Self-Driving Cars Can Cut Down Your Insurance Costs

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A study conducted by Aon data states that self-driving cars will bring down insurance costs in the future, because of autonomous cars there will be fewer accidents or close to nil, and the end result will be reduced insurance premium.

The Global Insurance Market Opportunities report states that even though the rate of growth of self-driving cars is slow, there will be enough autonomous cars on US roads by 2035. And this will be enough to cut down insurance premium by 20 percent, and if self-driving cars becomes the daily norm by 2050, then the insurance premium will be 40 percent down.

Even though autonomous cars are set to take centre stage in future, recent studies reveal that people are still not ready to embrace the advantages of new technology. According to a survey from JD Power conducted on 7,900 US adults, only 56 percent of young drivers were ready to switch to autonomous cars.

The main reason behind this is, there is no clarity on what will be the role of driver in a autonomous car, a strict do's and dont's in a driverless cars should be listed out to solve this problem. Whatever may be the issue, but autonomous technology is very promising in tackling problems which will worsen by the days pass on.

Read more on: #auto news
Story first published: Wednesday, September 14, 2016, 15:48 [IST]
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