[UPDATE, March 13, 2023: Twisted Road founder and CEO Austin Rothbard reached out to inform us that Twisted Road's damage coverage amount has been raised to $40,000. (It was previously listed as $25,000 on the company website.) The Twisted Road section has been updated to reflect this new information.]
Original piece follows.
Are you thinking of using a peer-to-peer motorcycle rental service? Whether you’re thinking of renting out some of your motorcycles to other riders, or you’re thinking of signing up to rent a bike from another rider for an upcoming trip, you may have some important questions you want to know the answers to before you commit.
The biggest question you might have is about insurance. In 2023, in the U.S., there are currently two major providers of peer-to-peer motorcycle rentals operating within our borders: Riders Share and Twisted Road. Let’s take a look at each of them and see how their insurance policies work.
At the time of writing, Riders Share states that it provides damage protection plans for owners over the entire duration of the rental term, up to $30,000. Owners are required to take photos of the bike both before and after each rental term, so that RS can determine whether there was pre-existing damage after a bike has been returned to its owner.
Owners registering their bikes with Riders Share may select from three insurance options: Standard (30 percent), Premium (40 percent), or Commercial (15 percent). If an owner chooses Standard coverage, transactions are covered by Riders Share’s general liability protection policy of up to $300,000, as well as for comprehensive and collision coverage of up to $30,000. This coverage also meets all state minimum requirements for third-party liability, as well. Owners who reach (and maintain) Power Host status with Riders Share will have this rate reduced to 25 percent.
Premium insurance offers all the benefits of Standard insurance, and also covers mechanical breakdown coverage and loss of use coverage for up to 14 days. Finally, Commercial insurance comes into play if you already have an existing commercial insurance, liability protection, and roadside assistance policy for your vehicle. If those things are true, then you can opt to decline coverage through Riders Share.
Riders Share advises all users, owners, and renters of bikes on the platform to retain their own personal insurance tailored to meet their individual needs. Be advised that Riders Share’s coverage provides protection only during active rental periods, and may not offer coverage during drop-off or delivery periods. Additionally, Riders Share’s insurance information defines a “motorcycle” as being “a two or three wheeled vehicle that is powered by a motor and has no pedals.”
At the time of writing, Twisted Road states that it provides coverage for all riders and owners who participate in the rental of bikes on its platform—including international travelers.
For owners, Twisted Road states that it covers damages that occur during rental periods for collision, up to the actual cash value of the bike (or $40,000). Additionally, owners who list with Twisted Road have up to one million dollars in liability insurance.
For riders who rent bikes on Twisted Road, insurance during the rental period covers you for up to $40,000 of motorcycle damage incurred in a crash. Renters are also covered for minimum state liability automatically, but have the option to purchase up to one million dollars in additional coverage if they wish.
Finally, for international travelers, Twisted Road states that it offers both damage and liability insurance in the event that anything happens while you’re renting a bike using the platform, as long as you can prove that you’re legally allowed to ride a motorcycle in your home country.
Twisted Road lists three insurance options as of February, 2023. Minimum coverage offers state minimum liability insurance, which will vary based on the state where you’re renting. It also covers up to $40,000 of damage coverage, and offers a $2,500 maximum out-of-pocket cost for damage. Meanwhile, Standard coverage offers $40,000 of damage coverage, along with a $2,000 max out-of-pocket cap for damage and $5,000 max for theft.
Finally, Premium coverage with Twisted Road consists of up to one million dollars in liability insurance, $40,000 of damage coverage, and a $1,000 max out-of-pocket cost for damage and $2,500 max for theft.
Sources: Riders Share, Twisted Road