How Much Money Does Auto Insurance Cost On Turo
How Much Money Does Auto Insurance Cost On Turo?
What is Turo?
Turo is an online car rental platform that allows people to rent their own cars to other people. It’s like Airbnb for cars, and people can rent a car for as little as an hour or for as long as a month, depending on their needs. It’s a great way to make extra money and to get access to a variety of vehicles at a fraction of the cost of traditional car rentals. But one of the most important questions for anyone considering Turo is, how much does auto insurance cost?
What Does Turo Insurance Cover?
Turo offers two types of insurance coverage: liability coverage and protection for the vehicle itself. Liability coverage is mandatory for all Turo rentals and covers up to $1 million in damage caused by the driver. This includes property damage, bodily injury, and legal costs. It also covers any damage to the rental car itself, up to the value of the car. The protection for the vehicle itself is optional, and it covers up to $75,000 in damage to the car while it is being rented.
How Much Does Turo Insurance Cost?
The cost of Turo insurance depends on the length of the rental and the type of vehicle being rented. Generally, the longer the rental period, the more expensive the insurance will be. For example, a one-day rental may cost $10-$20 for liability coverage and an additional $10-$15 for protection for the vehicle itself. For a month-long rental, the cost of insurance may range from $50-$100 for liability coverage, and an additional $50-$100 for the protection of the vehicle itself. The cost of insurance may also vary depending on the type of vehicle being rented, since some cars are more expensive to insure than others.
Who Pays for Turo Insurance?
The cost of insurance is always covered by the renter, not the owner. When someone books a car on Turo, they will be presented with the option to purchase insurance, and they will be responsible for paying the cost of the insurance. The owner of the car will not be responsible for any of the cost of the insurance.
What If I Don’t Purchase Insurance?
It is strongly recommended that all renters purchase insurance for their Turo rental. Without insurance, the renter will be responsible for any damage to the car, regardless of fault. This can be a major expense, and can even result in legal action against the renter. Therefore, it is highly recommended that all renters purchase insurance when booking a Turo rental.
Conclusion
Turo insurance is an important part of renting a car on the platform. It provides protection for both the renter and the vehicle, and it is an essential part of the rental process. The cost of Turo insurance depends on the length of the rental and the type of vehicle being rented, but it is always the responsibility of the renter to purchase the insurance. Without insurance, the renter may be responsible for any damage to the car, and this can be a major expense.
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