Two good points here. Self driving cars will completely take over most, if not all, driving duties sometime in the future... probably within my lifetime. This will be aided, in part, by insurance companies making it far too expensive to drive a vehicle because of human error risks, the other part will be federal laws. I will not be happy about this but many people far younger than I won’t mind at all.
All very sad but true.
Unfortunately so many of the younger people actually embrace computers and machines taking over. Taking over is the negative term but they welcome yhe speed and convenience in their lives and they don't feel the need to do things for themselves or to be in control that much. Control to them is using their phone to Tap a button to get results.
As I said before about self-driving cars being aligned like a train just able to deviate when one vehicle needs to go to a separate location, mark my words insurance will also change. Not as much that they will make it too expensive to drive normal cars but eventually we will be demonized and and called Old Death traps on the road because we will be looked at as a danger.
But think about car services and such. If people stop owning cars or stop driving them themselves there will be no automobile in your driveway to pay a thousand or two to $3,000 a year for insurance for multiple cars like we do now.
Do you think insurance companies can just simply do without all this money coming in?? Heck no! They will have to find ways to adapt and they are probably doing it right now trying to see how they have to use all their lobbying power to manipulate the laws to make it beneficial to them.
I have always said Insurance should be on the person and not on the car. It makes me mad to have to spend more money for insurance for cars that I rarely even drive. And I think we will end up with individual policies.
Not that you would actually need them because if you're using an auto driving Google car service then they would be having the liability and carrying the liability but there will certainly be some sort of presidents or some sort of law that goes into effect 4 people will need some sort of extra Gap coverage and this is where they will sell individual policies.
Maybe that will be a sweet spot for you can buy a low-cost supplemental policy and it will cover you in any time you're riding in a self-driving car if you need it and also will cover any normal driving cars that you have. This could actually lower some of our cost per year for insurance.
I realize a lot of times the full coverage is the most necessary part and sometimes a quite expensive part of a policy. I rarely have full coverage on any of my cars because I keep older things. Having said this though, on older cars the comp and collision is absolutely Dirt Cheap compared to what would be on a newer car. With some companies it's a no-brainer to go ahead and pay the very very small amount more to have it covered.
You must also realize that they're not going to fix your car if it's 15 or 20 years old no matter how nice it was. They are going to Total it. Because the value is not worth anything according to them and their book values. Unless it's a classic and you have it insured with Haggerty for a set amount. Basically, you still win though because if you have a 19 year old Expedition that's in awesome shape and you record without full coverage you get nothing if it's your fault. If you wreck it with full coverage at least you get to fight with them for a while and get somewhere between 1100 and $1,600 from them. This either let you fix it if you do a fix it yourself deal or go buy another one.
It will certainly be interesting and probably annoying and very maddening to see what happens the future but we can all bet that big things are going to change quickly.