How much does Turo insurance cost?
The cost of Turo insurance can vary depending on factors such as the level of coverage you choose, the value of the vehicle you’re renting, your age, and driving history. Turo offers three different insurance packages for hosts and guests: Basic, Standard, and Premium.
**Basic insurance** is included with every trip and covers the minimum financial responsibility of the host. It provides liability coverage of up to $30,000 per occurrence for bodily injury and property damage to third parties. Guests are responsible for a deductible of $500 per occurrence for damage to the vehicle.
**Standard insurance** provides coverage of up to $125,000 per occurrence for bodily injury, property damage, and guest medical expenses, and includes a waiver for physical damage to the vehicle. Guests are responsible for a deductible of $750 per occurrence for damage to the vehicle.
**Premium insurance** is the most comprehensive coverage offered by Turo and includes up to $1 million in liability protection per occurrence, as well as coverage for the host’s lost earnings. Guests are responsible for a deductible of $250 per occurrence for damage to the vehicle.
The cost of Turo insurance is typically included in the total price of the rental, and hosts have the option to either include insurance in the rental price or offer it as an add-on cost to guests.
What factors influence the cost of Turo insurance?
The cost of Turo insurance is influenced by factors such as the level of coverage selected, the value of the vehicle being rented, the renter’s age, driving history, and location. Premium insurance will cost more than Basic insurance due to the increased coverage provided.
Is Turo insurance required?
Turo requires hosts to carry their own insurance that meets the minimum coverage requirements in their state, but also offers Turo insurance as an additional layer of protection. Guests are not required to purchase Turo insurance, but it is highly recommended in case of accidents or damages.
Can I use my personal insurance for Turo rentals?
Turo allows hosts to use their own personal insurance for rentals, but it must meet the minimum coverage requirements set by Turo. Guests can also use their personal insurance for rentals, but it is recommended to purchase Turo insurance for added protection.
Can I decline Turo insurance?
Guests have the option to decline Turo insurance if they have coverage through their personal policy or credit card, but they will still be responsible for the deductible in case of damages to the vehicle. Hosts are required to have their own insurance, but can choose to decline Turo insurance if they wish.
Can I add an additional driver to my Turo insurance?
Turo allows hosts and guests to add additional drivers to their insurance coverage, but each driver must meet Turo’s eligibility requirements and pay the additional fee for insurance coverage. Adding an additional driver may increase the cost of insurance.
Can I purchase Turo insurance for a trip outside of the US?
Turo insurance is only available for trips within the US and Canada, and does not cover rentals outside of these countries. Hosts and guests traveling abroad should check with their personal insurance provider or credit card company for coverage options.
Does Turo insurance cover damage to personal belongings?
Turo insurance only covers damage to the vehicle and third-party liability, and does not cover personal belongings inside the vehicle. Hosts and guests are responsible for their own personal property and should consider purchasing separate insurance for valuables.
Can Turo insurance cover off-road activities?
Turo insurance does not cover off-road activities, and the vehicle must be operated on public roads within the designated rental period. Engaging in off-road activities may void the insurance coverage provided by Turo.
Is there a deductible for Turo insurance?
Turo insurance policies include a deductible for guests in case of damage to the vehicle, which ranges from $250 to $750 depending on the level of coverage selected. Hosts are responsible for any deductibles associated with their personal insurance policies.
Can I cancel or modify my Turo insurance after booking?
Turo allows hosts and guests to modify or cancel their insurance coverage up to 24 hours before the start of the trip, but fees may apply. It is recommended to review the insurance terms and conditions before making any changes.
What happens if I don’t have insurance for my Turo rental?
If you do not have insurance for your Turo rental, you may be responsible for any damages to the vehicle or third-party liabilities out of pocket. It is important to have adequate insurance coverage to protect yourself in case of accidents or unexpected events.