Insurance Basics: Personal Insurance
Earlier this year it was announced that Economical Insurance is providing Turo with commercial insurance in Ontario for the peer-to-peer car sharing giant. Previously, it was underwritten by intact insurance in Ontario, but Economical has recently taken over the Commercial Policy during the reservation periods and delivery periods of Turo.
What is Turo?
Turo is a peer-to-peer car rental service that gives car owners (Hosts) the ability to rent their cars out by listing them on the Turo website to pre-qualified Turo renters (Guests). It is no cost to join, and car Hosts can choose who rents their vehicle and when.
What is the benefit?
For car Hosts, an easy way to make a little extra cash by renting your car out to Guests when your vehicle is not in need. For car Guests, an affordable way rent a car for the hour, day, week etc. with a wide variety of vehicles to choose from in your area of need.
How is the car owner & renter protected?
Economical is providing Turo with commercial insurance that is covered during the delivery of the vehicle and during the reservation period. This includes $2 million Liability insurance, Standard Accident Benefits, collision & comprehensive.
Most insurance companies do not allow for your vehicles to be rented. It is important that you speak to your broker for more information to see if you qualify.
For more information on Turo, or how Economical is involved please visit the links provided below.
Jun 21, 2022 Turo Peer to Peer Car Sharing
Earlier this year it was announced that Economical Insurance is providing Turo with commercial insurance in Ontario for the peer-to-peer car sharing giant. Previously, it was underwritten by intact insurance in Ontario, but Economical has recently taken over the Commercial Policy during the reservation periods and delivery periods of Turo. What is Turo? Turo is a peer-to-peer car rental service that gives car owners (Hosts) the ability to rent their cars out by listing them on the Turo website to pre-qualified Turo renters (Guests). It is no cost to join, and car Hosts can choose who rents their vehicle and when. What is the benefit? For car Hosts, an easy way to make a little extra cash by renting your car out to Guests…Read More
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Jan 10, 2019 Does the Auto Insurance System in Ontario Need to Change?
This is the question currently being contemplated by the Ontario government. They are inviting drivers and consumers to share their views on how to lower the province’s auto insurance rates, part of a broader initiative on auto insurance reform. I do not intend to give a complete background on the issue or opinions on everything that needs to be fixed, or I would lose all readers by the 100th page! For a very brief background on the issue, visit “Ontario wants to hear from Consumers about How to Lower Auto Rates” and when done reading this document, visit Here to fill out the very brief survey and have your say. I would like to give you my opinion on a…Read More
May 21, 2017 Changes To Ontario’s Accident Benefits Coverage
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