Insurance Basics: Personal Insurance

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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.

Important note

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.

Brian Cummings

Account Executive

brianc@rhodeswilliams.com

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