Section 32-15A-5

(a) An authorized insurer that underwrites motor vehicle liability insurance in this state may exclude any and all coverage and the duty to defend or indemnify for any claim afforded under a shared vehicle owner’s motor vehicle liability insurance policy, including, but not limited to, all of the following: (1) Liability coverage for bodily injury and property damage. (2) Personal injury protection coverage. (3) Uninsured and underinsured motorist coverage. (4) Medical payments coverage. (5) Comprehensive physical damage coverage. (6) Collision physical damage coverage. (b) Nothing in this chapter invalidates, limits, or restricts any of the following: (1) An exclusion contained in a motor vehicle liability insurance policy, including any insurance policy in use or approved for use, which excludes coverage for motor vehicles made available for rent, sharing, hire, or for any business use. (2) An insurer’s ability under existing law to underwrite any insurance policy. (3) An insurer’s ability under existing law to cancel and nonrenew policies.