How Will Driverless Cars Affect Car Insurance?

How Will Driverless Cars Affect Car Insurance?

Driverless cars aren’t just for sci-fi fanatics anymore. In fact, elements of the technology—such as park assist and collision avoidance systems—are already commonplace on many cars. However, full-fledged autonomous vehicles pose a number of challenges to the status quo, from state laws to insurance coverage. What possibilities can driverless cars offer? How close are they to becoming a reality? And what will have to change before they do?

Google’s self-driven vehicle software, Google Chauffer, is among the most publicized. The company’s redesigned Prius has logged more than 500,000 autonomous miles without a single accident. Traditional carmakers are also getting in on the action. Nissan and Toyota are pursuing the technology, and Ford and General Motors have partnered with teams of faculty and students at the University of Michigan and Carnegie Mellon University to advance research. Carnegie Mellon’s autonomous Cadillac SRX has made a 33-mile trip. Michigan’s Transportation Research Institute is experimenting with networked autonomous vehicles, hoping to create a fleet for public use.

Read more : https://www.nerdwallet.com/blog/insurance/driverless-cars/