Why has my renewal price increased?
Due to the increased costs of vehicle repairs, our physical damage premium has increased too. The good news is we have lowered our auto liability premium (except in DC, MI, and NY) to help offset this.
What is the cost to start the policy?
Each vehicle requires a $100 refundable deposit to start coverage. Each month we’ll send an invoice for your prior month’s policy activity. If your payment is returned or if you choose to cancel your policy, we will use this deposit to cover any outstanding costs or return it to you if there are none.
Do I have to use the trackers listed on the policy? I already have my own devices.
Yes, you will need to use one of our two approved third-party devices. We have API’s with these these device companies to receive tracking information required for the Period X™ program
Can I change the coverage that is quoted? What about the deductible?
Period X™ is a national program. The coverage and deductibles that are quoted are fixed and cannot be changed.
Do I need to add all drivers who will be moving my vehicles to the policy? Is there an additional cost?
Yes, all drivers who will be moving vehicles when not-rented must be listed on the insurance policy. You are able to add drivers 24/7 via our portal. The only cost would be for the motor vehicle record. Drivers are either acceptable or unacceptable. All drivers must have a valid US license.
Why can’t I just use my personal insurance?
Personal insurance excludes commercial coverage. Once you start renting out your vehicle for a fee, you use it commercially. Your personal insurance company can cancel your policy if they find out you are renting your vehicle.
How else is Period X™ different than personal insurance?
Period X™ allows you to create an LLC or Corp to protect your personal assets against your business operations.
Can I rent my car direct to someone?
No, direct rentals are strictly prohibited. If you rent your vehicle outside of an approved platform and there is an accident, the accident may not be covered. Rental contracts require certain insurance coverage that Period X™ and personal policies don’t provide.
How many vehicles can I have and is there a discount for having more vehicles?
There is no limit to how many vehicles you can have on the policy. Unfortunately there is no discount for having more vehicles on the policy at this time. If you have a fleet over 250, contact your agent to see if we can quote you outside of this program.
Are the device costs included with the insurance?
No. The device costs are outside of the insurance cost. Please contact the device company directly for exact pricing.
What if I need to use my vehicle for personal use over the 250 mile per month limit?
The Period X™ program is meant for vehicles that are primarily rented out on third party rental platforms. If you use the vehicle over 250 miles your policy may be subject to cancellation.