1. AVs will be a blip, a very small blip, of all vehicles on US highways / roads / streets in 2025. Perhaps in 2050 AVs will represent 10%-15% of all vehicles on US highways / roads / streets.
2. As the % of AVs does grow, albeit the % will grow slowly, insurers should also consider offering Kidnap & Ransom insurance … to the manufacturers, distributors, and customers of AVs.
I think this is an area that will still need auto insurance more than ever, for the foreseeable future. I do not think most of the country – live outside of cities, will be part of a fleet, or will give up having a vehicle. If they do become part of the fleet, that would seem to create its own liability issues is a members gets into an accident.
What if we have smart computers (that can talk to each other), seeing an unavoidable accident, decides that people in one car are more important that the other car, so the other car is hit, occupants killed?
or, what if two people in a vehicle are having a discussion, or argument, and state something that the computer picks up as a command, and goes into oncoming traffic?
We will still have motorcycles, mopeds, RV’s, buses, etc. that will take time to become self driving.
The final thought, that we we would not need a personal auto insurance policy. Well, personally, if I am going up against Ford, Microsoft, or other companies, I would much rather deal with a more responsive company closer to home, my own policy. Imagine how cases will be tied up for years, while an individuals car has been totaled.
Also key, is a personal auto policy will be the only way a private passenger vehicle owner will be able to keep current with the laws of liability on the State and Federal level.
As we progress into this new wild west direction, the risks and unknowns are to great, with so many liability exposures that will be exposed, I see that, potentially, physical damage rates may go down, however liability will increase. The State or Federal government will be involved simple because the market place will prove unable to police, or regulate itself.
Change form, yes, change business strategy, perhaps, however, the needs will still be great, as control moves further afield from personal responsibility, to that of the manufacture.
Example, what is the car owner failed to get the oil changed, or get a recall done, or failed to follow the scheduled maintenance or repair schedule?
Just a few comments:
1. AVs will be a blip, a very small blip, of all vehicles on US highways / roads / streets in 2025. Perhaps in 2050 AVs will represent 10%-15% of all vehicles on US highways / roads / streets.
2. As the % of AVs does grow, albeit the % will grow slowly, insurers should also consider offering Kidnap & Ransom insurance … to the manufacturers, distributors, and customers of AVs.
I think this is an area that will still need auto insurance more than ever, for the foreseeable future. I do not think most of the country – live outside of cities, will be part of a fleet, or will give up having a vehicle. If they do become part of the fleet, that would seem to create its own liability issues is a members gets into an accident.
What if we have smart computers (that can talk to each other), seeing an unavoidable accident, decides that people in one car are more important that the other car, so the other car is hit, occupants killed?
or, what if two people in a vehicle are having a discussion, or argument, and state something that the computer picks up as a command, and goes into oncoming traffic?
We will still have motorcycles, mopeds, RV’s, buses, etc. that will take time to become self driving.
The final thought, that we we would not need a personal auto insurance policy. Well, personally, if I am going up against Ford, Microsoft, or other companies, I would much rather deal with a more responsive company closer to home, my own policy. Imagine how cases will be tied up for years, while an individuals car has been totaled.
Also key, is a personal auto policy will be the only way a private passenger vehicle owner will be able to keep current with the laws of liability on the State and Federal level.
As we progress into this new wild west direction, the risks and unknowns are to great, with so many liability exposures that will be exposed, I see that, potentially, physical damage rates may go down, however liability will increase. The State or Federal government will be involved simple because the market place will prove unable to police, or regulate itself.
Change form, yes, change business strategy, perhaps, however, the needs will still be great, as control moves further afield from personal responsibility, to that of the manufacture.
Example, what is the car owner failed to get the oil changed, or get a recall done, or failed to follow the scheduled maintenance or repair schedule?