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3 ways a self-driving car will affect the car insurance industry

3 ways a self-driving car will affect the car insurance industry

The emergence of self driving cars is bringing changes to the automotive industry, and the insurance industry will no doubt be affected . Below are 3 ways self-driving cars and AI will affect car insurance.

1. Car makers will assume insurance liability

When an accident occurs without human driver’s involvement, who is responsible for damage ,the owner or the manufacturer?

There is an argument that the car manufacturer should be liable.

Most experts assume however that many litigation will take place before the precedent is set and calm things. There may also be a need for a broad tracking sensor in the vehicle to determine whether the driver of man or AI is wrong in an accident before the car maker will bear full responsibility for the crash.

2. Car Insurance premiums will drop

Experts predict that when self driving cars have been reasonbly perfected it will eventually ,there will likely be a downward trend in accidents. That’s a great thing, because an astonishing 37,000 people are killed in road crashes every year in the United States alone

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Advanced Driver Help Systems (Adas) becomes commonplace, and they show significant potential to reduce crashes. It will be increasingly common because technology becomes cheaper and older vehicles are replaced. In 2025, as much as for these features, but because the effects of increased safety became clear, insurance companies need to reduce premiums or risks cut by competitors.

3. The Car insurance industry may struggle for drop in coverage

Some experts have predicted that as cars become safer states may drop mandatory coverage .

As AI-enabled cars become more commonplace, insurance companies will need to reevaluate how this tech will impact their industry

The industry has ample time to research and make changes accordingly.

The results of this changes are geared towards a gross reduction in coverage. However these are still speculations at this point.

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