Auto insurance will be unrecognizable as self-driving cars flood US roads

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These automated vehicles will remove 90 percent of the risk associated with driving a car. Self-driving cars may still be at their very earliest uses in certain very specific locations, but the auto insurance industry is already bracing for them. After all, these vehicles will change the nature of the need for coverage. As it appears that a substantial amount of the risk from driving will shrink, insurers are bracing themselves. At the moment, the first wave of self-driving cars come with astronomical premiums. A recent Bloomberg report pointed to…

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Self-driving cars could have a major impact on the auto insurance space

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Report highlights the disruptive potential of self-driving vehicles Self-driving cars may soon become a reality, and they could have a major impact on the auto insurance space. A new report from Moddy’s Investors Services suggests that there are many liability implications for those involved in the development of self-driving vehicles. Both manufacturers and technology suppliers could face significant risks, with consumers likely facing fewer risks as liability shifts away from them. This is because self-driving cars take human error out of the transportation space, which is likely to lead to…

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Nevada to regulate self-driving vehicles for the sake of consumers

Nevada has become the first U.S. state to begin regulating self-driving vehicles. Legislators have imposed new regulations that would develop new licensing procedures for companies producing these vehicles and those already being operated within the state. The hope is to ensure that the manufacturers of these vehicles will be held responsible for any accidents or mishaps that may happen during their time on the state’s roadways. Legislators claim that this accountability will help protect consumers as well as insurance companies. Last year, one of Google’s famous self-driving vehicles caused an…

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