Bill > S05941

This bill amends New York state law to standardize insurance requirements for peer-to-peer car sharing programs, which are services that allow individuals to rent their personal vehicles to other drivers through a digital platform. The bill requires peer-to-peer car sharing program administrators to maintain insurance coverage that is three times the financial responsibility requirements set by state vehicle and traffic law. It removes previous requirements for additional insurance coverage and instead mandates that administrators either provide additional liability insurance or offer vehicle owners and drivers the opportunity to purchase supplemental coverage. The legislation also requires these programs to disclose specific insurance details in their rental agreements, including coverage limits, exclusions, and the availability of additional insurance options. The insurance provisions aim to ensure that both vehicle owners and drivers are adequately protected during car-sharing periods, while providing clear information about the extent of insurance coverage. The bill will take effect 180 days after becoming law, giving car-sharing companies time to adapt to the new insurance requirements.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5941