How Turo Works Part 2 Insurance (Turo Carsharing Power Host)
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- Опубліковано 19 жов 2024
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How do you setup your personal insurance for your fleet of cars? Do you go with very high deductibles since you aren't driving them much since they are being rented out and covered under Turo's insurance most the time? Do you get a major discount since you have so many or do you use many different companies? It would be cool if you covered this in a future video.
I am so thankful for your channel!
Great video. This is why Turo is King as far as car sharing goes.
Very good content 😁. Thank you for making it dummy proof. I have a better understanding now.
I subscribe. To your channel
Hello Saimahs, Thank you for sharing. I am a dealer in Texas, I am looking to get started. I have a few questions if I can help me I will really appreciate.
Do you put the cars on your name or an LLC?
your first Car listed on turo, which level did you choose? How has your experience been collecting or making claims with Turo?
Hi Saimah, appreciate all your videos - very detailed and informative. Is Turo something that can be done by someone who currently have a 8-4 job? I do not want to leave my current job, but have an extra car which I would like to rent out. Are the renters typically okay with picking up the car after 4:00 pm? My second question is once we sign up with Turo's insurance are we not allowed to drive the car for personal use? What happens if something happens when I drive it - will Turo's insurace (Liberty Mutual) cover it?
Have you or can you do a video explain how Turo and tax season works? Meaning can the cars monthly expenses be written off under/as a biz? Or is this just a 1099 income and the cars expenses are yours to deal with and not possible write offs?
What coverages do you usually keep on your personal insurance? Do you tell them the car will be rented?
Have you ever had damages dimes to your car by a renter? How was the process for you? Was Turo responsive or difficult to get a hold of?
I do not believe that Toro should be held responsible for the actions of somebody else, however they should at least back you up as far as they possibly can and try to make things right in whatever way they possibly can. As a side note I really appreciate your information on Toro and would like to start doing it myself partly because of the information we've gotten from you thank you so much.
So if you get the standard, does it cover your maintenance and repairs?
So if I’m renting a car from Turo how premium will cover the car I’ve rented? Is it full coverage? Do I need to have my own insurance? Do I need to have my own full coverage insurance or just liability? Please answer!!
Im about to rent a car from Turo do I have to have insurance or they already have it? And does age matter?
Good video. Is Turo only good for exotic supercars ?? Can you as the business owner also rent out regular cars ?? New cars only or classic cars ?? Used cars ???
I have a quick question, did you buy any of your cars hoping to have Turo renters pay it off, and also did that work the way you intended? I just bought a car and would like someone else to pay for it lol.
Cute bunny ears
Agreed, beautiful skin shade too 😘
How does standard insurance work if my vehicle blew a spark plug during rental period? Renter nor I are at fault.
Thank you!!!
Have you ever caught anyone racing or abusing your cars. i found your videos a few months ago and you helped to make my decision to rent my car. Its an expensive sports car and a renter destroyed my tires, since i couldn't prove it i said nothing. I found out that renters plan to take my car to the track. people on the Turo tips and trick FB page tell me turo will not allow me to fine them. what's your experience?
Thank you for your videos. Great video very helpful
What kind of cars people rent most ? Is it hourly or daily rate ?
Hi Saimahs, I have a question about insurance, do you have a separate insurance for when your cars are not rented?
I hope you can answer my question, thank you so very much in advance,
Does turo accept rebuilt title vehicles for rental
Very help full. Thank you maam !
I was wondering since you use their standard insurance do you still have to get your own insurance for the vehicles?
What insurance do you do? Standard, premium, or no insurance? This is something I had a hard time deciding on
domahnick I would do premium
Why does a host have to have insurance if a renter has insurance? Wouldn’t the renters insurance cover whatever damage occurred during the trip?
Thank you for this
Do you pay taxes through out the year or at the end of the year.
Is an LLC recommended?
I rented car on Turo. I met with an little accident like the opponent was waiting on red single and I hit the car from behind. There few scratches on rear bumper of opponent’s car. Nothing on my car. And I took minimum car insurance for that trip.
The opponent is saying there’s almost $300 repair expense. Now how Will i get by turo !
Interesting, I am currently going through my second insurance incident where are renter damaged my vehicle. I have the Standard coverage option and it is not as simple as you listed here. I have had communication issues, I have had issues where Liberty Mutual is working with my shop directly and Liberty and the shop both agree but Turo is trying to weasel their way out of paying, even stating that they will put non OEM after market parts on my car, which would mean I do not receive the car back the way it was even before it was listed on Turo. Because of a Turo renter and Turo's terms and service and their wn policies (they state) that I will not receive my car the way it was when it comes back due to these policies. It's been over two months and I'm still dealing with this issue. Their claims people have been extremely rude and the claims department and Liberty mutual do not even know how to communicate properly. None of what you stated has been my experience on both instances and this makes me wonder if I should even have my high performance vehicle on Turo in the first place. At this point it's not worth it. What is your take on this? Also are you in any way affiliated with Turo or sponsored by them at all? I have enjoyed watching your videos but on this particular issue I do not think my experience has been any way shape or form similar to yours. If you have any tips they would be greatly appreciated. I am one step away for calling the company lawyer and asking him to call Turo on my behalf and take them to small claims court. Thoughts?
@@saimahsexperience Hi Saimah, I like your videos. I have five cars on Turo now. Luckily, I have not yet had any claims in the two months I've been doing this. The whole insurance issue is very confusing and, as others note, seemingly unfair, considering that potentially both parties are paying into it but HOSTs are not necessarily receiving proper compensation. I'm oscillating right now between the 75% and 85% plan.....75% definitely is the safe play, but under certain circumstances 85% could work. My big question--and I've reached out to Turo about this--is to what extent is the GUEST responsible for damage they cause? And to what extent can I as a HOST demand compensation? In no way does opting for insurance waive the GUEST's responsibility, right? If they have insurance, whether personal or thru Turo, their insurance should pay the bill. If they don't have insurance and decline Turo's, then they must personally pay the bill. And regardless of whether I choose the Basic, Standard or Premium coverage, as a HOST I should be able to try to collect the full amount from the GUEST. Is this correct? Turo recommends we try to work things out with guests. If I have the Basic 85% plan, it is definitely in my interests to do so. I can see the advantage of the 75% plan, where a HOST can just ask Turo/Liberty Mutual to step in and (hopefully) get everything paid for. The 85% plan makes the HOST work a little more. But based on comments, it sounds like no matter what the plan, there are cases where HOSTs are NOT made whole. Should I seek to not involve Turo/LM and the GUEST is not cooperating, to what extent can I go after the individual and their personal insurance company? If my rights are limited here, then the 85% plan does seem quite risky. I am really trying to convince myself that, contrary to what others are saying, the GUEST really does have a responsibility to pay. And hopefully, a HOST's rights to enforce that are not unreasonably limited.
Thanks for your videos, and have one question for u, can I rent a salvage car on turo? Or a Flood car ?
Nope!
How do you handle taking the drop-off/pick-up pictures when people are doing early morning or late night rental start/end times? I imagine grabbing someone from the airport and trying to do a walkaround in the dark and grab pics is problematic?
Very informative video. Thanks,
I have a question.
Let's say I don't enroll Turo insurance at all. When my renter got into an accident, isn't the renter supposed to be responsible for that accident? Why would I buy insurance from Turo as a owner? I was a renter before and I clearly remember that Turo gave me different insurance options to choose from. Why do both renter and owner need to buy insurance from Turo?
Exactly what I've been wondering, try calling their claims department don't call turo customer care. If you call turo customer care ask for the claims department phone number
Well, turo told me if the renter declines insurance and crashes the car, they are liable for it. But how can they be? I have to wait for them to pay me? Then why am I paying standard insurance for a car I'm not driving as a host? Why cant the insurance I paid for (standard 25%)help out and pay for my car while turo waits for the renter to pay them.
Wait so this actually happened? I was wondering why both renter and owner need to pay for insurance since when the accidents happen it will be the renter's responsibility to pay for it. Right? Did Turo actually ask you to wait for the renter to pay you? If so I'm not getting any insurance from Turo as a owner.
@@od2437 I was just saying as if it did happen like that. I haven't had to make a claim yet but I am concerned about Turo going after a renter who refuses to pay, especially if they deny car insurance through the app.
@@gsalazar8176 Got you. I asked Turo about this in a ticket on their customer support page. I'll see what they say. "I asked Turo if I opt out Turo insurance as an owner and the renter gets into an accident with my car, who is responsible.
I actually didn’t know that I had owner insurance until today, I thought the 35 percent turo took was just their share of the income as like platform fee. I was browsing the turo app and saw the protection section then realized I was automatically opted in premium plan. I was wondering why turo took such a big percentage of the earning.
@@od2437 So did you ever hear back from Turo about this?
Can anybody help me with downloading link of the Insurance Card from the Turo website. Thanks in advance
What a flex
So Turo can make money selling insurance to host and renters. Wow they makes all the profit and you host really works their butt off. My question is there profit in the long run?
very little. not worth renting your high-end cars. Guests returned your car with dings and scratches. Turo will not pay it, it is considered wear and tear.
How can I register a car (get a license plate) with Turo inssurance?
Hi Saimahs, I want to rent a card on Turo but as far as I can see, I can t message the host before I request for the rental and give my card details. I want to rent a Dodge Charger Hellcat and the owner said in his description that he will provide the Red Key that unleashes the 707 at extra price. I need to get in touch with him to ask about the price for the red key because that will help me decide if I will or not book his car. Do you have any idea how can I message him or any other host without actually paying for the rental? Thanks in advance!
Rent a car*
how much do you list your corvette for?
Thanks for posting , interesting about how it works with insurance. I believe in one of your videos you mentioned you were going to do a video of how you are able to purchase multiple cars. Is there a limit to how many car loans one is able to get? Do you have to put them in the name of other people such as a business partner etc? Or do you get the loans in the name of a company or LLC instead of your personal name? I would think having a lot of loans could also affect DTI (Debt to income ratio) if one is applying for a home loan for example? Or are you able to get the banks to view Turo income as actual income. I've heard of people having issues being self employed versus W2. Thanks!
Thanks for your reply!
Saimahs Experience what kind company to you have? Are you gona post a video how to buy a nice car lol?
Heart broken she only owns half the Co ...... lol
So I just rented my car for the first time. And the customer called me saying they broke the windshield what do you suggest I do?
Saimahs Experience thank you so much.
Do you think I should make a claim even though they will still have the car for 2 more days? Or should I ask the guest to resolve it without using insurance? I am at this point in my claim on the app.
@@saimahsexperience Thanks so much I have been watching your videos your awesome. Keep up the good work.
I can’t find a phone number anywhere I am still trying to file the claim.
Saimahs Experience your the best thanks
what type of personal insurance do you put on your cars when they are not being rented?
🤤
I have the same question. And do you tell insurance companies about your venture
You better tell your insurance company what you’re doing and pay for that added rider because if there’s a crash you’re f##cked. They’re gonna back away from you like you have the plague and legally they can do so. The regular insurance policy is for the times the car isn’t rented and you’re driving it for example and by law you should have anyway. Don’t be cheap and not tell your insurance that you’re doing peer to peer or youre doing Uber or lyft or hyercar
Wait so the person renting isn’t liable for any damage?
Wow, no answers here.
Your videos have been very helpful! I watched most of it. I've been searching for Cpo ModelS to rent. Or is it better to lease with new and current technology on the ModelS? Thanks!
That's good hear! I'm in the process of getting a cpo model s. Wish me luck!
How does renting out a Manual Transmission car work on Turo? How do you know the person renting your car knows what they are doing and won't grind your gears to dust?
MavericSun the same can be said about auto transmissions lol you can do dumbass shit like floor it in park and put it in drive lol
Surge Shamray yes, you can also wrap a either car around a pole, but most people aleast understand automatic. Not a lot of people know how to manually shift gears anymore or use a clutch with riding it. Kind of sad really.
MavericSun if they crash your car then insurance would cover it...now if they burn up your tranny I’m 99.99 sure you’re SOL...how else do you prove your tranny didn’t just go out as they randomly do this all the time.
You would probably end up having to sue the renter and bring a transmission expert to try to convince the judge it got abused recently...HUGE pain in the ass
@@DigitalRecollections Wouldn't this be covered under wear and tear that the girl was talking about?
Nice Tesla Model X
I'm in love
I dont understand one thing that why Turo has to get their share of 25% on extra miles that renter driven.....I mean it's our car who had been driven more miles than allowed...
I'm 700th like I feel lucky.
Saimah... Question regarding your Tesla's on Turo and the Warranty. I wish I could have sent this in a private message, but non-the-less... Have you experienced warranty issues with your Tesla and having it on Turo? This message will self destruct after our conversation. LoL!
Saimahs Experience ok... I'm at a crossroad on having the seller get the extended warranty (at my expense) when it's been said that Tesla won't honor warranty repairs for vehicles used for commercial use.
Saimahs Experience Cool! Thank you so much.... What's your Twitter and IG?
Saimahs Experience got ya!
This is an add for turo. She’s a paid agent
I think the Turo owner protection plan is kinda a scam in a way so I contacted the Turo support with my questions. I'd like to share with you our conversation and I'm curious to hear what you all think of this.
Below is our conversation:
*Me*
Hi
I have a question about the owner protection plans.
I wonder what happens when my renter get into an accident with my car and I only have the basic protection plan, which says will cover the cost beyond 3000 dollars.
Let's say the cost for repair is 2000 dollars, am I supposed to pay that 2000 myself?
Thank you
*Turo*
We deal with the guest and host protection plans separately. As long as you select a protection plan for yourself and are in line with our terms of service, we are going to pay out for damages according to that. What we charge the guest for damages is separate.
*Me*
Thanks for the explanation. But there are still something I don’t understand.
As you said you deal with the host and guest separately.
So when the renter gets into an accident with Basic renter package which should only cover the cost beyond 3000 dollars, and let’s say the actual repair cost of my car is 2000 dollars.
In this case the renter will pay Turo 2000 dollars, but since I only have Basic plan as an owner, I still need to pay for the repair myself since the Basic owner protection plan doesn’t kick in until 3000 dollars.
Is this correct?
If so how is it fair for both the renter and the owner to pay for the cost.
*Turo*
We would pay you out according to the plan you chose. So if you chose basic and the damages were $2000, we would pay you 20% no matter what protection plan the guest chose. With the basic protection plan for a host Turo pays 20% up to first $3,750 of damage and 100% after that, up to a $125,000 limit.
*Me*
Thanks for responding.
So I pay 80% of the cost and Turo pays 20% I understand that.
But the renter also pays the full cost right?
So Turo makes money out of my accident? Because the total payment from both me and the renter is double the actual cost for the repair.
How do you explain that?
*Turo*
In that case we would, but there are also other fees associated with the claim that we have to pay out since we are not an insurance company.
Saimahs Experience thank you so much I’ll reply with that question since it’s from email.
@@saimahsexperience Ok so she answered "That article is pertaining to our liability insurance coverage which is provided through Liberty Mutual. Turo is a peer to peer ride sharing company not an insurance company." I'm feeling the whole time she isn't really answering my questions, she was trying to find a way not to answer my question and also making me not wanting to ask further. Just my feeling.
Saimahs Experience Yeah I think they are just trying to keep it really vague and people won’t be able to find much information about it. Because this is what matters when you rent your car on turo, they only use “1 million” insurance coverage to attract people and then leaves car owners vulnerable. I do think one day when Turo gets more recognized it would force them to make things more clear. As of right now they are just taking as much advantage of it as they can. You can feel they are trying to not let you know something when you talk to them. I have talked to them twice both the same feeling.
@@saimahsexperience Yeah so glad I'm not alone. Hopefully that day will come soon.
Thanks for explaining this...I'm surprised at how transparent they were though lol. I guess the standard plan is the way to go then. That way, you avoids any trouble.In my opinion, let them make money however they want as long as we make money, right?
May I ask which insurance option have you chosen from. Turo? Thank you for the recommendation Miss
She said that she uses the standard.
I can see a lot of questions from viewers without any replies from Saimahs. She basically tells her viewer what's already in Turo's website about insurance so she can show what type of cars she has available. What I am trying to explain here is that Saimahs reads Turo's insurance coverage to her viewers and at the same time she is showing her rental cars availability.
What I could never understand is why BOTH the owner and the renter have to pay insurance for the car?
Austin Cantu I guess if you don't opt out of turo insurance, and you intend to drive it personally at all, even in transport, you need coverage for yourself.
I wondered that too. I emailed Turo and they said that the host insurance covers the vehicle and the renters insurance covers the passengers. Bull if you ask me
Makes sense to me. Renter insurance protects them if something happens. Host insurance protects host. I don't understand the problem.
Anita Break so if you waive insurance as a renter, get into an accident but no bodily injury occurs, you won’t be liable for any damage?
No. If there's an accident, host has deductible based on their tier selection and renter has deductible etc based on their selection.
Hi Saimah, may I ask, what are your origins? Btw. like the way crisp way you pronounce "3", like in Model 3 :-)
Your videos are amazing. I totally look up to you. I live in L.A. I'm a 32 yo single professional woman. Wanna grab lunch? Haha
Dam u fine
I want chicken biryani not turo.