Car rental company Turo announces today its launch into Canada, marking its first expansion outside of the US.
Turo is the first peer-to-peer car rental company in Canada, which empowers Canadians to turn their idle cars into earning engines and inject more personality and value into the car rental experience. Putting Canada’s 23 million vehicles to better use, Turo allows car owners to offset the cost of car ownership by renting their idle vehicles to pre-approved travellers, while helping travellers find the perfect vehicle for their next adventure.
Cars rented on Turo typically cost 30 per cent less than traditional car rentals. Members of the Turo community pay no membership fees, and each trip is backed by Turo’s leading trust and safety protections, including $2 million in auto liability insurance and 24-hour roadside assistance.
Turo operates in Alberta, Ontario and Quebec and will expand its marketplace nationally. At launch, Intact Insurance and belairdirect personal lines automobile policyholders will be eligible to list their cars on this new peer-to-peer car rental marketplace.
The company is working to prompt other Canadian insurers to allow their policyholders to enjoy the benefits of renting out their cars on the marketplace as well.
Turo, founded in 2009 and headquartered in San Francisco, has grown to operate in over 2,500 cities and 300 airports in North America and has safely facilitated over 1 million rental days to date. The average active US member makes USD $600 per month renting out a car in the marketplace.
[via TheRecord]
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Sorry but this is something I would never consider.
Be interesting to see how much your car insurance costs go up by participating. ICBC bases the insurance premium on how many people are driving the car and years experience for the driver.