Bill > S2999

This bill, titled the "Peer-to-Peer Car Sharing Act," establishes regulations for companies that connect vehicle owners with drivers for short-term rentals, known as peer-to-peer car sharing programs. Key provisions include requiring these programs to assume primary liability for bodily injury, property damage, and uninsured/underinsured motorist claims during the "car sharing period" (the time a vehicle is rented), up to minimum coverage amounts for private passenger vehicles. The bill also mandates that these programs take primary responsibility if there's a dispute about who was in control of the vehicle at the time of an incident. Furthermore, it allows for exclusions in a shared vehicle owner's personal auto insurance policy for claims arising from peer-to-peer car sharing, meaning the program's insurance will cover these situations. The act also imposes recordkeeping requirements on car sharing programs regarding vehicle use and mandates consumer protection disclosures, such as clear information on daily rates, fees, and any insurance costs. Additionally, programs must notify vehicle owners if their car has a lien against it, as using a vehicle with a lien for car sharing might violate the loan agreement. The bill also clarifies that these programs are exempt from certain vicarious liability laws based solely on vehicle ownership and sets requirements for driver eligibility and record-keeping. Finally, it addresses safety recall procedures for shared vehicles and grants the Commissioner of Banking and Insurance the authority to create necessary rules and regulations.

Business and Industry

https://www.njleg.state.nj.us/bill-search/2024/S2999