Turo Insurance: How Does it Work?

Do you want to make money by sharing your car but don’t know how? Turo Insurance is one option to make money by renting out your car. Finding comprehensive coverage and understanding the process of how it all works, however, can be confusing. In this article, you’ll learn how Turo Insurance works and how you can make your car rental safe and profitable.

What is Turo?

Turo is an online car-sharing platform where car owners rent their vehicles out to others. Renters can access the platform to rent cars all over the country, instead of relying on traditional car rental companies. Turo provides both the owners and renters with peace of mind since the platform is insured and verified. Owners are covered by Turo’s $1M liability insurance in the US each time their car is rented, and renters are covered with primary rental car insurance in most states. In addition, under Turo’s policy, renters are subject to a $500 deductible if they damage the car while they are in it and a no-deductible coverage option is available in certain areas.

How Does Turo Insurance Work?

Turo Insurance offers both owners and renters protection in the form of liability coverage and optional coverage, such as collision damage waiver (CDW) and personal accident insurance (PAI). Liability coverage provides protection for third parties if the car rented through Turo is involved in an accident and the renter is liable. The optional coverage provides protection for the car owner and the renter in case of an accident or theft.

For the owner, optional coverage options include Collision Damage Waiver (CDW) and Personal Accident Insurance (PAI). CDW covers the cost of repairs to the vehicle and PAI covers the renter’s medical bills, in case of an accident. The renter has the option to purchase optional coverage to protect his/her liability in case of an accident or theft. The coverage options available for the renter are: Personal Accident Insurance, Supplementary Liability Insurance and Roadside Assistance.

Turo also provides a range of ancillary services such as roadside assistance, mechanical breakdown coverage and rental car coverage, helping to make car rental through the platform safer and more convenient.

FAQ

What kind of insurance do I need to rent out my car?

You need to have a valid auto insurance policy issued by your insurance provider. Turo also offers supplemental coverage that can be added to your existing policy.

How does Turo Insurance protect car owners?

Turo’s $1M liability coverage provides protection for car owners in the event that the renter damages a third-party property. The optional coverage options for car owners include Collision Damage Waiver (CDW) and Personal Accident Insurance (PAI). CDW covers the cost of repairs to the car while PAI covers the renter’s medical bills, in case of an accident.

If you are searching about How does Turo insurance work? – Stealthy and Wealthy you’ve visit to the right page. We have 5 Images about How does Turo insurance work? – Stealthy and Wealthy like How does Turo insurance work? – Stealthy and Wealthy and also 🤑how to make money on turo [2020] – YouTube. Here you go: