Product & Innovation
What insurance do you need to rent out your car as a business?
Answered independently in 1 episodes. Every line below is verbatim from the transcript, timestamped to the moment it was said.
The short answer
What the archive says
01Budget roughly $100-$110 per car per month for full coverage commercial insurance, or about $60-$70 for liability only. source →
02Expect about $1,000 a month in revenue per economy car, not the $3,000 claimed online; after co-host fees, insurance and maintenance, net is roughly $400-$500 per month plus the tax write-off. source →
03Use commercial off-trip rental insurance, not personal insurance. If your personal carrier finds out, they may keep collecting premiums and then deny the claim for breach of contract. source →
In their words
What was actually said
Realistically, somebody's going to total this thing in the first three years of it being on the platform, and then you're going to get your money back, and then you're going to rent some repeat as long as you bought it right by another car and to keep it cash flowing. And sometimes profit off the difference from what you bought it and what insurance pays you.
The episodes