The only difference is you can now rent to an audience already established by Turo. He is currently working on a book about working in the Gig Economy, expanding his skill set beyond the rideshare niche. You do not need private insurance coverageto rent with Turo, but it is advisable. Turn off the setting for "I am always available" to display custom "From" and "To" entry fields for each day of the week. Now that you know a little more about the Turo car requirements, its time to list your vehicle and start making some extra cash. Turo is a revolutionary online platform where willing participants can rent their cars to others in a private arrangement. This is a common question I see all the time. The short answer is, as a new business (You did form an LLC, right?) For example, I have a used Mercedes that I bought for $12k - it was a good deal for a Mercedes. If you have an expensive car, such as a Tesla or other high-end vehicle, it can make more sense to go with the basic plan. Additionally, you need to maintain your vehicle at all times. A Turo host in the United Kingdom must be 18 or older. This does put all of my vehicles at risk if someone were to sue me and win - they could take all of my vehicles, but all my other assets would theoretically be safe(r). I will update this handbook as time goes on. USA, Turo Car Requirements for Commercial Hosts, make sure that all vehicles on the platform are safe, Include a valid registration in any state other than New York, Have an insurance policy in the owners name, Have less than 130,000 miles on the vehicle, A screenshot showing Turo a live tracking demo inside the OEM portal or app, Be in excellent physical and mechanical condition, Agree to additional review, if requested by Turo, Have a valid registration in any of the five provinces listed above, Include a valid insurance policy in the owners name, Have no interior or exterior branding messages, GEM vehicles not designed for freeway use, Vehicles that cant operate on public roads without a commercial license, Use an Apple ID, Google account, Facebook account, or email address to get started, Provide a cell phone where you can receive text messages, Check that your vehicle meets all the requirements listed above, Photos highlighting towing (Turo guests cant tow anything on a Turo trip), Advertisements or other markings that highlight other car sharing websites, Hateful, inappropriate symbolism that violates the Turo nondiscrimination policy. Your insurance, no matter what you are told by Turo, and even if your agent tells you that you are covered, YOU ARE NOT COVERED. For instance, youll get two weekly payments if your guest keeps the car for two weeks. You can select commercial from the list of vehicle types and see all hosts who have opted into providing their vehicles as commercial rentals. This is the name that MUST MATCH the name on the license. In this Turo review, I'm going to share how you can turn your unused vehicle into a regular source of income w Does My Personal Car Insurance Work With Turo? I tell them to contact their insurance agent and file a claim. 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). I provide superior service through my remote hand-off system, because I'm not waiting on a guest - they can be hours late picking up and I don't care and it doesn't inconvenience me this is a benefit to the guest because they don't have their rentals canceled or an angry host calling them asking where they are. Listing a vehicle is a straightforward process. Often times, renters will hit something, possibly they won't even know it, but having before and after pictures of the undercarriage will protect your suspension parts, wheels, as well as any ground effects you might have. Over the course of the next 3 years, it's going to lose another 50% of its value, give or take. They must also select one of many insurance plans for their car. You can also filter by location to find a host closest to you. In 2014 he acquired Ridester.com to share his experiences with other drivers. When you receive approval from Turo, you can make the proper edits on your existing fleet and add new vehicles as well. Those are great questions man, im following. If it does, you'll earn All-Star Host status for the next cycle. Turo offers many vehicles both above and below that average. All in all, its a high-risk-high-reward venture that capitalizes on convenience and customization. Basic is 85% and if you decline, it's 90%. You'll discover help with deciding if becoming a commercial . There are tons of tips and pointers of key information to ensure your new business venture is profitable. Getting started Before you dig into your listing, get started with these simple steps. 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". If you treat your Turo business like a business then getting to All-Start Host status is pretty easy. Gigworker.com is your one-stop-shop for the gig economy. However, if you take the 60% plan, you get the full extent of Turos coverage benefits. The guest MUST upload, at a bare minimum, two pictures: A selfie of themselves holding the same license. They will gladly take your money, but when it comes time for a damage claim, they will deny all coverage, including your $1 Million in liability. A Toyota Tacoma, for example, rents out quite often in DEN. A Toyota Tacoma, for example, rents out quite often in DEN. You may also have to conduct annual inspections at a mechanic. How to List Your Car on Turo as a Commercial Host, The car must be no more than 12 years old, The vehicle must maintain an available status on other rental platforms, You must have your own commercial rental insurance policy, Your vehicles must pass an inspection by Turo, A vehicle cant have a damage history that involves a total loss, Vehicles with over 130,000 are eligible if they meet all mechanical, safety, and legal standards, Name of your company and state of incorporation, Your business EIN or social security number, Proof of commercial rental insurance policy. The majority of my rentals are remote hand-offs. It may seem excessive to take pictures of the undercarriage, but I have had several claims where the pictures have saved me. I want a fancy car, but I don't want to pay for it. The first step is to find out what their policy is. I'm putting together a guide for new and experienced hosts alike. For questions or information about the third party liability insurance that is included in protection plans in the US, consumers in Maryland and the licensed states listed here may contact Turo Insurance Agency at (415) 508-0283 or claims@turo.agency. You need commercial insurance, but nobody is going to give it to you because you don't have any business history and your fleet isn't large enough even if you did. I wish I had a better answer for this, but the fact is, the insurance situation alone should scare the hell out of you. I show you step by step on how to become an All Star host on Turo. Information for the Care, Lifestyle, Tasks, Delivery, Lodging and Trasportation sectors. Like Airbnb and Uber, Turo works by pairing hosts with guests looking to rent cars. It rents out once a month at best in KC. The name you care about is the "Legal Name.". You are conducting a commercial transaction with your vehicle. 2. LEARN HOW TO BECOME A 6 FIGURE HOST ON TURO THROUGH MY EXCLUSIVE COURSE!https://www.powerhost.club/12+ hr Turo CoursePrivate Community AccessOne-on-One. 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. 130,000 Miles is the MAXIMUM amount of miles a car can have to be listed on for its first trip. The platform gives you a marketplace of over 10 million verified guests. For road trips, errands, or day-to-day life, cars are essential. [GMI Insurance] (http://www.gmi-insurance.com): David Bond 800-722-3229 Ext 272, [Sonoran Insurance] (http://sonorannational.com): Kathi Sinclair 480-538-7176. Ridester 2022 | ALL RIGHTS RESERVED. Once you get your lowball estimate, you take your car to a bodyshop to be repaired. How will guests able to select my commercial insurance as coverage? The purpose of Turocar requirements is to make sure that all vehicles on the platform are safe and in good condition. Information for freelance consultants and gig workers. Nobody can answer the question about which cars are good and which aren't and you'll have to do your research. If it's close, it's close enough. Automate your toll reimbursements with CarSync If getting everything reimbursed from your guests has become overwhelming, the solution is at hand. Probably a good way to go. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Browse the most lucrative promotions we offer. Don't believe anyone telling you differently. With Turo, you can have up to eight driversfor your rental. In this case, hosts must provide policy details and damage claim processes at the time you rent the car. How to set up and run your own business as an independent contractor. This large car-sharing marketplace has been operating since 2010, and it offers an array of cars that fit any group size or budget. Pays for a vehicle when yours is in the shop. SOLD MAY 24, 2022. With the right mindset and tools, Turo is certainly worth it. Having auto insurance will further supplement what the company provides, reducing the amount you pay out-of-pocket. This change, while only 5%, can make the decision even easier to go with the basic plan, instead of the standard plan. Get to work faster with jobs in the gig worker industry. Rather than rent a car from a large multinational corporation, you're renting a local car from a local owner. Just wondering what your experience has been with GMI since you posted? They will send you paperwork, including a power of attorney that you sign and send back to them with the title of your vehicle. Read more about Brett here. Turo offers insurance for both guests and hosts. If you market your vehicles well, you can earn tens of thousands per year. It has often been called the AirBNB of car rentals. Turo places restrictions on the photos you can use when creating your cars listing. Your car MUST have less than 130,000 miles before it's first trip. Milking 400 Holsteins through seven Lely Astronaut robots, the average yield. Turo has two distinct name fields on their back-end database. If you have a commercial host account, your vehicles arent protected under this policy. You can also set your own delivery fees or offer discounts to guests. The description should sell Turo guests on why they should select your vehicle over any other Turo vehicle listing. While Turo is a great means for hosts to make money, guests benefit more from Turos policies. Read more about Brett here. What Turo wants and what you should do are two different things. All major carriers that I have spoken to WILL cover you as a renter - meaning if you rent a car from someone else on Turo and wreck it, you are covered (but check with your insurance carrier just in case). They return the vehicle on the designated date. Hold up there, partner.