However, in 2020 their net loss was $51.7 million and in 2021 a net loss of $107.8 million. You can decline Turos protection plans, but this is dangerous. GMI was the only one that would insure me, even though I had a larger fleet and 3 years experience. 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. Turo sends you email, SMS text, and push notifications each time a Turo guest decides to rent one of your vehicles. Should I use Turo to offset my car payments? Guest is super pissed off because they just paid $600 to fix a wheel I would have charged them $150 to fix. LEARN HOW TO BECOME A 6 FIGURE HOST ON TURO THROUGH MY EXCLUSIVE COURSE!https://www.powerhost.club/12+ hr Turo CoursePrivate Community AccessOne-on-One. You need to assess your level of risk if you want to require the renter to call Turo and change their Legal Name to "Michael" instead of "Mike." Turo Review: How Renting Out Our Cars Turned Into a Free Tesla How to Become a Commercial Host on Turo? : r/turo - reddit You'll discover help with deciding if becoming a commercial . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Browse the most lucrative promotions we offer. I currently have a small fleet of 7 cars all covered with Turo's Standard insurance plan. In this Turo review, I'm going to share how you can turn your unused vehicle into a regular source of income w In the UK, you can use a vehicle thats registered to you, your spouse, or a dealership. What happens next? I read on Turo that they will not be responsible for collecting reimbursement (i.e extra mileage, cleaning fees, etc) so how would that work? Which brings me to another point - the ONLY way to change their Legal Name is for the guest to call Turo to get it changed. Even in small insurance/protection claims, Turo will look for any reason to not pay out. Your car cant have a total loss claim in its history. In the United States, the cap is $200.000. Always think in terms of Customer Service and you won't go wrong. My car was damaged and Turo gave me an insultingly low repair estimate, there's no way I can get it fixed for that! If you decide to take the plan that lets you keep 90% of your earnings, you lose out on lots of insurance benefits. People renting my Teslas, Lotus, Mercedes, etc are usually, if not always, a better class of renter. For example, I have a used Mercedes that I bought for $12k - it was a good deal for a Mercedes. While the initial costs to rent are cheap, Turo charges a handful of fees to better protect the hosts property. If youre thinking of becoming a commercial host, there are some things you need to know. You cant list a vehicle with a total loss claim in its history. The vehicle must meet Turos insurance requirements. The only thing police are interested in is revenue generation, so the only work they are interested in is cases that bring them money. For road trips, errands, or day-to-day life, cars are essential. Most car loaning companies impose a limit of three, four, or five people, restricting your options. Baciles advises would-be Turo hosts to have "the right lifestyle, mentality, and attitude" and not to approach the business as simply a way to make money.