Self driving cars receiving technology upgrade to reduce winter auto insurance claims

winter driving self driving cars

The driverless vehicles are being designed to be able to make their way safely along snowy roads. While self driving cars may be the direction the industry will be taking in the future, winter storms and snowy roads continue to be as much of a threat of auto insurance claims for those cars as the ones driven by people. Driverless vehicles currently operate best in cities with clearly marked streets and lanes. Though self driving cars have been performing quite well in their testing phases, they have been developed for…

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Auto insurance premiums in the U.S. may slide with driverless cars

auto insurance premiums accident

As autonomous vehicles roll out – and as that continues into the future – coverage rates will plummet. A new report from Aon Benfield addressed auto insurance premiums in a world of self driving cars. It examined the insurance rate trends that will occur with the expected increasing popularity of autonomous vehicles. The report suggested car owners will be paying a lot less for coverage when cars drive themselves. The predictions are that the “industry pure premiums” will fall a full 20 percent from last year through 2035. This forecast…

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Warren Buffett’s insurance industry forecast might surprise you

Insurance Industry Forecast by Warren Buffett of Berkshire Hathaway

According to the head of Berkshire Hathaway, insurers should worry about self-driving cars, not climate change. At the Berkshire Hathaway shareholder meeting last weekend, Warren Buffett shared his insurance industry forecast and brought up a number of trends and innovations that have been the topic of conversation among experts in this arena. The main point that has drawn the spotlight is that Buffett doesn’t feel climate change will harm the industry. According to the insurance industry forecast he shared, climate change shouldn’t be causing any pain to his business. This…

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Self-driving cars expected to disrupt the auto insurance market

Self driving car auto insurance

Autonomous vehicles predicted to have a severe impact on the cost of auto insurance Autonomous vehicles could have a major impact on auto insurance premiums in the future. While these vehicles are not yet readily available, insurers already see the potential disruption self-driving cars could have on the market. Self-driving vehicle take human error out of the equation, which is expected to significantly cut down on the number of accidents that are seen on the roads every year. This will lead to a dramatic decrease in auto insurance premiums in…

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Self-driving cars could lead to lower auto insurance premiums

auto insurance ride share

Insurance premiums could fall significantly due to automated vehicles Self-driving cars could help save motorists money on auto insurance coverage, according to insurance startup Metromile. The company has released a new report that suggests that drivers could save as much as $1,000 a year on coverage due to automated vehicles. These cars could cost as little as $250 a year to insure, and they may serve as a disruptive force for the auto insurance industry in the coming years. Self-driving cars are not subjected to human error in the same…

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Self-driving cars could lead to the end of the auto insurance industry

google building auto insurance

Automated vehicles could be a significant risk for insurers, but not in the traditional sense Automated driving could place the auto insurance industry at risk, at least to some degree. Self-driving cars are already a reality, but such vehicles are currently only available for testing purposes. These vehicles are praised as being safer than their conventional counterparts, largely because they are not operated by humans. Human error is the leading cause of most car accidents, and removing people from the driving equation could have a major impact on the auto…

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Insurance news about self-driving cars will be hard to predict

Driverless self-driving car Google auto insurance

As Google’s driverless vehicles start to hit the spotlight, coverage for owners has become a major question. The next wave of insurance news over a brand new industry that will need coverage that is unlike anything else that the world has ever seen, is now attracting some serious attention as Google’s self-driving cars are becoming increasingly “real”. Auto insurers are now starting to take these driverless vehicles much more seriously, as they’re on their way. According to an insurance news statement made by PricewaterhouseCoopers in a report that was published…

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Driverless cars may be a problem for the auto insurance industry

auto insurance car transportation hybrid

Self-driving vehicles need legislative attention Driverless vehicles could be a disruptor for the auto insurance market, but they will have to overcome several legislative hurdles before they can do so. When it comes to the law, self-driving cars become a very complicated matter. For instance, when such a car is involved in a collision, where the blame can be placed for the incident can be difficult to determine. This is something that auto insurance companies and lawmakers are grappling with. Insurers are forming a better understanding of self-driving cars and…

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Auto insurance for self-driving vehicles is a hot topic in California

Self driving car auto insurance

State regulators are beginning to show more attention to insurance issues involving automaked vehicles Self-driving cars could become more common in the future and this may have an impact on auto insurance. The California Department of Insurance is advising the state’s insurance companies to prepare for the eventual proliferation of automated vehicles. Insurance Commissioner Dave Jones has been gathering data about these vehicles and the technology behind them, hoping that insurers will use this data to adapt more quickly to a future where drivers are a thing of the past.…

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