On Sep. 5, CAL LEG passed bill on insurance for vehicle sharing.
CAL LEG passed bill AB 2743, relating to insurance for personal vehicle sharing programs; amends CAL INS 2-3-1-2-11580.24 and adds CAL INS 2-3-1-2-11580.241
Bill Provisions
Requires a personal vehicle sharing program to provide insurance coverages for the vehicle and operator at a minimum of $45,000 for bodily injury or death for 1 person.
$90,000 for bodily injury or death for all persons, and $15,000 for property damage.
Also requires that on and after Jan. 1, 2031, program to provide liability coverage at least 3 times the minimum insurance requirements for private passenger vehicles.
Personal vehicle sharing program to disclose to a vehicle owner specified information.
Information includes minimum mandatory coverage and limits that the personal vehicle sharing program is required to provide and the coverages and limits provided.
Specified information disclosed in writing, including that the vehicle owner’s personal automobile insurance may expressly exclude coverage for the vehicle while shared.
A violation of these requirements would make person liable for specified civil penalty.
Legislative History
On Feb. 15, 2024, bill introduced in Assembly; on May 9, 2024, passed Assembly.
On May 9, 2024, bill was introduced in Senate; on Aug. 26, 2024, bill passed Senate.
On Aug. 27, 2024, amendment concurred; on Sep 5, 2024, enrolled, sent to Governor.
Effectiveness
If approved, bill takes effect on Jan. 1 of the year after bill enactment, Jan. 1, 2025.
Sep. 14, 2024 CAL LEG Governor Approval
On Sep. 14, 2024, CAL LEG governor approved bill AB 2743, became Chapter 244.
