Virginia law requires peer-to-peer vehicle sharing platforms to have an insurable interest in shared vehicles during the sharing period and to maintain specific insurance coverage. Additionally, these platforms must collect, verify, and retain detailed records of vehicle use, driver identity, fees, and revenues for at least five years, and provide these records upon request for insurance and legal purposes.
It means the platform has a legal stake in the shared vehicle during the sharing period and must maintain appropriate insurance coverage.
The platform can own policies covering liabilities under sharing agreements, owner and driver liabilities, and damage or loss to the vehicle.
They must record driver identity, usage times and locations, fees paid, and revenues received, and retain these records for at least five years.
Shared vehicle owners, their insurers, or the driver's insurers can request these records for claims, investigations, or legal proceedings.