Part 5/9:
Rising Costs and Insurance Changes
Another important factor influencing my decision to part ways with Turo was the rising insurance costs associated with having to cover miles driven by guests since my previous insurance provider, Metromile, had ended its partnership with Turo. This necessitated paying a standard premium, which made maintaining the business less financially viable.
Overall, these unforeseen expenses combined with diminishing rental income made the Turo model unsustainable for my situation.