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Auto insurance costs may drop with autonomous vehicles

Indiana residents who are concerned about their safety and the safety of those they love when on the roads may well be watching closely as automakers and technology giants continue to evolve autonomous vehicle technology. Among the many benefits of and reasons for adopting these types of vehicles is the alleged improvement in safety that may result from letting computers rather than people operate vehicles.

Whether or not americans are ready to hand over their keys and their driving freedom to computers yet remains to be seen but as this potential industry evolves, many other things may be called into question or may also change. One of these is how insurance might work. There are no specific regulations or requirements related to what type of insurance people with self-driving vehicles might have to carry someday.

Some people have indicated that a reduction in insurance premiums may eventually result if enough drivers adopt self-driving vehicle technology. This is believed to be a possibility because of the intended reduction in accidents and therefore in claims. As insurers pay out less money for repairs and liability, they may not need to charge as much up front. This may be something consumers will want to watch.

Indiana residents who are involved in any type of accident regardless of the vehicles involved might find it helpful to talk to a lawyer to learn how to best navigate the insurance claims process.

Source: The Drive, "Warren Buffet Says Self-Driving Cars Could Hurt Auto Insurers," Steven Edelstein, May 8, 2017

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