It’s been called the Airbnb of the automotive world, and in a way that’s exactly what Turo is. Just like Airbnb lets users rent out their homes to tourists in need at a rate that is usually more affordable than booking a hotel room or cottage, Turo let’s its users rent out their vehicles to others just like a rental company, but for less.
The idea behind Turo is simple. Travelers sign up on Turo’s website and can then search hundreds of vehicles offered in the location they plan on visiting. Prices vary, and so do the types of vehicles offered by local owners. Families in need of an SUV or a minivan will likely find the exact vehicle they need, as will young couples looking for a fun car, or business travelers who need a spacious full-size sedan.
Once users have found the vehicle they need, they are put into contact with the owner in order to schedule the pick-up location. Often, the owner will bring the vehicle to the person borrowing it, and the car can even be dropped off at the airport in many cases. The exact exchange location is, however, up to the owner and the borrower.
It’s really quite simple, and unlike Airbnb the rules and guidelines are clear, and both the owner and the client know the extent of their respective liabilities.
How does insurance work with Turo?
Regardless of whether you are the vehicle’s owner or the traveler who is borrowing it, you are always protected with Turo. Firstly, a 2M $ civil liability insurance is included automatically, and moreover vehicles that are lent out are covered for damages, thefts, and a host of other situations.
Users who are borrowing a vehicle in Alberta, Ontario, and Quebec do not need to have their own car insurance, but if they do their existing insurance plan will be supplemented with the additional coverage provided by Turo.
In other words, you are always protected when you opt for Turo, and you do not need to worry about the specifics of your auto insurance coverage. It is also possible to rent a vehicle through Turo even if you do not have insurance of your own. In that case, the owner provides their own insurance which is explained in detail to the traveler.
Turo is ultimately a different and more affordable way to rent a vehicle when you are on the road, and it is also a way for vehicle owners to make a little money from their current car. It works for both parties and that’s why the service has been so successful since its launch.