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R.E. However, your Farmers collision and comprehensive coverage limits may not be high enoughif you are renting a car with a much higher value than your personal vehicle and the car gets totaled. Insurance Also note that if you decline coverage, youll still receive the minimum amount of liability insurance required by the state from Turo. Insurance & protection at Turo Yes, as a host, you can decline Turos car insurance if you have. Turo Insurance: How Coverage Works for Renters and Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. However, the state-mandated minimum insurance that these cars carry might not be enough to protect you from the financial repercussions of an accident. In general, car insurance policies differ based on coverage type. You can talk to a Farmers customer service representative at 1 (888) 327-6335 to see if your personal policy will extend to your rental car. WalletHub Answers is a free service that helps consumers access financial information. Turo As with Lyft or Uber, youll be in another persons car, but instead of paying someone to take you where you want to go, youll be the one driving. Our insurance industry partnerships dont influence our content. Minimum $10/day. Kayda Norman is a NerdWallet authority on auto insurance. FAQ The Pros and Cons of Turo and Using It to Rent Out Cars Hosts can earn extra money each month by listing their vehicles on the platform. You have low odds of getting the insurance coverage you need from credit card coverage. If you are unsure if your car insurance will cover your Turo car, you should check with the insurance company. Erica Corbin joined NerdWallet in 2020 as an assistant assigning editor at large. In the United States, here are a few of the best Turo cities. On the 60 plan, for example, the 40% you dont earn from the trip price goes to Turo to cover: You have the option of going without Turo insurance when booking a car rental, or you can choose from three different plans offered by Turo: You should check with your personal insurance company to find out whether theyll protect you when driving a Turo car. Reviewed by Erica believes that money, like most topics, is best discussed with understanding, transparency and a healthy dose of humor. If you rent cars frequently, it might be more efficient to buy rental car liability insurance from another source. Drivers can save money on rental cars and have more flexibility regarding rental terms. Through Turos insurance partner, Liberty Mutual, youll have up to $750,000 in liability coverage (depends on the plan you choose). You also might want to know the pros and cons of listing your car on the platform to earn extra money each month. This is why many insurance policies do not cover Uber or Lyft. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Pre-qualified offers are not binding. For a guest, the trip price is the car's rate multiplied by the number of days you rent the vehicle. The Premier charges 100% of your trip price. Best Medical Professionals That Accept Medicare, How to Cash Out Whole Life Insurance Early, American Family Insurance Review & Rating, Northwestern Mutual Insurance Review & Rating, Principal Financial Insurance Review & Rating, UnitedHealthCare Insurance Review & Rating, what to know before becoming an Uber or Lyft driver.