Advanced Safety Features Can Drop Car Insurance Premiums By 10% — But They Make Repairs Much More Expensive

MSN

Today’s cars come chock-full of advanced driver-assistance systems that help drivers avoid collisions and accidents making modern cars safer than ever, but on the financial side have produced a mixed bag of savings and costs for drivers.

Those fancy sensors and systems aren’t cheap to fix. Since many of a modern car’s ADAS sensors are located in easily damaged places like bumpers, wing mirrors, and windshields, repairing even a mere fender-bender or a chipped windshield might not necessarily as simple or cheap fixes as it once was.

“In the end, though, these features are so effective at reducing claims that insurers offer an attractive discount for any car that has them,” said Kacie Saxer-Taulbee, a data scientist at insurance comparison shopping website Insurify. “Most drivers can expect about a 2% to 3% discount per safety feature — or about 10% off of their premium from a typical safety package — which increasingly includes advanced features such as adaptive cruise control and blind-spot cameras.”

Read the article at MSN.

 

The post Advanced Safety Features Can Drop Car Insurance Premiums By 10% — But They Make Repairs Much More Expensive appeared first on Fleet Management Weekly.

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