Terms of Service — Period X™
We created Period X™ insurance for fleet owners or individuals that are renting their cars out on a car sharing platform such as Turo and TripCity. While insurance is usually provided to the renter through these platforms, these platforms do not supply the insurance for when the vehicle is not rented.
Period X™ Payments
Enrollment in autopay is required to keep insurance costs down. Payments will be processed on the 3rd day after your statement date. Upon cancellation of the policy, the insured shall be liable for the premium earned up to the date of cancellation. If the billing cycle's scheduled payment date occurs after the cancellation date, the payment method on file will be charged for the outstanding premium of the prior month's usage.
Period X™ Guidelines
- 250 miles permitted off rental per vehicle for maintenance, repairs, etc.
- The Period X policy is for commercial vehicles only. Consistent active renting is mandatory. A significant lapse in rental activity is grounds for Period X policy cancellation.
- Approved Trackers are required to be installed in each vehicle within 60 days of binding coverage. Approved Trackers will send data including but not limited to mileage, location, and driver speed. Failure to install Tracker in scheduled vehicle will result in policy cancellation.
- This policy does not provide coverage for unlisted drivers, including those operating under permissive use. It is the responsibility of the policyholder to ensure that all prospective operators are explicitly added to the policy to guarantee valid coverage.
Immediate Cancellation Conditions
Your policy is subject to immediate cancellation if any of the following conditions occur:
- A vehicle is not consistently rented out (specifically, if no rental occurs in 30 days), or if the vehicle lacks an approved tracking device.
- The vehicle's off-rental mileage exceeds 250 miles per month.
- You rent vehicles directly to customers outside of an approved platform.
- There is a material change in your overall rental operations or exposure size.
Terms and Conditions
- Vehicles that are unable to be rented out or are inoperable must be removed from the policy (this includes repairs).
- Tracking devices are approved for use on our group insurance. Please refer to your device agreement for data coverage provided.
- Minimum Age Requirement for Drivers is 21 years old (subject to driving record).
- Drivers are required to be scheduled on the policy prior to operation.
- Any drivers that are not reported on the policy will be excluded from coverage.
- Policies will be endorsed with a Catastrophic limit of $250,000 per terminal location.
- While vehicles are on Period X™ they may only be driven for minor servicing & repair. Any vehicles that are inoperable for more than 30 days will need to be removed from the policy. This insurance program is primarily provided for your vehicles while stored and waiting for use on Turo, TripCity, Zevo, or any other approved platform.
- No business use or personal use allowed. This is a program to cover vehicles while awaiting to be rented, stored or for minor service.
- Excessive off rental mileage (over 250 miles per vehicle per month) while on Period X™ coverage will result in vehicle removal, coverage cancellation, or denial of claims.
- There is NO COVERAGE while vehicles are rented, leased, borrowed by others, or active on an online platform including but not limited to: Turo, Uber, Lyft, DoorDash, Postmates.
- These vehicles must not be used as service vehicles or for personal use.
- If policy is under Personal Name, the named insured must have a clean/approved MVR.
- Terrorism, Assault, and Battery is specifically excluded.
- The insured is responsible for the removal of vehicles involved in a total loss, that become inoperable, are sold, are removed from rental platforms, or have replacement coverage, the following day. Failure to remove vehicles within 30 days will result in the denial of backdating requests.
Terms of Service — Period Z
By enrolling in or utilizing the Program ("Program"), the Insured hereby agrees to the following terms, conditions, and operational requirements. Adherence to these provisions is mandatory for maintaining valid coverage.
I. Financial Terms and Premium Calculation
Premium Rating Structure: This Program operates as a "per-day premium-rated policy." All quoted and actual insurance premiums are calculated and assessed exclusively based upon the estimated and verified actual per-day rental data supplied by the Renter or the Insured.
Taxes, Fees, and Assessments: All premiums associated with this proposal and the entire duration of the Program are subject to the application of all relevant state surplus lines taxes and regulatory fees as required by governing authorities.
II. Coverage Scope, Exclusions, and Eligibility
Specific Exclusions: Coverage provided under this Program shall specifically exclude all losses or liabilities arising directly or indirectly from acts of Terrorism, Assault, and Battery.
Prerequisite Coverage: Eligibility for Period Z coverage is strictly conditional upon all covered vehicles maintaining in-force Period X coverage, which must explicitly include physical damage coverage. Failure to maintain this prerequisite coverage shall void all corresponding Period Z coverage.
III. Operational Compliance and Data Requirements
Renter Vetting and Due Diligence: The Insured is required to exercise strict due diligence in the vetting of all potential Renters. This vetting process must include, but is not limited to, the review of the Renter's driving history (including excess points and accidents) and criminal background (including felony convictions). Failure to demonstrate sufficient and consistent adherence to this vetting requirement may result in the immediate suspension or termination of the Insured from the Program.
Rental Documentation and Audit:
- The Insured is required to accurately report, log, track, and securely store all rental transactions for the entire period of record.
- This complete rental data must be made readily available for audit and inspection upon request by the Program Administration or the Insurer in any capacity.
- The Insured must be able to provide a legally bound rental agreement documenting any covered rental period at any time requested by the Insurer.
Driver and Age Requirements:
- Driver Reporting: All individuals intending to operate a rental vehicle must be reported to the Insurer prior to the commencement of the rental period.
- Minimum Age: All rental drivers must be a minimum of twenty-five (25) years of age at the time of the rental.
Telematics Mandate: Every vehicle must be equipped with an approved telematics device capable of providing continuous, necessary data to the Insurer. This device must be active and transmitting data prior to the initiation of any rental period.
IV. Binding Procedures and Regulatory Filings
Method of Binding: All requests to bind coverage, or any subsequent requests for material changes to coverage, must be submitted in writing. Telephone requests to bind coverage shall not be accepted and will be considered null and void.
Regulatory Filing Compliance: Should the Insured's operations require any state or regulatory filings, the Insured must:
- Confirm this necessity in writing at the time of binding.
- Provide a verified copy of the operating authority documentation concurrently with the binding request.