The collaborative or sharing economy, where individuals exchange services directly, is becoming increasingly popular worldwide. So it’s no surprise that the Turo car-sharing platform is booming in Québec! Turo has been operating in Québec for three years now, and more and more vehicle owners are using it to make money by renting out their cars when they’re not using them.

If you’re thinking of doing the same, we’ll explain how to use the platform and what you need to know about insurance.

What is Turo?

Turo is like Airbnb for cars. Founded in San Francisco in 2009, the car-sharing service made its way up to Canada and Québec in 2016. Turo is a free and safe platform where you can list your car and rent it out to travellers by the day, week, or month. It’s a way to earn extra income. Given the high costs of owning a car, the prospect of having your car pay for itself is tempting!

The idea that spawned Turo is pretty simple: lots of cars are underused. Most of the time they’re not on the road—they’re sitting in parking lots. Owners get paid to rent out their car when they don’t need it, and renters get to choose from a wide range of cars that cost less than traditional rental services—it’s an all-around win!

How it works?

Let us reassure you right away—Turo is very reliable. The people who rent your car are approved by Turo when they sign up for the service. Turo collects their information and checks their driving records. It’s easy—just a few steps and you’re ready to go!

List Your Car

Just go to turo.com to register your vehicle and create a free listing in a few clicks. Upload photos, describe your car, set the rental price, and list the available dates. Be sure to keep the information up to date for travellers.

Receive Requests

When someone wants to rent your car, they’ll send you an approval request to book it. Once you receive a notification, you have eight hours to confirm or decline the request. Then you can contact the renter to coordinate when and where to meet to drop off the vehicle. You can offer delivery service or ask the traveller to pick up the car at your home.

Pick Up Your Car

When you meet the traveller again to pick up your car, ask them about their trip. Taking an interest will make them more likely to recommend you to other travellers! Just like with Airbnb, the platform displays ratings and reviews. Feedback is a very important part of the sharing experience because it builds trust between individuals who use the service.

Turo and insurance

So how does all this affect your insurance? Excellent question! Again, it’s simple. When you rent out your car, it’s covered by Turo’s commercial insurance policy, which includes liability, replacement cost for vehicles up to 4 years old, and basic accident benefits. Commercial use during drop off and rental periods is therefore covered by the policy.

For personal use, Turo has signed agreements with certain insurers that allow car-sharing, including Promutuel Insurance! To adapt to the new reality of the sharing economy and meet the needs of our insured members, we now insure people who use the Turo platform, without any additional premium. That means you can rest easy: when your vehicle isn’t rented out, you’re covered by your personal car insurance policy.

Finally, remember that you need to notify your car insurer that you’ve signed up with Turo so they can note it in your file. Ask one of our damage insurance representatives for more information. We’re here to protect your car and give you peace of mind!