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Turo car insurance review 2022

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Turo car insurance is part of the car-sharing program, Turo, which is an alternative to traditional car rental companies. Turo is similar to Airbnb, in that you own the vehicle, but can rent your vehicle for use by others for a short period of time. If you list your vehicle on the platform, you must purchase Turo car insurance, which provides coverage to your vehicle and the other driver during the rental period. Turo offers several car insurance plans that vehicle owners can purchase to protect their vehicle during a rental period.

Perks Drawbacks
All policies come with $750,000 in third-party liability coverage provided by Travelers Coverage only offered to vehicles rented through the Turo platform
Several policy options to choose from Since Travelers underwrites Turo insurance policies, customer satisfaction or financial strength ratings are not available specifically for Turo
With every policy, renting drivers have access to 24/7 roadside assistance

Turo offers its own car insurance policies underwritten by Travelers. If you list your vehicle for rent on Turo, you can choose between several insurance policies to cover the car while it is being rented. Note that the vehicle host, not the driver, is responsible for covering the cost of damages sustained by the vehicle.

Turo hosts should still hold a personal car insurance policy whether they rent out their vehicle or not, but will also need to purchase separate coverage through Turo if using this rideshare platform. Most personal car insurance policies do not extend coverage to vehicles while being used as part of a business, except if they offer Rideshare coverage as an add-on. Because Turo hosts make money on every rental, personal auto insurance policies usually do not extend coverage to losses pertaining to the vehicle while in use as a rental.

Turo car insurance | Bankrate Score: Unrated

Turo hosts can choose from five Turo car insurance plans, all of which come with $750,000 in third-party liability coverage provided by Travelers. In addition, drivers get access to 24/7 roadside assistance for every trip regardless of the policy the vehicle owner selects. Since Turo car insurance is specifically created for the Turo car-sharing app, third party customer service and financial strength ratings are not available.

The cost for each Turo car insurance policy is covered by a portion of the money Turo’s rental drivers pay to rent the host’s car. The deductible that the host pays ties to the percentage of the trip cost the host retains as profit. The greater the percentage, the higher the deductible the host will pay.

Here are the Turo car rental insurance plans available:

  • 60 Plan: With the 60 Plan, hosts earn 60% of the trip price and there is no deductible for claims. The plan fully reimburses the host for any exterior wear and tear, and it includes either loss of hosting income for the time it takes to complete repairs, or $50 per day for a replacement vehicle reimbursement.
  • 75 Plan: Hosts who choose the 75 Plan will get 75% of the trip price. In this case, hosts assume a $250 deductible for physical damage, but the plan does not cover exterior wear and tear. Hosts can get $30 per day for a replacement vehicle if their car is damaged and needs repairs. The 75 Plan does not include any income loss coverage.
  • 80 Plan: Turo hosts get 80% of the trip price with the 80 Plan. This plan comes with a $750 deductible for physical damage and does not include any coverage for exterior wear and tear, replacement vehicle reimbursement or loss of income.
  • 85 Plan: With the 85 Plan, hosts get to keep 85% of the trip price, but have a $1,625 deductible. This plan extends no coverage for exterior wear and tear, replacement vehicles or loss of income.
  • 90 Plan: The 90 Plan allows hosts to keep 90% of the trip price. The deductible for this plan is $2,500 and excludes coverage for exterior wear and tear, replacement vehicles or loss of income.

Turo car insurance discounts

Whether for rideshare or personal vehicle use, you may be wondering how to lower your car insurance. Turo doesn’t offer car insurance discounts to hosts and customers using its ridesharing service. However, Turo hosts may be able to gain exclusive access to Liberty Mutual’s small fleet insurance policy and save. Turo hosts may also be able to save on their car insurance by linking their Turo and Metromile accounts. Discuss options with a few agents if you are interested in learning how to leverage insurance providers affiliated with Turo for additional savings.

Turo car services

Turo is primarily a car-sharing program that allows customers to rent vehicles from participating vehicle owners who host through the Turo app. In addition to this car-sharing service, Turo drivers get access to 24/7 roadside assistance. Beyond this service, Turo does not offer any additional car services.

Other Turo perks worth considering

Turo offers the following advantages to its users.

  • Discounts: Turo users may be eligible to receive significant discounts from companies like Jiffy Lube and Safelite on their vehicle services.
  • Calculator tool: Turo’s online calculator is designed to help potential car-sharing hosts see how much money they could earn per trip by listing their vehicle.
  • Learning guides: Turo’s website includes articles about getting started, taking pictures of your vehicle, cleaning and disinfection and how to perform a contactless check-in.
  • Insight articles: Turo publishes articles that may help hosts stay updated on trends in the travel and auto industry.
  • Sustainability resources: Turo’s website lists resources on how to “drive green” and minimize your emissions while on the road.

Turo social responsibility

Bankrate’s insurance editorial team also assessed the company’s social responsibility initiatives in our Turo insurance review. In 2021, Turo announced that it will become the first car rental or car sharing marketplace to become carbon neutral. The company offsets its emissions through emission reduction initiatives, including a transportation efficiency project and sustainable forestry projects. In addition, it provides free educational resources to help drivers learn about ways to be more eco-friendly in their driving habits.

Not sure if Turo is right for you? Consider these alternatives

Turo car insurance policies are used exclusively by Turo hosts to insure the vehicles that they rent out to customers. If you’re looking for traditional car insurance for your vehicle, you’ll likely want to explore options other than Turo. Depending on your state, ridesharing coverage may be an available add-on from one or more of these insurers (if you choose to rideshare your vehicle on a platform other than Turo). The best way to find the right coverage is by researching and comparing multiple quotes from a list of car insurance companies available in your area:

  • State Farm: In the 2022 Bankrate Awards, State Farm was named one of the best car insurance companies in the U.S. for its near-nationwide coverage, high claims satisfaction and low premiums. It also offers rideshare insurance coverage in some states. If you’re looking for a provider for your personal vehicle, you may want to research State Farm’s coverage options.
  • USAA: USAA tied with State Farm for best overall auto insurance company in the 2022 Bankrate Awards thanks to its low premiums, high customer satisfaction and nationwide availability. The company was also named one of the best home insurance companies overall, which may be beneficial if you’re hoping to bundle your auto and home insurance policies. However, keep in mind that the company only writes policies to members of the U.S. military, veterans and qualifying family members.
  • Travelers: Travelers insurance won a Bankrate Award for best budget auto insurance company. If you’re looking to save money, Travelers may be a good option for you. In addition to low premiums, Travelers’ wide range of coverage options, near-nationwide availability and digital tools may be right for you. The company also offers rideshare insurance in certain states.

Methodology

Bankrate Scores

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Written by
Lizzie Nealon
Insurance Writer
Lizzie Nealon is a former insurance writer for Bankrate. Her favorite part of the job is making home, auto and life insurance digestible for readers so they can prepare for the future.
Edited by
Insurance Editor