The San Francisco-based company Turo, described as an AirBnB for Cars, has arrived in Canada. Like the home renting arrangement of AirBnB, Turo helps people rent their cars to strangers. This sounds like a great idea if you can’t afford a car or your lifestyle doesn’t warrant buying a vehicle.
If you would like to join Turo Canada, there is no membership fee but for now, Turo’s services are only available in Ontario, Quebec and Alberta.
Click here to find out more about Turo Canada.
What’s the insurance implications for this?
I had the same first thought as Jason. Before letting anyone else use your car, please contact your insurance company.
A few years ago, we exchanged our home and car with a family from Spain for 3 weeks. Before we allowed them to use the car, we found out from our insurer that if the Spanish drivers had an accident, we would be responsible for any loss/damage/death. Our insurer explained that in the case of an accident, they would try to seek damages from the Spanish family’s insurance but it would most likely be unsuccessful. We doubled our insurance and took the risk. Fortunately, everything was fine.
Just be careful – lending or hiring out your car could bankrupt you.
this was feature on my radio station last week. the company insures you for 2 million sign me up!!!