Plain English Breakdown
The effective date is not provided in the official metadata, so it remains unknown when these rules start applying.
Insurance Rules for Personal Vehicle Sharing
This law changes how much insurance car-sharing programs must provide and limits their responsibility to amounts agreed upon with vehicle owners, unless the owner commits fraud or helps a driver keep the car.
What This Bill Does
- Requires sharing programs to pay for injuries or property damage up to amounts listed in their agreement with the owner, instead of taking full responsibility as if they owned the car.
- Sets minimum insurance limits at $250,000 for one person's injury or death, $500,000 for all persons injured or killed, and $100,000 for property damage.
- Removes these protections if a vehicle owner makes an intentional or fraudulent statement to the sharing program before the car is shared.
- Removes these protections if an owner works with a driver who does not return the shared vehicle as agreed.
Who It Names or Affects
- Personal vehicle sharing programs
- Owners of private passenger vehicles used in sharing programs
Terms To Know
- Liability
- Legal responsibility to pay for injuries or damage caused by an accident.
- Personal Vehicle Sharing Program
- A service that allows private car owners to let other people drive their vehicles for a time period.
Limits and Unknowns
- The official text does not state the exact date this law will become effective.
- The bill mentions specific dollar amounts but does not explain how these compare to current insurance costs for regular drivers.