CA AB2743

Requires personal vehicle sharing programs to provide minimum liability insurance coverage of $45,000 per person, $90,000 per accident, and $15,000 property damage (or 3 times the minimum private passenger vehicle requirements starting January 1, 2031).

Mandates written disclosure to vehicle owners and operators regarding insurance coverage limits, gaps, exclusions, and the option to purchase additional coverage beyond the minimum requirements.

Requires vehicle owners to be notified in writing that their personal auto insurance may exclude coverage during personal vehicle sharing and that coverage denial may occur if annual sharing revenue exceeds annual vehicle expenses.

Establishes civil penalties of up to $5,000 per violation (or $10,000 if willful) for personal vehicle sharing programs that fail to comply with insurance and disclosure requirements.

Prevents vehicle owners' auto insurance policies from being canceled solely because the vehicle participates in a personal vehicle sharing program that meets compliance standards.