INDIANA'S NEW PEER-TO-PEER CAR SHARING LAW
During the 2019 Indiana state legislative session H.B. 1362, a peer-to-peer car sharing bill, reached Indiana Governor Eric Holcomb’s desk and was signed into law.
What does this mean for those who use Turo in the Hoosier State?
In general, the legislation creates a whole new section of law devoted to peer-to-peer car sharing, with specific requirements and consumer protections designed especially for this new industry. This matters because brand new industries often don’t fit well into existing regulations. By blazing this trail, Indiana leads the way in recognizing peer-to-peer car sharing and properly regulating it.
For Turo hosts, the new law sets a threshold of insurance that Turo must provide you. Good news is that Turo has always provided up to $1 million in liability coverage, far exceeding the new law’s requirements.
Turo guests in Indiana may see some new taxes on their reservation. A hotly debated topic this year, but one that recognizes that peer-to-peer car sharing and rental car companies are fundamentally different, and that P2P car sharing transactions should be taxed at a much lower level than the rental car industry. Recall, Turo hosts don’t receive a sales tax exemption when buying their cars, unlike the rental car industry.
The law is a positive step forward for the citizens of Indiana who wish to utilize peer-to-peer car sharing platforms such as Turo. Thanks to Indiana and Representative Eberhart for taking a step in the right direction and standing up for empowering peer-to-peer car sharers in Indiana.