How To Make Money on Turo With Your Van

If you are looking for ways to make extra money, Turo can be a great way to turn your van into a source of passive income.

Turo is a car-sharing company that allows you to rent out your van for extra cash. It is the world’s largest peer-to-peer car rental marketplace, where you can list your van for rent and connect with travelers looking for a unique and convenient way to travel.

Want to learn how to make money on Turo with your van? Below, we’ll talk about the basics of the platform, what you need to get started, and how to maximize your earnings.

What Is Turo?

As a vehicle owner, you can take advantage of the Turo platform to make some extra money. Whether you’re looking for a passive income stream or if you just have a van that you’re not using, you can use the platform to earn money.

With Turo, you have the advantage of being able to list your van as an individual, as opposed to other rental companies like Hertz or Enterprise. It also offers trip price protection and a user experience guarantee so that both you and your renters have a great experience.

What we like most about Turo is that it lets you set your own rates and even a daily rate, allowing you to earn more money for longer rentals. By partnering with Turo, you don’t have to worry about the hassle of managing a rental business.

The platform offers liability insurance so that you can feel secure that your van is protected while it’s being rented out. Turo also gives vehicle owners the opportunity to purchase physical damage insurance to provide additional insurance protection.

Liberty Mutual offers insurance plans specifically designed for rental vehicles, so you can rest assured your van is adequately protected while it’s out on the road. You can choose from a variety of insurance options to make sure your personal insurance is not affected by your rental business.

What Are the Benefits of Using Turo?

Using Turo to make money with your van comes with the following benefits:

Create a passive income stream by setting your own rates
Make more money than with traditional rental companies
Liability insurance from Liberty Mutual
User experience designed to make it easy to make money
Automatically collect payment and transfer it to you
Physical Damage Protection in case of any damage to your van
Variety of insurance options to choose from for the best coverage

Getting Ready to List Your Van

As with any business venture, you need to plan and prepare before you can push through with your cargo van business idea.

Step 1: Set Your Rates

Setting your rates for renting out your van is an important part of the process. With Turo, you have the option to set your own daily, weekly, or monthly rates. This makes it possible to earn more than with traditional rental companies.

It’s important to keep in mind that the rate you set should cover your liability insurance and other costs associated with renting your vehicle. Fortunately, Liberty Mutual offers an insurance plan specifically for Turo users.

While Turo offers insurance plans with Liberty Mutual, you can also use your personal insurance options instead. That way, you can protect yourself and your vehicle in case of any physical damage.

When setting your rates, you’ll also want to factor in the price of the trip and the user experience. You can also set other fees like cleaning fees. Once you’ve decided on a daily rate, you can move on to the next step.

Step 2: Create Your Listing

Before you can start making money on Turo, you need to create your listing. Provide as much information as possible about your van, including its make, model, year, and features. You will also need to upload photos to your listing to help users get an idea of what it looks like.

Step 3: Prepare Your Van

Of course, you need to make sure your van is in the best possible condition. Pay special attention to safety, as Turo requires all vehicles to pass a safety inspection.

You can only provide a good user experience if your van is clean and stocked with the basics, such as a first-aid kit, jumper cables, and a tire jack.

Last but not least, make sure you have the necessary documents on hand. This includes the vehicle identification number, proof of ownership, and personal insurance for the vehicle in case of physical damage.

Completing the Verification Process

After listing your van, you will need to complete the Turo verification process. This process is designed to ensure the safety of both the vehicle owners and the renters. As such, it will require you to upload a driver’s license, verify your phone number, and provide proof of insurance.

Step 1: Upload a Driver’s License

Uploading a driver’s license helps Turo verify the identity of drivers to provide extra security and peace of mind to vehicle owners. To upload a driver’s license, drivers need to provide a valid license issued by the state they live in.

After that, Turo will review the information and approve the driver’s license for use. Once approved, drivers can start booking vehicles and start making extra money with Turo.

Step 2: Verify Your Phone Number

Verifying your phone number is a straightforward process. Upload a photo of your driver’s license, and then enter your phone number for a code that Turo will send you. Once you enter the code and click Submit, your phone number will be verified, and you’ll be ready to start earning money on Turo.

Step 3: Provide Proof of Insurance

There are a few insurance options for vehicle owners, so make sure to research and find the best plan for you. A valid insurance policy must include liability insurance, physical damage insurance, and personal injury protection for the rental vehicle.

If you are located in San Francisco, you can purchase the Liberty Mutual Turo protection plan to provide the necessary coverage. You can also use your personal insurer to provide insurance protection for your van.

Whichever option you choose, make sure it meets Turo’s minimum requirements and provides the best user experience.

Making Money With Turo

After completing the verification process and putting up your listing, you can start making money. To make sure you’re on top of things, remember to pay attention to the following steps:

Step 1: Track Your Earnings

Once your van is listed, you can track your earnings through the Turo dashboard. You will be able to see the trip prices, daily rates, and annual earnings you are receiving from your rental vehicle. This will help you determine which vehicles are the most profitable and which ones need to be adjusted.

Additionally, tracking your earnings will help you determine if you need to get additional insurance protection for your vehicle. You can also adjust your rates to maximize your earnings.

Step 2: Respond to Inquiries

Knowing how much you make on Turo is key to maximizing your earnings. To make sure you receive payment for your rentals, use the Turo app or website to track your earnings in real-time.

You’ll be able to see the daily rate for your van, the trip price, and other details about your rental. Doing this will also help you keep track of your annual earnings to see how well your van is doing on Turo.

Step 3: Schedule Pickup and Drop-off Times

You’ll need to establish a pickup and drop-off time that works for you and your renter. Consider their needs but also make sure you’re not overworking yourself. You will also need to make sure your vehicle is available for the times you’ve selected.

Tips for Maximizing Your Earnings

Knowing how to make money on Turo with your van is more than just listing your vehicle. These tips and tricks can help you maximize your earnings and provide your renters with the best possible experience:

Start by setting your daily rate at a competitive price. Many owners in San Francisco list their vans for over $200 a day. When setting your trip price, consider including an extra fee for additional kilometers or a cleaning fee.
Look into getting liability insurance through Liberty Mutual or another provider. This will provide you with protection in case of an accident and will make you a more attractive option for renters.
Make sure your van is in top condition at all times. A good-looking and well-maintained van will help you get more bookings.
Finally, make sure all your vehicle identification documents and personal insurance information are up to date. This will help you provide a safe and secure experience for your users.