Our website is supported by our users. Turo uses this (and also local comps) when determining the ACV (Actual Cash Value) of your vehicle, should it get totaled or stolen. DO NOT take pictures of the dash when the car is only on ACC. Turo will only provide coverage based on what remains after that. Trip price. The Turo Profile Name is often drawn from Facebook or elsewhere and can be anything. According to Kayak, the average price for a rental car in the United States in 2023 is $63 per day. When you receive approval from Turo, you can make the proper edits on your existing fleet and add new vehicles as well. First, create an account on the Turo website and provide all of the required information listed above. They are not rushed to get to the car. Renting a car with Turo is effortless and quick. 5% of your earnings for collections, roadside, customer service ( such as it is), etc are a bargain. 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. Once you start doing this, your personal assets become business assets and are fair game if you get sued. Every rental on Turo is a private arrangement between the host and the guest. 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. Of course, I've been doing this a long time, so I know the ropes and they always end up in a much worse state than when they started. Youll want to factor in insurance, roadside assistance, and other costs associated with being a commercial host. They are definitely more profitable, but they come with headaches. If you get into an accident, Turo will not pay for everything. You may still have questions about listing your car on Turo. Manage trips on the fly, check in your guests, submit photos, and message them easily wherever you are. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Head to the top of the page and click on the "List your Car" button. 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. Even if you have ZERO knowledge that your title has been washed, you're still going to be hung out to dry. It means you need to pull a Carfax on your car before you list it to make sure there's nothing there that would disqualify your car, otherwise, you are just asking for trouble when it comes time to make a claim. However, your insurance is primary, meaning that damages are paid this way first. Next, decline protection when prompted about insurance. Pays for a vehicle when yours is in the shop. The guest MUST upload, at a bare minimum, two pictures: A selfie of themselves holding the same license. Everyone gets sued in a death/injury accident, including the owner of the vehicle. The downside is that you are putting your vehicle at risk in the hands of other drivers, and Turos insurance doesnt do much to pay you for damage guests cause. This way, you, as a vehicle owner, can enjoy the convenience of a vehicle without heavy rental fees. Ft. 72 Pine Cone Dr, Yarmouth, MA 02673. They are NOT VALID if they are uploaded prior to 24-hours and the renter will have to upload them again. Guests select which plan they preferwhen they book a trip. I'm sorry to say that there are no quick and easy answers. Income loss. You can either opt-in for Turo's coverage plans or, you can get a commercial rental insurance policy to become a commercial host. There's a thing called "washing" a title. : https://youtu.be/HkfEJOooqfI-----------------------------------------------------------------------------------General Links: Mic: https://amzn.to/2JiRklm Video Editing Software: https://amzn.to/33SaHv1 Computer: https://amzn.to/33Oncro My Turo Profile: https://turo.com/en-us/drivers/5770909 My Turo Listing: https://turo.com/us/en-us/car-rental/houston-tx/polaris/slingshot/613023#DebtToDollars #TuroBusiness #PassiveIncome After connecting your Stripe account to your Turo app, youre ready to start receiving payments from rentals. I manage cars myself, and I have cars managed for me. By doing your research, I mean you should see what cars have lots of rentals in your market. You don't care about that name. Be sure you have the pictures listed above taken within 24 hours of the rental. You can't meet every guest if you have 20 cars, it's just not possible. We sometimes earn affiliate links when you click through the affiliate links on our website. 70 plan. You can also add additional Turo insurance. I would love to hear from experienced Turo commercial hosts. You'll need to describe your vehicle and take high-quality photos showing its features. Provide your guests with the proper information about any accident and towing situations, so they dont become frustrated contacting Turo customer service. we've exceeded $1500 or so in insurance payouts for 1 month. The class of people that rent low-end cars typically don't have a job or have a low wage job (thus can't afford to fix your car if it gets broken), don't have insurance, have little to no respect for property, and are generally a pain to deal with. How To Become a Turo Host Listing a car on Turo requires you to provide a description and photos of your vehicle. It may seem excessive to take pictures of the undercarriage, but I have had several claims where the pictures have saved me. Turo will remove your vehicle from its app if it doesnt receive a new inspection report 12 months after your last vehicle inspection submission. This button displays the currently selected search type. The best defense you can ever have is photos uploaded by the guest themselves showing no damage in a particular area, then there is no question at all that the guest did the damage. Only use Turo as a last resort. Turo doesnt list specific car requirements in this case. Just wondering what your experience has been with GMI since you posted? 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. A one-time Setup Fee will be charged to the Host to cover the installation of the Getaround Connect at onboarding. Zip. While the universal requirements are the same in all three countries, some specific requirements apply only to certain countries. 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. He has been a rideshare driver since early 2012, having completed hundreds of trips for companies including Uber, Lyft, and Postmates. Turo sends you email, SMS text, and push notifications each time a Turo guest decides to rent one of your vehicles. We sometimes earn affiliate links when you click through the affiliate links on our website. In this case, you will need to email Turo written confirmation that your vehicle includes the proper tracking. There is NO CREDIT CARD that covers you as a renter on Turo. Please remember: Police don't want to work. 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). Turo offers many vehicles both above and below that average. With Turo, anyone in 56 countries can share their vehicles. To be a Commercial Host on Turo, your vehicle must meet certain requirements. (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. His insights are regularly quoted by publications such as Forbes, Vice, CNBC, and more. In at least 24 hours, you will be verified/approved. No it's not his real name. With cheap cars comes cheap renters. Turo places further requirements when listing a classic or Specialty vehicle. No one is going to protect YOU, except for YOU. The two types of hosts: * Peer-to-peer host: An individual offering a car for rental. Remember that the fee is 80% outside of the United States. What Turo wants and what you should do are two different things. That means I'm not there to meet the guests. This amount is usually at least 2x if not 3x or 4x what they paid me. These pictures SHOULD NEVER be uploaded before the 24-hour mark. Its fair market value can go up to 100,000. EXTRA INCOME The average US host on Turo makes upwards of $1,000 per month, which can cover a car payment, pay for school, or finally get you behind the wheel of your dream car. You maintain the option of sending your Turo guests an invoice for the total amount of their rental through the companys website platform or via email. In addition, your chances of renting a more recent car for less are higher with Turo. While hosts heavily influence the rental prices of cars, this index is a satisfactory framework for estimating these costs. Over the course of the next 3 years, it's going to lose another 50% of its value, give or take. If they aren't a total sleaze bag, they will typically tell you. The Turo app will identify the commercial host as the insurance provider on all cars listed. SOLD MAY 24, 2022. For starters, Turo is a car sharing platform where individuals can list their cars for rent. Getting started Before you dig into your listing, get started with these simple steps. You will need to inform your insurance company that you list it on the Turo app. 3K views 2 years ago #PassiveIncome #DebtToDollars #TuroBusiness I show you step by step on how to become an All Star host on Turo. It's a real pain to get to the point that you can see this, but that's what you must do. If you miss an "i" dot or a "t" cross, Turo will say you aren't covered, even when it's just a few dollars. Ridester 2022 | ALL RIGHTS RESERVED. You will have to argue with them that they do exist and often have to link them to the specific pictures because they refuse to believe that you actually took pre-trip photos. The only way you can see the Legal Name is after you start a Trip Checkin (which is only available about 24 hours before a trip starts) - you Upload photos, then verify mileage and fuel level. Once you get your lowball estimate, you take your car to a bodyshop to be repaired. You'll land on the screen for Pickup and return hours. "You put your car available for rent. Everything else has to be done by you. With the right mindset and tools, Turo is certainly worth it. So once you pay them the amount Turo gave you and that you have for the estimate you brought it in for, if the bodyshop is unable to recover from Turo, it's ultimately their responsibility to handle. The short answer is, as a new business (You did form an LLC, right?) High-end vehicles and those that are only one or two years old can cost as much as $400 per day. I have talked to every major insurance carrier (State Farm, Farmers, Liberty Mutual, USAA, Gieco, etc..) and many smaller insurance firms. You'll discover help with deciding if becoming a commercial . My car was damaged and Turo gave me an insultingly low repair estimate, there's no way I can get it fixed for that! You don't need the rentals contracts if there renting from turo. In the United States, Canada, and the United Kingdom, all vehicles on Turomust meet the following requirements. At this time, you can also file a loss of use, based off the number of days it was out of service, as well as a diminished value claim. Better off taking 85% Basic plan because then you still get all of Turos help (for a 5% fee difference). As a host, Turo doesn't care about you in the slightest, no matter what platitudes they might speak. First, create an account on the Turo website and provide all of the required information listed above. If you market your vehicles well, you can earn tens of thousands per year. 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. If you have any questions about your Turo car, you can contact the host directly through the Turo platform. I don't think it's worth to decline insurance all together but def is worth it to switching to basic. That sounds like a lot. 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. How to Become a Commercial Host on Turo If you're ready to become a commercial host on Turo, follow these steps. Turo offers fewer fees than other car rental companies, as well. None. Turo is lying. Basic is 85% and if you decline, it's 90%. If you decide to take the plan that lets you keep 90% of your earnings, you lose out on lots of insurance benefits. When you book a vehicle from a host through Turo, you must use the vehicle only for your personal use. Turo is a car rental platform that connects car owners with people who need cars for short-term rentals. Turo will find out, in the event of a claim, and deny your coverage. If it's close, it's close enough. Mandatory insurance protects guests from having to pay fully out-of-pocket if accidents happen. It is the hosts responsibility to ensure that the vehicle is cleanand fueled up before guest trips. Like Airbnb and Uber, Turo works by pairing hosts with guests looking to rent cars. The best part-time money-making opportunities. While the initial costs to rent are cheap, Turo charges a handful of fees to better protect the hosts property. Building a strong foundation What can you do? In this Turo review, we will outline the criteria that every vehicle on Turo must meet in the United States, Canada, and the United Kingdom. Credit card rental car coverage DOES NOT COVER TURO under any circumstance. And always provide a clean, safe, and well-running vehicle! You just brought them a lot of work and they are going to do everything they can to avoid having to do work. Enter in the name of your insurance carrier along with the policy number. Turo can be a great opportunity for making money, but you should consider these points before you make a decision. I have been a Turo host for over three years (at the time of this writing) and have over 3000 rentals. First thing you need to do on your end is to file a police report with the municipality where your car was rented out. You can charge an additional security deposit or include extra eligibility requirements when approving drivers on the Turo app. You need to protect YOURSELF. As a traditional car rental company, you already have commercial auto insurance in place. In the UK, you can use a vehicle thats registered to you, your spouse, or a dealership. While it is a great source of extra money, there is a lot of fine print and insurance information to consider. Yes, your personal insurance will supplement the Turo plan you purchase. See also Nuf Insurance Phone Number What is commercial host on Turo? Commercial hosts provide collision and liability coverage directly to guests and may require you to sign extra paperwork. 15 months later, the car has paid for itself and generated about 50% profit on top of that. How to enter into the gig economy as a freelancer. If you are considering hosting through Turo then you need to determine the insurance policy that's right for you. Turo files claim with guests insurance for damage, loss of use, diminished value. However, new guests cant rent your vehicle until your car passes a new inspection. Listing a car on Turo requires you to provide a description and photos of your vehicle. If you have any questions or concerns about your Stripe account, you can contact Turos dedicated Stripe support team. Well, probably not a good market for a Sonata then. It is safest to have both kinds of protection before taking a trip to minimize your liability in an accident.