Existing law generally regulates classes of insurance, including automobile liability insurance. Existing law prohibits classifying a private passenger motor vehicle as a commercial vehicle, for-hire vehicle, permissive use vehicle, or livery solely because its owner allows it to be shared, if specified criteria are met. In the event of a loss or injury that occurs during any time period when the vehicle is under the operation and control of a person other than the vehicle owner, existing law requires the personal vehicle sharing program to assume all liability of the owner and is considered the owner of the vehicle for all purposes.

Existing law limits the liability of a private owner to the amount of $15,000 for the death of or injury to one person in any one accident and, subject specified circumstances, $30,000 for the death of or injury to more than one person in any one accident, and $5,000 for damage to property of others in any one accident.

This bill would, instead of requiring a personal vehicle sharing program to assume all liability of the owner, require the program to assume liability of the owner for bodily injury or property damage to injured third parties resulting from personal vehicle sharing in amounts stated in the personal vehicle sharing program agreement, in amounts not less than the $15,000, $30,000, and $5,000 described above.