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As someone who has multiple cars in my fleet, I can definitely relate to the host who had 15 cars insured with Lula for private rentals. Now, they’re scrambling to figure out how their insurance rates will change with the switch. Honestly, I’ve been in the same boat, feeling uncertain about how this is all going to play out for me too.
I’ve also read that Lula might have shut down because their claims rates were higher than expected and their premiums were too low. When I first heard about Lula, I thought they were filling a gap in the market, but now it’s clear they may have underestimated what goes into this kind of coverage, and that’s something I’ve been trying to watch out for as I evaluate options for myself.
I was shocked when I saw that Lula was charging $87 per month per vehicle for coverage that only allowed 300 miles of driving each month, with those miles needing to be rental-related. That’s really expensive compared to my own situation—I’m paying $80 per month for full personal coverage with unlimited miles and a $1,000 deductible. It really made me appreciate the deal I’ve got.
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