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How Driverless Cars will Impact Your Auto Insurance Rates?

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How will Driverless Cars Affect Your Auto Insurance Rates?

If two drivers of traditional cars get into an accident, the auto insurance policy of the party at fault will cover the property and bodily damages sustained by the victim.

However, when it comes to driverless cars like Tesla, it depends. If you are still able to take control and drive your driverless car, you may still be liable for any accidents that you’re involved in, and would need to buy auto insurance to protect you and your family. If your car is 100% self driving, your auto insurance rates may go down or even cease because you are no longer liable, given you were not driving. In such a case, the manufacturer of your 100% self driving vehicle would be liable.

If you need car insurance quotes to compare, or more auto insurance related information, please go to EINSURANCE.com.

About Dale Williams

Dale Q. Williams, MBA, is a well-respected financial executive whose experience spans from insurance to investment banking. Dale has first hand underwriting experience through working for one of the largest U.S. based insurance carriers, and advisory experience from working for several bulge-bracket and middle-market investment banks. Dale also received his MBA from University of Chicago Booth School of Business, with concentrations in finance and accounting.

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