Turo Insurance Explained. MUST-KNOW for Turo hosts!

In this video I discuss a VERY important yet confusing topic which is even unknown to some, namely, the topic of insurance for Turo hosts. If you have any questions, please leave a comment.

❗UPDATES
9/4/23 - There are a few states that prevent carriers from dropping Turo hosts. Please check your state's specific laws.

💯BECOME A CHANNEL MEMBER
Join this channel to get access to perks, templates, member-only chats/groups/calls, & more!:

☎️CONTACT ME

🌍LINKS

🧰MY TOOLS
Below are some AFFILIATE LINKS to tools that I use myself. I make a small, but VERY appreciated commission if you use these links.

🚗MY TURO TOOLS:

🎥MY YOUTUBE TOOLS:

🧰MY BUSINESS TOOLS:

👩‍💻ABOUT ME
I'm Yuly, a computer engineer who loves to create, automate, innovate, and improve, in tech, biz, and more! This channel's purpose is to share my passion and over 20 years' diverse experience, knowledge and education (as an engineer, Systems Admin, IT Support Tech, business consultant, paralegal, Law Firm Administrator, bookkeeper, etc.) to help entrepreneurs/business owners/professionals become more tech and business savvy, help them solve problems, help improve/automate their lives and/or businesses, etc.

🫶 HOW TO SUPPORT
If you've gained some value from this and would like to support the channel, Super Chats and Super Thanks are greatly appreciated!!! Please be sure to look out for the JOIN button soon, as I will be offering memberships that will provide for TONS of extra value and collaboration, such as group calls, members-only lives, templates, and more! Thank you so much for your support!!!

MY SOCIAL MEDIA

DISCLAIMERS

This channel does not provide financial or legal advice and is for entertainment purposes only. All opinions are my own, and any sponsors are disclosed.

#turobiz #passiveincome #earnmoney #entrepreneur #extraincome #Turo #turo #turoinsurance #carrental #entrepreneur #business #earnmoney

[dedalliance]

So you basically have to pay 3 insurance companies?

So, first being Turo you pay them part of your profits for their insurance, then you have to pay an insurance company that provides insurance for car rentals but doesn't cover you if you're driving the car personally, so then you need personal insurance for the car if you ever want to drive it personally. Seems really stupid to me.

[JBRion]

Farmers just told me they can insure the car when it’s not being rented, they are quoting me. Their quote for my family cars was more than double what I pay currently with Progressive though so not expecting anything good.

I tried Lula and they thanked me for joining their waiting list.

Thanks for the links to ABI and GMI. Going to try them next.

[blakeaaron]

Thank you for the clear and comprehensive rundown on the subject.

[McCainsforChrist]

Clarification I just spoke to my insurance progressive does cover you in the state of md when you are driving your car personally if you have it in Turo. It is state specific and you are mostly correct that other states do not

[anthonyamato]

Wouldn’t it be better for insurance companies to have clients who have cars on Turo? Because then it’s less chance of you crashing it since your never driving it. And Turo will cover it with there plan. Like my car is rented 23 days out of the month. So for those 7 days I bearly drive it, why wouldnt they insure me, I bearly drive it

[leekcoy]

Straight to the point and clear. With helpful recommendations thank you

[ulvocpu]

Great info, trying to figure out the exact same problem. Thank you so much! 🙏

[rafaeltorres]

This has to be one of the most informative video on Turo about insurance I've seen yet!

Absolutely appreciate the in's and out's and even putting up additional information on the insurances. Right on! 🎉

[SopaulC]

Trying to start of here and Thank you 🙏🏽 so much u just answered my question.

[emmamartinez]

Hi, my brother keep asking me about this Turo thing, I show him your videos, I hope he finds the answer 🙏🏻

[reyannnassar]

Hello, Lulu now has a waitlist and im in michigan. So ABI and GMI dont cover here. Im wondering what are the other affordable options.

[thisandthatfloridausa]

Good Informative video. Thank you. God bless you.✌️❤️🙂

[DealCircles]

Thank you so much, this is very helpful video.

[durtydeedsREI]

Why does it say this on Progressives site:

Does car insurance cover peer-to-peer rentals?
No, your personal car insurance policy typically won't cover your car while it's being rented out via a car-sharing service. In some states, your insurer may even deny you coverage if you rent out your car. If you're thinking about renting out your car on a peer-to-peer rental network like Turo, you'll likely need to get the insurance offered by the rental service. Don't cancel your personal auto policy, though — peer-to-peer rental services typically require you to have your own car insurance, as well.

They don't outright say they don't insure to people who use car sharing. It almost seems to suggest that they do but want you to know to get the car sharing insurance too.

[LeighCrutch]

Great video. Thank you for the information. ❤

[MontyElav]

Hey thank you touching this subject, a guest had a small accident on my car and a claim was filed with turo.
Progressive found that a claim was made with my car vin and then reached out to me.
They tried to trick me into admitting that the car was being rented out, nope.
They didn’t cancel me but i am thinking of making the switch due to being on their radar now.

[RealElonMusk-xj]

ABI and LULA are great for cars that you won’t ever really use for personal use, but not so great if you are just starting out and only have one car that you still want to use personally but just make a little extra money in the side for. Additionally both aren’t really all that great as they have fixed deductibles and coverage options. Lula 1000 deductible for acv under 45k, 3k for above. ABI is 2500k. And you can’t really use for personal use. Basically it’s cheap because you can’t use for personal, they don’t cover the vehicle while it’s rented and rely on Turo to protect you, and the chances of your car being damaged while parked at your home are slim to none.

[pxbwdmq]

Nice video. But if you have LULA but you can't use LULA while your car in on rental. It's just for OFF rental.
So my question is what insurance I can take to rent my car on turo ? I am bit confused please help me

[casabutterfly]

Lula is on a waitlist at this time. So I have to research the other options.

[jumnehbaby]

Thank you so much for this information