How Does Crash Avoidance Technology Play a Role in Auto Insurance Rates?
You’ve probably heard about all the vehicles that are now coming out with automatic braking and cameras among other new technologies, but what you may not realize is that crash avoidance technology may not lower your car insurance.
The glitz and glam of these new technologies have been a huge topic of conversation in the auto and insurance industries, but as of yet they have had no effects on auto insurance rates. One of the biggest issues that come along with new safety features is that they are expensive to repair in the event of an accident. So where is the tradeoff? The systems may help deter accidents and consequently injuries, but not everyone may be able to afford repairs and oftentimes some safety systems don’t always work properly in the dark and in bad weather.
Many new cars are implementing sensors that can detect collision and driverless cars are more a reality than you may realize. While this may change the face of driving as we know it- we haven’t yet seen it have an effect on insurance rates. Driving may be becoming safer and safer, but that does not mean that auto insurance will become obsolete. Accidents will likely still occur and we have to remember that while technology may be improving, humans still make mistakes and they are still a part of the driving process.
It will be interesting to see as time goes on and the technology improves how much of an effect these safety systems will have on drivering and if it has an effect on auto insurance rates. Remember, it’s important to always know if and how you’re covered under car insurance so that you can protect yourself and your assets. Click here to learn more about crash avoidance technology and general auto insurance.