Coming Soon: Lower Deductible Impact, Higher Earnings, More Profit
What if you didn’t have to worry as much about damage deductibles?
This is one of the biggest challenges for Turo hosts. You want to earn as much as you can for every booked trip, but hanging over every booking is a cloud of concern about your vehicle being damaged and your protection plan deductible causing you to come out of pocket for a portion of the repair cost.
Add to this the recent legal news coming out of Florida signaling that hosts may (still developing) have more difficulty resolving damage claims with their guest’s insurance company, and the concern over deductibles is inflamed.
How would you change your business if this was less of an issue?
If you knew that your deductible impact would be lower in the event of a damage claim that had to be resolved with Turo, would you move your vehicles to a higher-earnings protection plan? Let’s look at a scenario together:
You’re currently on the 75 Plan.
Your vehicle generates, on average, $1,000 per month in income, before the protection plan split.
You move to the 90 Plan.
Your earnings will increase by $150 per month, on average, if all else remains equal.
Your new annual earnings on that one vehicle have increased by $1,800.
Now, obviously, you do some other math in your head and realize that if the vehicle is damaged, you have a $2,500 deductible instead of the $250 deductible on the 75 Plan.
But what if you only had to worry about a $1,250 deductible impact on the 90 Plan? Even if you had an accident, incurred the $1,250 deductible impact, you’d still be ahead by $550 by being on the higher plan.
Sounds good, but how is this possible?
This is where I’ll introduce you to the Claimshare Cooperative, making its debut on December 1, 2022. The Claimshare Cooperative is a membership based co-op that will reimburse members for Turo damage claim deductibles up to their maximum annual benefit amount, equal to the full damage deductible for each Turo protection plan.
Annual Member Benefits Available
Tier 1: $250
Tier 2: $750
Tier 3: $1,625
Tier 4: $2,500
Membership begins at just $10.50 per month!
There is even a special perk available to the first 20 members, designated as “Pioneer Members.”
The Claimshare Cooperative is currently in the due-diligence phase through the month of November, with legal and accounting work being done, a board of directors being formed, a capital injection being finalized, processes and procedures being fine-tuned, and proof of concept being sought.
If this sounds intriguing, request more information.
Click on over to the Claimshare Cooperative website, complete the information request form, and you’ll be added to the list of people receiving updates as launch date approaches.
A limited number of members will be accepted into the cooperative for the first 90 days. Adding yourself to the list now will get you near the front of the line! Not all applicants will be approved for membership.