Over the last year, car sharing has painted worldwide headlines by becoming more and more refined, and consequently, more and more ubiquitous. A pioneer of the peer-to-peer car sharing space, Turo too has grown by leaps and bounds. Everyday car owners have been empowered with a resource to not only recoup their investment dollars, but also to cultivate their own small business. And we’re honored and inspired to witness so many people with a strong entrepreneurial spirit flocking to our marketplace and listing multiple cars.
With that trend in mind, and in light of the insightful feedback you continually fuel us with, we recently renovated the owner dashboard to be more user-friendly and supportive, and also to help owners with multiple cars manage their listings more easily. The dashboard renovation quite simply makes managing a car on Turo simpler — from the everyday gal who rents out her car every so often to the entrepreneur building up a network of cars and repeat renters.
To further improve Turo for multi-car owners, we’re also adding more flexible insurance options. We launched three tiers of owner protection earlier this year to accommodate the various types of owners on the platform, whether you want more coverage for dings or would rather assume a little more risk to reap more reward.
And our latest product update offers a fourth option — to owners with their own commercial rental insurance.
By opening up the marketplace to independent, mom and pop-style businesses who can provide insurance directly to their guests, we’re broadening our marketplace selection. Providing your own rental insurance will appeal more to independent retail businesses looking to drum up more business, or to existing Turo entrepreneurs who are already managing dozens of cars on the platform and have purchased a commercial rental policy. These owners will keep 90% of each transaction, but will waive Turo protection packages, customer support, and roadside assistance.
Where car owners have more insurance options to choose from, travelers will enjoy more cars on the marketplace to choose from.
Our company vision is that wherever you are, you can rent the perfect vehicle for your next adventure from a trusted Turo host. This opening up of the marketplace to small fleet owners will both help breathe even more life into that vision by offering more cars in more places, and empower small business owners and burgeoning Turo entrepreneurs to grow and cultivate their businesses.