-party liability coverage
• 65% of the trip price, with a minimum of $14/day
• Must be 21 or older to purchase
• Not available for all vehicles or trips

The standard plan includes:

• Minimum third-party liability coverage required by the state
• 40% of the trip price, with a minimum of $12/day

The minimum plan includes:

• Minimum third-party liability coverage required by the state
• 18% of the trip price if it costs less than $250, otherwise 25% of the trip price, with a minimum of $10/day

It is important to note that guests who decline Turo's protection plans and rely solely on their personal auto insurance policies may find that their coverage does not extend to peer-to-peer rental services like Turo.

Additional Considerations

Both hosts and guests should carefully review the terms and conditions of Turo's protection plans, as well as their own personal or commercial insurance policies, to ensure they have adequate coverage.

Additionally, Turo offers off-trip insurance through the embedded insurance company Trint. This coverage is only available to hosts with at least three vehicles listed on Turo and is specifically for business use of the vehicles.

Furthermore, guests renting from commercial hosts will be offered an insurance plan from that company, not Turo, with varying prices and plans.

In conclusion, the cost of Turo insurance varies depending on the level of protection chosen and the specific circumstances of the rental. It is important for both hosts and guests to carefully consider their options and choose the plan that best suits their needs and provides adequate coverage.

Turo insurance as a borrower

Turo is a peer-to-peer car-sharing service that allows you to rent another person's vehicle. If you're borrowing a car through Turo, it's important to understand how their protection plans work.

Firstly, it's worth noting that Turo is not an insurance company. They provide protection plans through Travelers for an additional fee. These plans are not mandatory, and you can decline them if you already have your own insurance coverage. However, it's important to check with your insurance company to see if your policy extends to Turo rentals, as many insurers do not cover this service.

If you choose to opt for a Turo protection plan, there are three tiers of coverage available: Premier, Standard, and Minimum. The Premier plan offers the most comprehensive coverage, with a cost of 65% to 100% of the trip price, with a minimum charge of $14 per day. This plan covers you for any damage to the rented vehicle, except for eligible mechanical and interior damage. The Standard plan has a maximum charge of $500 for physical damage to the host's vehicle, excluding eligible mechanical and interior damage. This plan costs 40% of the trip price, with a minimum charge of $12 per day. The Minimum plan has a maximum charge of $3,000 for damage to the host's vehicle, with a $500 damage deposit for non-major damage. The cost varies depending on the trip price, with a minimum charge of $10 per day.

It's important to note that Turo's protection plans only cover physical damage to the vehicle, and mechanical and interior damage are not included. Additionally, these plans are secondary to any other insurance coverage you may have.

If you decline Turo's protection plans, you will still receive the minimum amount of third-party liability insurance required by the state. However, you will be responsible for any damage to the vehicle during your rental period.

In summary, when borrowing a car through Turo, it's crucial to understand the insurance implications. Turo offers protection plans, but these are not mandatory, and you should check with your insurance provider to see if you are already covered. If you opt for a Turo plan, carefully review the terms and conditions to know what you are financially responsible for in the event of an accident.

Turo insurance as an owner

Turo is a peer-to-peer car-sharing service that lets you rent another person's vehicle. If you're a host (the person lending out your car), you're required to have car insurance. Turo offers five different protection plans for peer-to-peer hosts, with varying levels of benefits.

Turo takes a percentage of your trip price, or the earnings you make each time someone rents your car, to pay for your selected protection plan and operating costs. The more expensive the plan, the less you earn, but the more benefits you receive.

All plans include $750,000 of third-party liability insurance. This insurance is secondary, which means you'll need to use any personal auto insurance coverage first before Turo’s coverage applies. Turo will also pay for eligible damage costs to your vehicle up to the actual cash value of your car or $200,000, minus the deductible (the amount that’s subtracted from a claim payout).

• Plan price: 10% of the trip cost (Host keeps 90%)
• Plan price: 15% of the trip cost (Host keeps 85%)
• Plan price: 20% of the trip cost (Host keeps 80%)
• Plan price: 25% of the trip cost (Host keeps 75%)
• Rental reimbursement coverage: Up to $30/day, 10-day maximum
• Plan price: 40% of the trip cost (Host keeps 60%)
• Rental reimbursement coverage: Up to $50/day with a 10-day maximum, or pay for loss of hosting income while your vehicle is repaired
• Other coverage: Exterior wear-and-tear reimbursement

Additionally, Turo offers off-trip car insurance through the embedded insurance company Trint, which is custom-designed for Turo hosts. This coverage is not available in every state, and hosts must have at least three vehicles listed on Turo to apply. It's important to note that this insurance only covers vehicles driven for business use, so personal use requires separate insurance.

As a host, you can decline Turo's car insurance if you have commercial auto insurance, which provides coverage for business use. However, if you decline, Turo won't bear responsibility for any damage to your vehicle.

Frequently asked questions