Driverless cars could be a risk for the auto insurance sector

driverless cars

Insurers suggest that self-driving cars could disrupt the insurance market in the future Driverless vehicles have reached a major milestone. Three auto insurance suppliers and an auto parts manufacturer have included driverless cars in their annual reports concerning securities. In these reports, the companies noted that self-driving vehicles are a risk, which could eventually disrupt their business. The reports highlighted the technology behind these vehicles, which could become a major force in the auto insurance space. Companies are noting that driverless vehicles represent a significant risk in the future, but…

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Auto insurance may experience a paradigm shift because of driverless cars

Google driverless auto insurance news discount

Driverless cars could have a major impact on auto insurance coverage and how companies protect drivers and their vehicles Driverless cars may soon be quite common on the roads, and this could have a major impact on auto insurance coverage. According to Allstate CEO Tom Wilson, there will be an ongoing debate over insurance coverage for driverless vehicles for years to come. Currently, there are precious few driverless vehicles on the roads, with Google being one of the only companies in the world to apply such a vehicle in a…

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Auto insurance fraud may be put to rest by driverless vehicles

Auto Insurance

Driverless cars could be a powerful weapon against auto insurance fraud Auto insurance remains a problematic issue throughout the U.S. Fraud is quite common in this sector, especially in states like New York and Florida, and modern efforts to combat fraud on a legislative level have proven fruitless. The prevalence of fraud is causing auto insurance costs to skyrocket throughout the country, putting more pressure on lawmakers to find a way to crack down on fraud before costs begin to spiral out of control. The solution may be as simple…

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Driverless Cars Bring Uncertainty to the Car Insurance Industry

Google driverless auto insurance news discount

Most of the time, we don’t need need to think about car insurance. Every now and again accidents occur, forcing drivers to break out those little-used plastic cards for an information swap. It’s how we hold each other accountable on the road. But what if drivers didn’t control their cars’ actions? Talk of futuristic “driverless” cars has insurance companies scratching their heads. Expected to reduce accidents and increase accessibility, driverless cars are one of the latest technologies being developed, according to Mercury News. These motorized cars are already being tested on the…

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Auto insurance industry may face the advent of driverless cars

Self driving car auto insurance

Report shows the rise in popularity of self-driving vehicles amongst automakers Self-driving cars may have a powerful impact on the auto industry, according to a new report from the Center for Automotive Research (CAR). The report shows that the auto industry is on the verge of commercializing self-driving vehicles, suggesting that the first of these could be seen en masse beginning in 2019. While self-driving vehicles may be the wave of the future for the auto industry, the y could have serious implications for the auto insurance industry, especially if…

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