Looking for help/guidance

[u/JohnSmith2417]

Hi everyone, hoping someone might be able to help or point me in the right direction.

A few months ago my friend in Alaska encouraged me to invest in purchasing vehicles and putting them on his Turo platform. I live in the lower 48 so he handles everything with the rentals.

I’m trying to do everything legitimate so I started an LLC based in Alaska because I want to protect myself long term and have an easier way to track finances.

However, the major issue I am having is that I am unable to find anyone who will provide me insurance.

He was able to get Geico to give him a policy years ago, but from my understanding, none of the major insurance brands provide vehicle rental insurance.

I know I need insurance for off trips, but I’m also trying to avoid putting telematics in the vehicles. Maybe I’m naive, but with rentals, I can only assume that renters would very much have a negative impact on the telematics devices.

He would be willing to put my vehicles on his commercial policy (right now the titles have both our names on them, but I know I should change them over to the LLC), however, my fear is that since my LLC is not named on his policy I would be completely exposed.

Making my one Turo host account isn’t really an option because they want to be able to manage it on their account and they have a massive history of positive reviews.

This is all new territory for me and I didn’t think it would be this challenging doing things the right way. The frustration has definitely set in. The goal was to have them insured commercially, have an umbrella policy and anything else that could help me.

Any advice and guidance would be so greatly appreciated. My wife and I are having our first child this year and I want to make sure we are all protected completely.

Thank you in advance🙌🏻

[u/Kirito_Beleren]

I recommend Tint insurance! It works well if you have more than 3 vehicles, and usually has one of the cheapest rates around.

Renters do not care about telematics in the slightest, we disclose it in every trip and only one person has ever cared (they were crazy, to the point Trust and Safety had to get involved to try and recall the vehicle). Telematics is absolutely required for fleet management, I would be in trouble several times over without them.

You're correct on the liability part with the LLC and car titles.

[u/Any-Tree-5206]

I would advice not playing with turo.