Metromile partners with Turo to help car-sharers manage insurance costs
Usage-based insurance provider Metromile is partnering with car-sharing marketplace Turo on a new insurance policy for peer-to-peer mobility.
Traditionally, Turo Hosts’ insurance was still active while renters used the service, even though Turo itself covered the rental driver. But now, Turo hosts that are Metromile customers will only cover insurance during the personal use of their vehicles, and will not be charged for coverage while their car is being rented.
Turo will match up users’ data from the Host calendar with data from Metromile’s Pulse device, comparing documented miles of personal and rented use, then price at Metromile’s pay-per-mile rate for the non-rental mileage.
The partnership will be available in eight states, first being Illinois, capturing more than 40 percent of Turo hosts.
Metromile and Turo share the similar goal of helping people maneuver through the new economics of owning a vehicle. Noting that cars are parked 95% of the time anyway, Max Bruner, VP of corporate development for Metromile says, “Turo and Metromile are committed to redefining the economics of car ownership. The Metromile and Turo communities share a mutual interest in greater flexibility and affordability in their mobility choices.”