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?
- Anonymous3 years agoFavorite 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.
- AdamLv 53 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.
- STEPHENLv 73 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.
- WhoLv 73 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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- GertLv 73 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.
- AnonymousLv 73 years ago
Insurance is still a legal requirement. Also, insurance companies crunch their numbers to compensate for the risk.
- JetDocLv 73 years ago
Not in YOUR lifetime, Skippy... You will NEVER see a time when there are 100% computer driven cars on the road.
- ScottLv 73 years ago
? Someone owns that car. And if that person wants that car on the road, they will have to pay insurance premiums.
- Anonymous3 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.
- Anonymous3 years ago
No, you would still need insurance if you get injured or if the person the car hit's gets injured.