Just figure out what you make total to turo (the grand total) and then when you have your grand total crunch both the 85% and 70% numbers, and at some point the 85% will be much more appealing. You are not trained or prepared to verify licenses properly, generally speaking, and the fact that Turo "requires" you to do it is preposterous, but it is what it is. When you pay with a credit card, you are usually covered by the policy that is included by the network that your card is affiliated with. So ask yourself, is it wise for me to willingly pay X amount? If guests cannot show up at the appointed time, they receive a partial refund that scales based on the length of the booking period. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Browse and compare company gigs from the best companies all in one place. There are many commercial hosts with their own commercial insurance who still use Turos basic (85%) plan because of the extra benefits. You cant list a vehicle on Turo in Canada with dealer plates. All vehicles in your fleet need to meet requirements for eligibility, as well as safety and cleanliness standards. Maybe a mod could sticky it. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Browse the most lucrative promotions we offer. It's best to make sure your lights are on, so both you and Turo knows both headlights worked at the time of delivery. There are none. When you receive approval from Turo, you can make the proper edits on your existing fleet and add new vehicles as well. After you do that, you are allowed to peek at the Legal Name field. WHAT?! Here are three of the most common questions regarding the car-sharing platform. Also, anyone who has experience with Rent Centric Car Rental Software is greatly appreciated. Turo wants to see that youve satisfied all the local auto insurance requirements for your state, province, or UK location. Once you have an account, you will list your car. Pictures of the undercarriage are so rare, even the claims representatives have trouble understanding that you did, in fact, take pictures of that area and that there is clearly no damage present on the pre-trip photos that exists on the post-trip photos. Even if you have ZERO knowledge that your title has been washed, you're still going to be hung out to dry. (Quick side note: Be aware that if you have a leased vehicle or there is someone other than YOU on the title, you will not get a check. There are several conditional fees, such as the young driver fee, delivery costs, and a security deposit (if you book a Deluxe or Super Deluxe vehicle). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Browse the most lucrative promotions we offer. Our website is supported by our users. Everything else has to be done by you. Make sure it says drivers license and not ID. Dairy farmers in Cornwall and Somerset invited to get 'Robot Ready' Turo Car Rental Review: Everything You Need to Know - Travel According to Kayak, the average price for a rental car in the United States in 2023 is $63 per day. But technically, if the name doesn't match exactly, and Turo wants to be pedantic, which they often do, they can deny your claim. The gig economy is booming, and thanks to COVID-19, more people than ever are getting involved. They should know that contacting Turo isnt going to help them. The purpose of Turocar requirements is to make sure that all vehicles on the platform are safe and in good condition. Your car MUST have less than 130,000 miles before it's first trip. Date September 14, 2021 One of the most frequently repeated bits of travel advice is to avoid being coerced into paying extra for additional rental car insurance. Ridester 2022 | ALL RIGHTS RESERVED. It may seem excessive to take pictures of the undercarriage, but I have had several claims where the pictures have saved me. It's like $200/yr and you get 1 tow up to 200 miles (worth the price right there) and a bunch of other 100 mile tows (also worth the price) + all the other services and discounts AAA offers. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Individuals using personal insurance cant become commercial hosts because they need to use the car insurance optionsoffered by Turo. Ridester 2022 | ALL RIGHTS RESERVED. What does that mean? Youll want to factor in insurance, roadside assistance, and other costs associated with being a commercial host. After connecting your Stripe account to your Turo app, youre ready to start receiving payments from rentals. Make sure that you tell your guests what to do if an accident occurs. When it comes to Turo's insurance, owners can either use Turo's policies or decline coverage to be eligible for a commercial, third-party insurance policy. You cant list a vehicle older than 12 years. Next, decline protection when prompted about insurance. However, new guests cant rent your vehicle until your car passes a new inspection. To be a Commercial Host on Turo, your vehicle must meet certain requirements. You will never be able to keep up with depreciation renting through Turo, and you will end up upside down should any major damage or theft occur. People renting my Teslas, Lotus, Mercedes, etc are usually, if not always, a better class of renter. Another benefit of becoming a Turo commercial host is that all of your rentals get managed easily from within the Turo mobile app. At some point (for us it was around 25 cars I think) you go, "hmmminstead of making $13,000 per month on the 70% plan we would have been at $16,000 per month on the 85% planthat's a whole $750 extra per week or $3000 per month that we are paying for insurance". DO NOT take pictures of the dash when the car is only on ACC. Check out my site https://www.powerhost.club/LEARN HOW TO BECOME A 6 FIGURE HOST ON TURO THROUGH MY EXCLUSIVE COMMUNITYhttps://www.powerhost.club/12+ hr Tu. At that point, they will start the process of getting you paid for your vehicle. The best part-time money-making opportunities. Turo is relatively safe, though it does have certain risks. I wish I had a better answer for this, but the fact is, the insurance situation alone should scare the hell out of you. When you go to submit a damage claim, they will tell you it's not eligible and you're left to hang in the wind. Turo provides a list of vehicles it wont allow on its platform. Turo provides five levels of insurance coverage to hosts, the people who own cars and allow others to rent them through the Turo platform: 60 plan. Open the Host dropdown menu and choose Settings. Turo uses this (and also local comps) when determining the ACV (Actual Cash Value) of your vehicle, should it get totaled or stolen. Turos formula gives renters more freedom since they contact the car owner directly. You get to set the pricing and availability of your rental car and select a protection plan. Turo places a market value cap on its vehicles. He is currently working on a book about working in the Gig Economy, expanding his skill set beyond the rideshare niche. A one-time Setup Fee will be charged to the Host to cover the installation of the Getaround Connect at onboarding. First thing, obviously, is to contact Turo Trust and Safety. As a commercial host, you can set up your customized daily pricing. Unless you are renting a brand new model or luxury car, you can expect to pay between $60 and $150 per day through Turo. Worst case scenario is you are out $3000 - that means after 66 rental days @ $150/day, you will have recovered your maximum deductible on an accident that you are unable to recover any funds from. To be a Commercial Host on Turo, your vehicle must meet certain requirements. "Although it's a lucrative business idea, it's also not for everyone," he says. Instead, you must use your own commercial rental car insurance policy. You have the option to accept or decline all requests. What car does well in one market does horribly in another market. What's this mean for you? It depends entirely on your market. The name you see on the Turo Profile is the "Turo Profile Name. They return the vehicle on the designated date. And, in the rare event that something does go wrong, our Claims team is ready to help. 3K views 2 years ago #PassiveIncome #DebtToDollars #TuroBusiness I show you step by step on how to become an All Star host on Turo. Guest The person renting a vehicle. The percentage paid out to you in the United States comes to 92.5% of each trips price. Compare Car Insurance Policies in Canada Take your time when writing the listings description. How To Become Turo Commercial Host & Earn A Lot Of Money I tell them it's like AirBNB for cars, that seems to work. Every rental on Turo is a private arrangement between the host and the guest. You do not need private insurance coverageto rent with Turo, but it is advisable. Yes, your personal insurance will supplement the Turo plan you purchase. Don't Become a Turo Host Until You Watch This | All-Star Host Guide They are NOT VALID if they are uploaded prior to 24-hours and the renter will have to upload them again. Building a strong foundation They have been creating, growing and selling businesses for the last decade side by side. With regards to name matches, I've never heard of Turo denying a claim if someone presents as "Mike Roberts" and their license says "Michael Roberts," but as shady as Turo is about denying claims, I would not put it past them. Alexandria Estrada - Turo Host - Turo | LinkedIn If youre outside the United States, then you can only list vehicles registered in the United Kingdom or one of these five Canadian provinces. The description should sell Turo guests on why they should select your vehicle over any other Turo vehicle listing. The first step is to find out what their policy is. "If you love cars and have a passion for meeting all sorts of individuals, this business is for you." COVERAGE The only time you should ever consider putting a new car on Turo is when you are using Turo to offset your payments and not as a profitable business. Hosts must have insurance on any vehicle they submit for rental. The vehicle cant have any major damage that would impact the safety of the vehicle or its passengers. The company has over 450,000 listings across the US and Canada, so it's available in most major cities, and I have found it to be more affordable than booking through companies like Hertz and Enterprise. However, Carsharing is different. That sounds like a lot. getaround.com Turo Review: What To Know About the Car-Sharing App Understanding Turos auto insurance policies is critical before taking a trip. Mandatory insurance protects guests from having to pay fully out-of-pocket if accidents happen. * Commercial host: A company offering a car for rental. *Your insurance WILL NOT COVER YOU. Remember that requirements may vary depending on your location and the type of vehicles youre renting out. If a major accident occurs, or even minor damage, you are going to go to the renter first, and then the renters insurance second for recovery. You'll need to describe your vehicle and take high-quality photos showing its features. You will be immediately upside down in your car. With Turo, you can have up to eight driversfor your rental. Since I have a commercial policy, I can also rent directly to renters without going through Turo and when I do that, I absolutely require them to have personal auto coverage from a major carrier, as well as a credit card (not a debit card), that I keep on file. Rather than rent a car from a large multinational corporation, you're renting a local car from a local owner. Transfer money from your business to your personal and from your personal to your business accounts if you need to, but never pay/get paid to a business account for personal items/services/etc and vice versa. Make sure to follow these rules for an activated tracker. 80 plan. You cant list a vehicle with a total loss claim in its history. So they give you a small amount. For cheaper cars, with an inexpensive daily rate, it may be better to go with the Standard plan if you don't want to risk it. In the United States, Canada, and the United Kingdom, all vehicles on Turomust meet the following requirements. 2. I have searched for over a year and talked to many, many different providers trying to find commercial insurance for my 25+ car fleet. Police Departments don't understand Turo, just be prepared to try to explain it to them. Your business accounts should ONLY deal with your business income and expenditure. Instead, Turo will automatically apply your commercial liability coverage or rental insurance to all vehicles in your fleet. How To Become a Turo Host Listing a car on Turo requires you to provide a description and photos of your vehicle. If you need to decline a request for any reason, you can still contact guests and ask them if theyd like to rent a different vehicle with you. But they will save your bacon. I tell them to contact their insurance agent and file a claim. I currently have a small fleet of 7 cars all covered with Turo's Standard insurance plan. However, I'm not sure what else will change if I'm a commercial host. If you don't know what MMR is, it is the Manheim Market Report - the de facto standard in used vehicle valuation, typically used at auction houses. Select the insurance plan and listing price per day that you prefer. So, I try to explain that to them and that if they work with me, they will be paying MUCH less. Press J to jump to the feed. The two types of hosts: * Peer-to-peer host: An individual offering a car for rental. What Is A Turo Host? - Tourismguide.info I'm sorry to say that there are no quick and easy answers. This puts you in a really tough situation and there's no good way around it. So it doesn't make a lot of sense to pay Turo 30% of your income, which can be quite substantial on a $150/day car ($45! It is the primary factor used when someone decides what your car is worth. The simple answer is: It depends. It's a real pain to get to the point that you can see this, but that's what you must do. This is really the only way you can scale a Turo business with more than a small handful of cars. SOLD MAY 9, 2022. This seems counterintuitive, but consider what I've said above about the renters insurance. Commercial hosts are typically rental car companies. Only do this if you are confident that your insurance will cover accidents well. Slightly over that imo it is better to be on basicbut everyone looks at things from different perspectives. Information for freelance consultants and gig workers. This is the name that MUST MATCH the name on the license. Yes, it makes less per month, but not a lot less, and it cost less, parts are less, and it rents out daily for less - so it rents out more often. A Toyota Tacoma, for example, rents out quite often in DEN.