How to Get Rental Car Insurance for your Business ( Giveaway Winner Announced )
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- Опубликовано: 9 фев 2025
- How to Get Rental Car Insurance for your business
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The video we’ve been waiting for! Finding jet ski rental insurance took forever. Finally found 1 company that covers my state.
Nice 👍
What state are you in and what's the company that covers your jet ski rentals?
@@juang6679 Arizona. It was a company called Xinsurance
Lucky, I have been watching your stuff now for a couple weeks. I've watched other videos, but I love the business acumen you have, the funny comments you make along the way, and the great info that comes with it.
I am a finance guy and real estate guy at my core. The automotive industry has always been an interest of mine. Well, I own a hotel and decided to add a rental car fleet. I know I got out ahead of myself a bit (By buying too many cars), but I'm in all of them right. I'm also setting up a small car dealership for ancillary income. Keep up the rad videos. I will probably be in touch about your course.
Thank you,
Tyson & JaCoy Holbrook
I will be using your program later. I'm going to go platform until I build a fleet. I'll be in Vegas and I use to live in Clark County. Thanks for the information.
First time listener. I have 18 rental cars in FL that I started in May of last year. I built up from 1 car. I do not like the service I get from my insurance company. My agent said that nobody will cover me since I am new in the business. I want to get more familiar with other insurance posibilities. Even if I could get self-insured. Thanks.
HEY WHAY INSURANCE DO YOU HAVE NOW CURRENTLY FOR YOUR FLEET. I have 18 cars aswell
@@baptismking7314 Following this question, have you found anything? I'm located down in Miami with a fleet of 20 cars.
Just the video I was looking for! Thank you
like your videos, I've done a little turo, and dealer agent. from dealer who has rentals also, he stopped buying full coverage for reason you stated, mainly
I've been waiting to. I'm still thinking about buying the course.
dont wait too long lol
I have a 1974 Impala SS convertible, I want to rent it out for non driving uses for photo shoots and events. What do I need to do? Also considering chauffeured uses ? What do I need to get this done
I'm paying cash for my cars. I'm trying to start out slow with just a few 6 to 10 year old cars in good condition. I live in a small town and there are no rental places for 60 miles or more. I also plan on getting a pickup or two with liftgates to rent by the hour or the day or even week. Am I doing the wrong thing thinking I can start this business with just few cars and keep it cash. I really don't want to try Turo, I just want to rent my own stuff on my own terms. I'm a professional mechanic with a great job. I already make 6 figures so this is a side line that I can afford to grow slowly. I'm thinking maybe I should do a consultation call.
Does supplemental insurance take the place of actual personal insurance if the customer doesn't have it?
So I just brought a car on personal side no insurance yet should I put it under a commercial insurance?
Great information. Quick question. I’m starting up a rental car business. I should have rental car insurance, along with a bond correct? I go through a 3rd party to insure the customer who don’t have their own insurance right?
Owning a car rental business can I also add a secondhand lease‘s to it, for Those people who wanna rent longer than 90 days. One more question. How do insurance feel about rebuilt title cars for rental
love this channel I'm a dealer and this channel has been a blessing!
Thank you I appreciate that what city and state is your dealership in
Also can I have my car registration in one state and my insurance an a different state
Hey so I’m starting an EV rental company in Socal with only teslas. Is Tesla plaid considered an exotic car? What kind of insurance company’s provide umbrellas insurance coverages ?? I’m in search of one right now.
So do I need rental car insurance and commercial ?
My question would be why wouldn’t the renters insurance cover damage to the car if you verified their insurance and coverages? When does commercial insurance step in? This isn’t explained in the video?
Actually, this is a very good tutorial on how to get rental car insurance for your business, but I was looking for info on credit card car rental insurance.... :))
I want to get off Turo and go private in AZ. Any recommendations on getting my rental cars covered?
🔥🔥🔥🔥🔥 I will be ready to start my company soon and I'll be calling you good video
Thanks :)
Does anyone knows here which company covers rental cars in Australia. I can’t find one
We are planning to rent out our cars on turo in Maryland, it's 1 out of 2 states that turo doesn't cover insurance on, because Maryland is the worst place to do business in, do you have any recommendations?
I live in California and wanted to start the rental car business. Can I set up a consultation?
I live in Maryland. I will love to start a car rental
I am a Turo host for 4 months now and I like this business. I currently have 4 cars on Turo and they are doing well. However, I see the potential of having a legit car rental company. How can I proceed to make it happens? TIA
Happy New Year 🎉
Watch my videos. or book a call :)
What cars do you use? Also, which Turo coverage plan are you on?
Hey Lucky,
Are you planning to come by to Anchorage Alaska ? Thank you for your videos 😃
Farthest north I go is Seattle but the rental market in AK is insane
Will renting cars through Turo add to your experience? How much experience do you recommend having before starting your own car rental company? What are good cars to start up with? Brand new cars or used ones with lower mileage?
Yes, absolutely. and it all depends on your budget
How can we get insurance on those cars I have 1 BMW 2019 and 1 2022
I’m just trying figure out how to rent private and do private contracts and rent by getting they insurance where the course at I’m trying to sign up I’m tired of turo
everything is our our website www.Automotivelife.com
Great information! I’m in commercial vehicle sales, ( bucket trucks, dump trucks, utility trucks etc) and over the years we’ve had people wanting to rent these trucks. The last few months I’ve given it thought to expand into rentals, however I’m concerned with the specific liabilities of renting for a example a bucket truck. What are you’re thoughts? I’m focusing more to rent to other businesses. Thank you
That is awesome!
Yesss! I’ve been wanting to know this one!
Yesssss
Thanks for everything Lucky. In NV, does the short-term lessor licence = car rental license? I'm in Washoe.
I’m not sure in your particular county but in Nevada you can get the short term leaser license and rental car.
If you’re a dealer and you’re doing leases then you need the Dealers License plus the short term lease or less relations
Lucky: Great Video. Insurance is always difficult & confusing.
Thanks I appreciate that
Videos are always informational and no gimmicks! 🙏🏽
I appreciate that!
Can we have some more info about the intern at your location? Or even a video? Thanks.
we are not doing interns
I'm interested in doing something in New Jersey using cars that are from the '80s and '90s is that something you could help me with?
Hello Lucky
Is your Rental Car Company course up and running right now?
its been up for over a year. and running. 300 student online
I will purchase it next month and thank you
I’m currently getting the required license in Maryland for a rental car company( Property & casualty insurance license ) I’m only interested in renting out used Rolls Royce Wraiths and Ghosts (under $200k )Are those hard to get insured?
Hard. unless you have a driver for the vehicle
I just closed down my Australian Car Rental company due to to the pandemic and government regulations. I can now breathe after a long ride. The one thing you tubers never mention are the credit scammers and rental thieves. I NEVER rented to anyone under 28 unless they were tourists. You hit it right on when you said "insurance is something you never want to use".
thanks for sharing Do you use Lexus Nexus in Australia ?
Hi Adelaidediscountauto, can you please let me know which insurance company did you use for your rental cars.
Thanks for the info and sharing your knowledge/experience
Thank you for watching
The word “insuree” is incorrect. It’s either the insurer (insurance company) or the insured (person who is purchasing insurance).
Lucky I think you’re fantastic I think you give super super good advice I don’t know a lot about this business but I’ve been doing some research and everything you say is just so on point and appropriate that I can’t thank you enough but my mate main question is my employer who I’m going to be the business consultant for she’s from out of the country she wants to rent ATVs what do you think about that along with trucks autos and possibly RVs as a scalable business not not any rinky-dink type stuff this would be big business
Can you tell us about what software to use for rental car agreement to customers
Rent centric
Best insurance to get
Congratulations Michael!
🙌
Can I mandate that my customer provides insurance and not have my own? I heard this is how some companies do it.
Lucky do you know any app online that tells how much certain or types of car collision damage should cost to fix.
There is none because most of it is based off of experience it’ll tell you how much parts cost and everything else but it won’t tell you how many hours it’ll take to straighten a frame.
I was the one that called you during this video 😅
lol. Nice
I own a body shop in New England, is it worth getting some rental cars? How do you calculate if it's worth it?
Thanks for the great videos Lucky! Question. Can I rent out my dealership's cars? Wondering because that could save me a lot of sales tax when building my fleet.
it depends on your state and your insurace
You cannot rent out cars in your dealer inventory and use Dealer plates in California
@@AmroidSolutionsLLC Yeah we talk about it all the time on the channel you cannot use your dealer plate if you have the insurance and the registration you can rent out your cars
I recently made a trip to El Paso, TX and used Turo. One of the dealerships had a good chunk of their Nissans on the Turo platform. It was odd and wondered the same thing. I guess it depends on the state? 🤷🏻♀️
What if a person who gave me their insurance information have an accident after they cancelled their policy?
Been Waiting on this one ☝️
Facts!!!
Looks like I am gonna have to get the course.
:)
Great content. Interested in learning more and taking the course.
😁👍
I am In Texas, and Have a LLC, what companies do rental insurance
Is there a way you can pay someone to do this process for you
They want to charge me $25,000 Per vehicle Since 'm 18 and just starting out.... That's for the lowest insurance. I'm currently scouting prices but if I cannot find anything better I don't know what I'm gonna do. Any suggestions? I'm in Toronto Ontario
Hi Lucky, I’m from New York. How can I get your course?
💯good!
Yesssss
great explanation
I was able to add the car rental endorsement to my busn license for free in Washington state. Is that what I needed to do? How long are your consulting sessions?
1hr
Love this!! Great information and easy to follow.
Glad it was helpful! thanks 😁👍
Also can you rent cars on your floor plan?
Sorry that one if for the online classes only :)
Great info especially the insurance aspect of it.
Hi there how do I go about scheduling a consultation with you thank you🙏
crm.automotivelife.com/schedule-call
I want to buy your course
Thanks for the video. I have a quote for commercial insurance on rental fleet.(4 cars). The insurance company want $205 a month for each car. The down payment is 2 months per car. This amount seems really high for cars that are worth around 12K. Your thoughts?
That’s cheap for rental car insurance my average car was about $350 and they were just regular cars
who gave you the quote?
What company are you using? I can’t find any company to insure a rental fleet.
You my man are holding onto some golden info 😂
@@J26-e6gIM Also trying trying to get insurance for my rental cars but can’t find a company australia
I'm in the search for Insurance in Texas but I haven't found a covered policy that handles ride sharing. How the hell are these people listing?!
Most people if they’re using ride share apps they just use the insurance provided by Turo you can buy an additional insurance through your provider but a lot of them don’t like it and will charge you extra money
@@LuckyLopez777 I'm Having issues on the adding additional coverage for ridesharing. Seen some other channels just use personal full coverage, wanting some opinions or suggestions on what to do about that case?
Ride sharing is not the same thing as vehicle sharing. Ride sharing is Uber or Lyft. Basically a known driver. Vehicle sharing is a car rental business and the risk for the insurance company is unknown drivers and unknown use. I am a insurance agent and want to rent out a big high end van that I have worth about $90k, however I cannot find an insurance company or surplus lines insurance carrier that will write a policy to give me more than the dismal $750k Turo limit. You all are taking a huge risk with such a low limit and a lower could take everything even if you have an LLC. At a minimum you should have $2 million limit. Heck, most business need to have at least $1million to conduct any business at a commercial site. So what company are you finding that will write a commercial vehicle policy for rent or a commercial liability umbrella policy to supplement the Turo $750k? Please share, thank you..
Thanks for the great video! I’m trying to get commercial fleet insurance for the 13 cars that I rent on turo, they are all personally financed and we would like to know how we can purchase fleet commercial insurance, also how do you provide insurance to renters that don’t have the proper insurance plan?
there are companies that do supplemental insurance you just have to find them
Letsss goo dropping all the 411 💪🏾
Facts!!!!
love your vids bro. super informative. How would we be able to get car insurance without experience? would i have to use my vehicles on a platform that is already developed?
One of my customers want to buy a vehicle from me. I can't find a contract for Rent to buy for cars. Can you provide that information? Thank you!
Did you get my comment????
No reply 😮
So ready to start renting
🙌💰💰💰
Thank you for the info!
Any time!
What are your thoughts on self insurance? I'm in Hawaii and the bond is a minimum of $300K. I still think it's worth it because I was quoted at almost $100 a car and I have 50 cars. It would cost me $60K/year in insurance vs depositing $300K with the State. Anything I'm missing here? As you mentioned, I require a contract and customers with full coverage insurance only
self insured is the way to go if you can afford it. Hertz Budget enterprise all self insured
@@LuckyLopez777 would it be better to insure under dealer insurance just to have them street legal and use customers insurance for rental? Unless there's a specific advantage to self insurance?
@@babarentals2941 It all depends on the state 11 and your insurance company most insurance company policies do not ensure Rental cars if you were dealer unless you have that in your policy written I would not recommend it
Just the info. I need💪🏾😎
Glad I could help 😁👍
Chicago here😩
Hey Lucky is it still a good time to do car rentals?
Yes alot of people are going to be leaving because its not super easy the Part timers and that will leave more space for people doing it FT
Great content man
I cant believe is for free 👍✅
I only charge on my Onlyfans 🤣🏎
Very nice video. But I need to hear around how much the policy is with good credit and about 10 cars to start. No fancy cars, just regular cars. I only have 3 years of experience in renting vehicles on turo and similar platforms. Plus an experience of about 5 years as a car dealer. #Luckythebest
300 PER CAR maybe 1500 to start a policy
@@LuckyLopez777 $1500 per month?
@@DailyInspirations101 Read my comment again slowly
Hey what’s the contact number for The consultation need to se up one on rental car thanks
hi I'm interested in the car rental business, I'm texting you from west Africa, Liberia.
welcome hows the market in Liberia
@@LuckyLopez777 it's good
i work with a vehicles rental company right now but would like to open mine soon
what advice can you give ?
My man!
Hey bro
great content! Info is blood Raw!
Facts!!!
Very informative. Thank you!
Thanks for watching
I have my wholesale license, how do I get into the auctions?
you have to go to the auction house and apply
@@LuckyLopez777 Are their fees invovled
Thanks, great video
thanks Fred. I appreciate the comment :)
Can the gift card be used for online purchases?
Yes it can :)
I’m looking to start a car rental business! Any tips?
subscribe to my channel :)
@@LuckyLopez777 one step ahead of you!
Killer content bro! 😎💪 keep it up
thanks John. will try to keep it up :)
Very informative.
Thanks 😁🙌
Great like always
Thank you so much 😀
The best videos
Thanks I appreciate that
Very good information 🔥🔥🔥
Great video 👏👏👏
Glad you enjoyed it
Yessir
Yessssssiiirrrr
Great info
Thanks for watching!
Great content very informative
Glad it was helpful!
Love this channel
Thanks :) I appreciate that
Win! Win! Chicken dinner!
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