arun 2 Questions 0 Answers 0 Best Answers 45 Points View Profile -13 arun Asked: June 5, 20212021-06-05T06:35:02+00:00 2021-06-05T06:35:02+00:00In: Finance Topics How will self-driving cars affect the auto insurance industry? -13 How will self-driving cars affect the auto insurance industry? auto insurancecar insurancevehicle insurance Share Facebook Related Questions What is the minimum credit score required to get a mortgage loan? What are the downsides to doing a reverse home mortgage? What is a good home insurance company? What is the best health insurance in the US? What are the steps to creating an insurance company? 2 Answers Voted Oldest Recent bindu Bangalore, India 8 Questions 3 Answers 0 Best Answers 92 Points View Profile bindu 2021-06-05T06:39:32+00:00Added an answer on June 5, 2021 at 6:39 am I don’t think that’s realistic. We can’t even cover 100% of the world with WIFI. There will always be places where full autonomy just doesn’t work. Then people will drive their cars. Maybe the streets are safer. but Main Street still has that x-factor. Besides, my father doesn’t have a cell phone yet. He is the number one die-hard man on earth. Do you think you will buy an autonomous car? I say this partly as a joke and partly to show that many Americans are stubborn, selfish, and ignorant. Many people wouldn’t own a car. The “cabin system” would be cheap and efficient. It’s like a really good lease. Why be an owner? Companies that have their own vehicle fleet are self-insured (do not buy insurance, very often from large companies) or have their fleet insured by a large company. Scale would sell many smaller insurance companies. If I have a car and this car is self-driving and is “indebted” in an accident, who do I pay compensation to: me or the manufacturer of my car system? This requires lawsuits and attorneys (company funded) to resolve the bottom line, I think it will be the ultimate failure of the system builder, the driver will have the advantage. Accident rates are falling, insurance rates are falling. When car values go up, insurance rates go up. 1 Reply Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp jeevitha 1 Question 29 Answers 19 Best Answers 164 Points View Profile Best Answer jeevitha 2021-06-05T06:36:38+00:00Added an answer on June 5, 2021 at 6:36 am What is the best health insurance in the US? Some people at insurance think about it. I’ve spoken to researchers at State Farm, the largest company of its kind, and they are seriously considering it, even though the companies as a whole still haven’t got a full picture. With a fully autonomous car, the car will most likely be selling you with insurance. Most car accidents are likely to be blamed on the software, not the human occupant. The car seller needs insurance more than the owner. The owner needs some insurance (the usual fully comprehensive driver, as well as the uninsured driver, etc.) as they do today. The first cars will still be passable – we are a few steps away from a car without a steering wheel and they will operate them at least part of the time, so you still need insurance for that, most of the time you won’t be driving should you be able to Having cheaper insurance on hand aside from your reduced ride but on the other hand this could be one of the riskiest rides (e.g. can’t handle. The goal is for cars to have lower accident rates than humans, ideally much lower, as long as (and that’s a big yes) the damage attributed to those accidents is similar to the damage attributed to man-made accidents, the insurance cost will be lower than the current cost paid for human driver insurance and therefore convenient to combine with the car. Bigger auto companies are insuring themselves, and that’s bad news for businesses. Big insurance companies and survival technologies are already reducing the number of accidents. A few years ago there were 44,000 motorists killed; in the United States there are now 33,000, and the trend is falling. As these systems reduce the number of accidents, insurance companies will find their market shrinking before the robots arrive. However, there are other things that need to be ensured. -3 Reply Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Leave an answerLeave an answerCancel reply Featured image Select file Browse Save my name, email, and website in this browser for the next time I comment.