How will car insurance companies make money when self-driven cars are here?

Those cars are going to be designed not to crash. What will car insurance companies do? Will they go bankrupt?

20 Answers

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  • Anonymous
    3 years ago
    Favorite Answer

    Not going to happen. Insurance would still be required. Think about it, they aren't supposed to crash, so the insurance companies will rake in the premiums and pay out fewer claims.

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  • Adam
    Lv 5
    3 years ago

    Self-driven cars are far from perfect. There's plenty of work left to do with them. I think the insurance companies have several decades yet before we get anywhere close to a "perfect" self-driven car.

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  • 3 years ago

    There have already been crashes where self-drive cars have been at fault. The insurance companies don't have too much to worry about.

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  • Who
    Lv 7
    3 years ago

    they charge premiums based on the risk there is gonna be a claim

    anything made can break - when a self driven car breaks its likely to crash, if the "owner" wants to insure against the costs of the damage it causes then he takes out insurance

    The premium he pays will depend on what the insurance company decides based on its assessment of the risk of it breaking and the damage its likely to cause

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  • Gert
    Lv 7
    3 years ago

    Crashes aren't the only way a car is damaged. And it would only be a problem if EVERYONE had a self-driven car.

    • Robsteriark
      Lv 7
      3 years agoReport

      Even then the software cannot account for every situation and experience shows there are always bugs and hackers to deal with. There will always be crashes even if everybody has a robotic car.

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  • 3 years ago

    Insurance is still a legal requirement. Also, insurance companies crunch their numbers to compensate for the risk.

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  • JetDoc
    Lv 7
    3 years ago

    Not in YOUR lifetime, Skippy... You will NEVER see a time when there are 100% computer driven cars on the road.

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  • Scott
    Lv 7
    3 years ago

    ? Someone owns that car. And if that person wants that car on the road, they will have to pay insurance premiums.

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  • Anonymous
    3 years ago

    They are "designed" not to crash...

    But I bet they still will, and the lawsuits will be even bigger. Not to mention they can still catch fire, be stolen, crash because of mechanical defects like a tire blowout or brake failure, or have trees fall on them.

    So you will still need insurance.

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  • Anonymous
    3 years ago

    No, you would still need insurance if you get injured or if the person the car hit's gets injured.

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