How to Get Rental Car Insurance for your Business ( Giveaway Winner Announced )

How to Get Rental Car Insurance for your business
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[@buckwildcomedy]

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

[@aarontaylor9264]

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.

[@richgenix]

Just the video I was looking for! Thank you

[@dennispatton2356]

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

[@trebeck8800]

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?

[@downbeatfinancial]

The video we’ve been waiting for! Finding jet ski rental insurance took forever. Finally found 1 company that covers my state.

[@LuckyLopez777]

Nice 👍

[@juang6679]

What state are you in and what's the company that covers your jet ski rentals?

[@downbeatfinancial]

@@juang6679 Arizona. It was a company called Xinsurance

[@andrewcarter9356]

Videos are always informational and no gimmicks! 🙏🏽

[@LuckyLopez777]

I appreciate that!

[@car9uy]

Love this!! Great information and easy to follow.

[@LuckyLopez777]

Glad it was helpful! thanks 😁👍

[@goldcap6717]

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?

[@shesobossi8194]

Yesss! I’ve been wanting to know this one!

[@LuckyLopez777]

Yesssss

[@mrmindset1019]

love this channel I'm a dealer and this channel has been a blessing!

[@LuckyLopez777]

Thank you I appreciate that what city and state is your dealership in

[@dancin4]

Great info especially the insurance aspect of it.

[@jamesfenoglio1283]

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

[@smithtaiyou]

I want to get off Turo and go private in AZ. Any recommendations on getting my rental cars covered?

[@juanmaya2807]

Great content. Interested in learning more and taking the course.

[@LuckyLopez777]

😁👍

[@pablo0832]

Thanks for the info and sharing your knowledge/experience

[@LuckyLopez777]

Thank you for watching

[@maccmacccc]

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

[@gernotritzau5948]

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?

[@henrychiang1541]

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.

[@A_olli]

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

[@LuckyLopez777]

That is awesome!

[@Hotheadjuju530]

So I just brought a car on personal side no insurance yet should I put it under a commercial insurance?

[@dandrus713]

Very informative. Thank you!

[@LuckyLopez777]

Thanks for watching

[@MrInferno818]

I've been waiting to. I'm still thinking about buying the course.

[@LuckyLopez777]

dont wait too long lol

[@toofadedcali3729]

Been Waiting on this one ☝️

[@LuckyLopez777]

Facts!!!

[@joel_seth_media]

Thanks for everything Lucky. In NV, does the short-term lessor licence = car rental license? I'm in Washoe.

[@LuckyLopez777]

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

[@josetrujillo3813]

Thank you for the info!

[@LuckyLopez777]

Any time!

[@saviontapia968]

Just the info. I need💪🏾😎

[@LuckyLopez777]

Glad I could help 😁👍

[@2dope4ya]

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?

[@viktorgee88]

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

[@johnhill1978]

Killer content bro! 😎💪 keep it up

[@LuckyLopez777]

thanks John. will try to keep it up :)

[@Xenirie]

Can I mandate that my customer provides insurance and not have my own? I heard this is how some companies do it.

[@1967davethewave]

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.

[@agentofchangecreditsolutio9436]

great content! Info is blood Raw!

[@LuckyLopez777]

Facts!!!

[@onlyinrebeltube7692]

Does anyone knows here which company covers rental cars in Australia. I can’t find one

[@ttconstructorsllc150]

Hey Lucky, Are you planning to come by to Anchorage Alaska ? Thank you for your videos 😃

[@LuckyLopez777]

Farthest north I go is Seattle but the rental market in AK is insane

[@AB_THE_CEO]

🔥🔥🔥🔥🔥 I will be ready to start my company soon and I'll be calling you good video

[@LuckyLopez777]

Thanks :)

[@bugzmoney434]

Also can I have my car registration in one state and my insurance an a different state

[@mishathecarman4231]

I own a body shop in New England, is it worth getting some rental cars? How do you calculate if it's worth it?

[@AllThingzReal]

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?

[@LuckyLopez777]

Hard. unless you have a driver for the vehicle

[@BarbaraHills-dn7yu]

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.

[@baptismking7314]

HEY WHAY INSURANCE DO YOU HAVE NOW CURRENTLY FOR YOUR FLEET. I have 18 cars aswell

[@MrInferno818]

Looks like I am gonna have to get the course.

[@LuckyLopez777]

:)

[@FahadKhan-dr7rl]

Hi Lucky, I’m from New York. How can I get your course?

[@tweezy7151]

Is there a way you can pay someone to do this process for you

[@AmroidSolutionsLLC]

Thanks, great video

[@LuckyLopez777]

thanks Fred. I appreciate the comment :)

[@user24897]

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.... :))

[@betino705]

Great content man I cant believe is for free 👍✅

[@LuckyLopez777]

I only charge on my Onlyfans 🤣🏎

[@bryanfugate2272]

Lucky: Great Video. Insurance is always difficult & confusing.

[@LuckyLopez777]

Thanks I appreciate that

[@ehiosuenoma-gw2gt]

I live in Maryland. I will love to start a car rental

[@lauranjohnson9972]

Letsss goo dropping all the 411 💪🏾

[@LuckyLopez777]

Facts!!!!

[@yahyaibnjohnbrown9159]

Very good information 🔥🔥🔥

[@malikhakeem5086]

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.

[@LuckyLopez777]

it depends on your state and your insurace

[@AmroidSolutionsLLC]

You cannot rent out cars in your dealer inventory and use Dealer plates in California

[@LuckyLopez777]

@@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

[@nancybjackson4508]

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? 🤷🏻‍♀️

[@davaronmiller4880]

Great content very informative

[@LuckyLopez777]

Glad it was helpful!

[@bugzmoney434]

So do I need rental car insurance and commercial ?

[@alexrein6229]

Great like always

[@LuckyLopez777]

Thank you so much 😀

[@laquitasmith2065]

Congratulations Michael!

[@LuckyLopez777]

🙌

[@pratheepaselvarajah1949]

💯good!

[@LuckyLopez777]

Yesssss

[@rafaelvillamizar5183]

What if a person who gave me their insurance information have an accident after they cancelled their policy?

[@bena9221]

Lucky do you know any app online that tells how much certain or types of car collision damage should cost to fix.

[@LuckyLopez777]

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.

[@user-nh1oq3fk9p]

great explanation

[@marcusholmes3972]

I am In Texas, and Have a LLC, what companies do rental insurance

[@tanhuynh9617]

The word “insuree” is incorrect. It’s either the insurer (insurance company) or the insured (person who is purchasing insurance).

[@carrentersclub]

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?

[@LuckyLopez777]

there are companies that do supplemental insurance you just have to find them

[@KR-po1eb]

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?

[@LuckyLopez777]

Yes, absolutely. and it all depends on your budget

[@mohamedadenwala3488]

How can we get insurance on those cars I have 1 BMW 2019 and 1 2022

[@anandaisraq2404]

Very informative.

[@LuckyLopez777]

Thanks 😁🙌

[@freshreserve2503]

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

[@LuckyLopez777]

everything is our our website www.Automotivelife.com

[@mikemillie3826]

Can you tell us about what software to use for rental car agreement to customers

[@LuckyLopez777]

Rent centric

[@dannymoss2540]

Great info

[@LuckyLopez777]

Thanks for watching!

[@mulamschante9491]

So ready to start renting

[@LuckyLopez777]

🙌💰💰💰

[@bentleybullrun4006]

I was the one that called you during this video 😅

[@LuckyLopez777]

lol. Nice

[@solidsnake3031]

Love this channel

[@LuckyLopez777]

Thanks :) I appreciate that

[@tonioharvey2017]

Best insurance to get

[@MateusReus]

Great video 👏👏👏

[@LuckyLopez777]

Glad you enjoyed it

[@huangyi8451]

My man!

[@LuckyLopez777]

Hey bro

[@HappyCleanersWA]

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?

[@LuckyLopez777]

1hr

[@clayermel]

Love the content

[@LuckyLopez777]

Thanks I appreciate it

[@josetrujillo3813]

Can we have some more info about the intern at your location? Or even a video? Thanks.

[@LuckyLopez777]

we are not doing interns

[@babarentals2941]

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

[@LuckyLopez777]

self insured is the way to go if you can afford it. Hertz Budget enterprise all self insured

[@babarentals2941]

@@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?

[@LuckyLopez777]

@@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

[@jaymastermind6340]

Hi there how do I go about scheduling a consultation with you thank you🙏

[@LuckyLopez777]

crm.automotivelife.com/schedule-call

[@NathanHunter87]

Yessir

[@LuckyLopez777]

Yessssssiiirrrr

[@blackautobuying1987]

Hello Lucky Is your Rental Car Company course up and running right now?

[@LuckyLopez777]

its been up for over a year. and running. 300 student online

[@blackautobuying1987]

I will purchase it next month and thank you

[@triplegamer8283]

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

[@taras8857]

The best videos

[@LuckyLopez777]

Thanks I appreciate that

[@copperfieldtexas5791]

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 🎉

[@LuckyLopez777]

Watch my videos. or book a call :)

[@smithtaiyou]

What cars do you use? Also, which Turo coverage plan are you on?

[@notJafar]

First comment! Ha!

[@LuckyLopez777]

Yes you are!

[@ehiosuenoma-gw2gt]

I want to buy your course

[@DailyInspirations101]

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

[@LuckyLopez777]

300 PER CAR maybe 1500 to start a policy

[@DailyInspirations101]

@@LuckyLopez777 $1500 per month?

[@LuckyLopez777]

@@DailyInspirations101 Read my comment again slowly

[@zackpenick8811]

Super informational

[@LuckyLopez777]

Glad it was helpful!

[@premiercarsource5736]

Hey Lucky is it still a good time to do car rentals?

[@LuckyLopez777]

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

[@bentleybullrun4006]

Also can you rent cars on your floor plan?

[@LuckyLopez777]

Sorry that one if for the online classes only :)

[@user-md6jm7ti1x]

Hey what’s the contact number for The consultation need to se up one on rental car thanks

[@skylarparks6485]

Can the gift card be used for online purchases?

[@LuckyLopez777]

Yes it can :)

[@anthonywolfe7507]

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?

[@LuckyLopez777]

That’s cheap for rental car insurance my average car was about $350 and they were just regular cars

[@lartist580]

who gave you the quote?

[@user-bl4ez3sh5g]

What company are you using? I can’t find any company to insure a rental fleet.

[@InvisibleGuy2]

You my man are holding onto some golden info 😂

[@onlyinrebeltube7692]

@@user-bl4ez3sh5gIM Also trying trying to get insurance for my rental cars but can’t find a company australia

[@nado1k]

I’m looking to start a car rental business! Any tips?

[@LuckyLopez777]

subscribe to my channel :)

[@nado1k]

@@LuckyLopez777 one step ahead of you!

[@Onlybabyjesus33]

Chicago here😩

[@gc8836]

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?!

[@LuckyLopez777]

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

[@gc8836]

@@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?

[@user-bl4ez3sh5g]

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..

[@urbandisciple5414]

I have my wholesale license, how do I get into the auctions?

[@LuckyLopez777]

you have to go to the auction house and apply

[@urbandisciple5414]

@@LuckyLopez777 Are their fees invovled

[@carolyncorbett5999]

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!

[@carolyncorbett5999]

Did you get my comment????

[@carolyncorbett5999]

No reply 😮

[@Koala-Express]

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".

[@LuckyLopez777]

thanks for sharing Do you use Lexus Nexus in Australia ?

[@onlyinrebeltube7692]

Hi Adelaidediscountauto, can you please let me know which insurance company did you use for your rental cars.

[@JohnSmith-yv1lv]

Hmm, interesting

[@LuckyLopez777]

:)

[@rhomerleonero4281]

Great information, thank you sir, zyromyx rent a car and Trading at Philippines,