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The Benefits Of Having A Driverless Car: The New Insurance Policy

Lets talk about insurance premiums for the future's premium cars

13Jun

Car accidents leading to injuries and even death - this is the unfortunate consequence of so many people driving on the road. As a result, auto insurance companies find themselves paying the claim at the end just because a disaster took place due to another human being's negligence. So the question is, how can we solve the cases of so many accidents and put an end to the excessive amounts of financial 'rescuing' that insurance companies do? The answer has already been made a reality: driverless cars. 

Brian Fung, author of This company just solved one of the thorniest problems for driverless cars, for the Washington Post, explains that there is a special insurance policy being offered in Britain for both autonomous and partly automated cars. This remarkable new policy will protect against all of the common things that are found in the traditional human driver's policy such as damage, fire, and theft. In addition, if the car's system happens to malfunction, the policy offers accident coverage. 

What is a driverless car?

We just jumped into talking about driverless cars without stating exactly what it is and how it works. So what is this unfathomable driverless car anyway? It is a robotic vehicle that drives from destination to destination without a human having control. Driverless cars' automated system knows when to go or stop, and keeps its concentration on the road, unlike human drivers who are prone to causing car accidents. Now, to answer the second question of how it works. The driverless car possesses an array of 32 or 64 lasers, allowing it to measure the distance to objects in order to build up a 3D map at a range of 200m, giving the car the ability to see hazards that are in the way. These extraordinary vehicles also contain a standard camera that points through the windscreen, which spots nearby hazards such as pedestrians, cyclists, and other motorists, in addition to reading road signs and detecting traffic lights.

Safety of having a driverless car

According to Association For Safe International Road Travel, nearly 1.3 million people die in road crashes each year, which on average is 3,287 deaths a day, and 20-50 million individuals are injured or disabled. In addition, the institute informs that road traffic crashes rank as the ninth leading cause of death and account for 2.2% of all deaths globally (2002-2016). These statistics are extremely heart-breaking. People young and old are losing their lives because of other careless human beings. One potential answer to decreasing these depressing figures is driverless cars. With the removal of human control, without doubt resulting in a decline in mistakes on the road, driverless cars could be the key to saving lives.

Benefits of Autonomous Cars

Lower car insurance premiums - In Brian Fung's article, it is implied that vehicle automation is the reason that cars are safer and more efficient. Because they prevent accidents including rear-ending the person in front of you and keeping you from side-swiping your neighbor if you start drifting out of your lane, automated car owners can benefit from lower premiums. 

Safety Features - This goes back to how the driverless car operates. Again, its lasers and standard cameras allow driving to be safer. The driverless car accesses the ability to prevent accidents because of its automated systems. 

Brian Fung puts emphasis on the estimate of people that are expected to die in car crashes this year caused by humans, and how driverless cars with its quick-reacting computers that can make smart decisions can cut this approximation substantially. Consequentially, insurance premiums will dramatically decrease. Who wouldn't want that?

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