Loss of hosting income

Am I eligible to receive loss of hosting income?

If you’re a US host, you’re eligible to receive loss of hosting Income if you meet both of the following criteria:

• Your vehicle is damaged on a trip for which you’ve chosen the Premium protection plan (available before July 1, 2020) or the 60 plan (available as of July 1, 2020) 
• If you’ve chosen the 60 plan, you’ve chosen not to receive Replacement Vehicle Reimbursement

If you’re a UK host, you’re eligible to receive loss of hosting income if your vehicle is damaged on a trip for which you’ve chosen the 65 plan. 

How many days of loss of hosting income am I eligible for? 

Turo will verify with your shop the number of days required to repair your car and compare it to the number of hours listed on the estimate to ensure it falls within a reasonable period. We define reasonable period as one day of loss of hosting income paid for every four hours of labor on the estimate. If the math is uneven, for example 25 hours divided by 4 hours = 6.1, we’ll round up. If the repair timetable includes any weekend days, Turo will pay you loss of hosting income for those days as well.

Example 

Scenario:  The estimate for your damaged car lists 25 hours of repair. We divide 25 repair hours by 4 hours per day to determine that we’ll pay you loss of hosting income for 7 days. Repairs to your car begin on a Monday (we always assume a Monday repair start) and the shop is closed on Saturday and Sunday, so no work can be done on those days. Instead of paying you loss of hosting income for 6 days, we’ll pay you for 9 days -- Monday through Friday and the following Monday when the work was being completed as well as Saturday and Sunday when your car was stuck in the shop. In other words, for every 5 day period, we’ll add a weekend. 

How is loss of hosting income calculated?

Turo will calculate loss of hosting income by multiplying your average daily earnings for the vehicle over the past 60 days by the reasonable period for repairs. Again, that’s one day of loss of hosting income paid for every four hours of labor on the estimate. Reasonable range extends up to a maximum of 30 days. We count back 60 days beginning on the day prior to the start of the trip during which the damage occurred. Average daily earnings only include earnings from trip price. They do not include ancillary fees such as late fees, reimbursements, cleaning costs, tolls, tickets, excess mileage, etc. 

Example

Scenario: Your car is under the US 60 plan or UK 65 plan, was damaged during a trip, and is in the shop being repaired. Let’s say you’ve earned $1,200* with the damaged vehicle over the last 60 days, which start the day before the trip during which the damage occurred. Turo divides $1,200* by 60 to get $20*. Turo confirms with your shop to verify the number of days required to repair your car. Your car needs to be in the shop for 8 days. This is a reasonable range based on the hours listed on the estimate. Turo credits your host earnings $160*. Total earnings: $20* x 8 days = $160*.

Restrictions and exceptions

• Turo doesn’t cover lost hosting income from upcoming trips canceled due to a damage claim. Most reservations are made within 24 or 48 hours prior to the trip starting.
• Turo will only pay a host for the number of days required for car repairs plus any weekend days included in that timeframe. We won’t pay for any days that the car sits in the shop because you’re unable to pick it up..
• If your vehicle doesn’t have enough trip history to generate an average earnings over the last 60 days, we’ll provide you with the minimum payout of $25*.
• If the total average earnings that you would be compensated is less than $25*, we’ll provide you with the minimum payout of $25*.
• A host can receive loss of hosting income for multiple cars if they have multiple vehicles undergoing repairs at once. However, US hosts will receive one replacement reimbursement vehicle (if any). Only UK hosts with one car listed on Turo will receive a courtesy car. 
•  There will be times when a host would benefit more if specific income lost due to cancellations were paid instead of the policy described above. However, we expect that the policy described above will benefit most hosts during the typical damage claim. 

*Amounts are in £ for hosts in the UK. They’re in US$ for hosts in the United States.