With Self-Driving Cars, Auto Insurance’s Time Is Limited

Investors sank more than $1 billion into auto tech companies in 2016 alone.

With that kind of funding, the question isn’t whether self-driving cars will change everything about how we get around, but how soon.

Experts also predict a shake-up in the auto insurance industry, with self-driving cars leading to fewer accidents. Does this mean you can stop paying for car insurance as soon as your autopilot-enabled Tesla rolls off the line? Not quite.

Here’s a look at where autonomous vehicles are now, where they’re going, and how being a backseat driver in your own car might affect your need for auto insurance.

Level 0: No automation

Most cars on the road today fall into this category. They might have automated alerts — such as blind-spot monitoring or lane-departure warnings — but it’s up to the driver to control the vehicle.

Level 1: Function-specific automation

These vehicles have one or more automated features that can ease the impact of a crash. Brake assist and stability control are two examples.

To read more of the original article, go to NerdWallet.

The post With Self-Driving Cars, Auto Insurance’s Time Is Limited appeared first on Fleet Management Weekly.

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