Turo, the peer-to-peer car rental platform, has become a popular alternative to traditional car rental companies. With Turo, car owners can earn money by renting out their vehicles to others. However, as with any car rental, there is always the risk of accidents and damage. That’s where Turo’s insurance policies come in.
Understanding Turo’s Insurance Policies
Turo offers three levels of insurance coverage for its users: basic, standard, and premium. The level of coverage is determined based on the owner’s preference and the renter’s needs.
Basic Coverage
The basic coverage is included in every Turo rental and provides liability coverage up to the state minimums. Liability coverage pays for damages to other people and their property if you’re at fault in an accident while driving a Turo vehicle. This means that if you cause an accident that results in injuries or damages to someone else’s property, Turo’s basic insurance policy will cover those costs up to the limits of the policy.
Standard Coverage
If you want more coverage than what is provided by the basic policy, you can purchase Turo’s standard coverage. This coverage includes liability protection up to $1 million, collision coverage, and comprehensive coverage. Collision coverage pays for damages to your rented vehicle if you are involved in an accident, even if you are at fault. Comprehensive coverage pays for damages to the rental car caused by events such as theft, vandalism, and natural disasters.
Premium Coverage
For renters who want the highest level of protection, Turo offers premium coverage. This coverage includes all the benefits of the standard policy, plus additional coverage for lost rental income and extra expenses incurred due to an accident. Premium coverage also provides higher limits for liability and physical damage coverage.
How Turo’s Insurance Policies Compare to Traditional Car Rental Companies
Turo’s insurance policies differ from traditional car rental companies in several ways. First, Turo’s insurance policies are offered by third-party insurance companies, whereas traditional rental car companies typically offer their own insurance policies. Second, Turo’s insurance policies are more flexible than those of traditional rental companies, allowing renters to choose the level of coverage that best fits their needs.
Another key difference between Turo’s insurance policies and traditional rental car company policies is the cost. Turo’s insurance policies can be less expensive than those offered by traditional rental companies. However, this depends on the level of coverage chosen and the individual circumstances of the rental.
In addition to its insurance policies, Turo also offers a protection plan that covers certain costs not covered by insurance. The protection plan covers things like lost keys, flat tires, and windshield damage. This plan is optional and can be purchased by the renter at the time of booking.
What Happens in the Event of an Accident
If you’re involved in an accident while driving a Turo vehicle, there are several steps you need to take. First, make sure everyone involved in the accident is safe and call 911 if necessary. Next, contact Turo’s customer support team to report the incident. Turo will then guide you through the claims process and connect you with the appropriate insurance company.
If you are at fault for the accident, Turo’s insurance policy will cover damages to other people and their property up to the limits of the policy. If you purchased additional coverage, such as the standard or premium policies, damages to the rental car may also be covered.
If you are not at fault for the accident, Turo’s insurance policy will still provide liability coverage for damages to other people and their property. However, you may need to rely on the other driver’s insurance policy to cover damages to the rental car.
Conclusion
Turo’s insurance policies provide renters with flexibility and choice when it comes to coverage. Whether you opt for basic, standard, or premium coverage, you can rest assured that you are protected in the event of an accident. However, it’s important to read through the policies carefully and understand what is covered and what is not. If you’re unsure about anything, don’t hesitate to reach out to Turo’s customer support team for guidance.
