A few years ago, the mention of a driverless car would sound like a far-fetched idea. However, things have now changed.
Driverless cars are a reality, with some car manufacturers already running tests of autonomous cars on American roads.
While manufacturers like Tesla are already developing self-driving vehicles, they have maintained that the cars are semi-autonomous and require driver responsibility while on the road.
However, the question of liability in self-driving cars still remains a center of focus. Many prospective buyers and industry players wonder how insurance will work when these cars hit the road.
How Driverless Cars May Affect Insurance
A huge percentage of vehicle accidents result from driver error, with younger drivers likely to cause an accident than older drivers. This explains why premium costs for younger drivers are relatively higher than for older drivers.
However, compared to humans, the level of error in Artificial Intelligence (AI) is very minimal. That means incorporating AI in driving could be a game-changer, potentially changing the insurance industry in a big way. In other words, AI can help reduce the chances of an accident, no matter who is driving the autonomous vehicle, and in turn, help push down the cost of insurance even for younger drivers.
But until autonomous vehicles become a mainstay on the US roadways, the insurance cost will depend on your age and your accident history. If you are tired of paying high insurance premiums from your current insurer, this resource on where to find cheap insurance in the US can be an excellent starting point.
Who Has Liability In Autonomous Vehicles?
Currently, the driver is responsible for all damages resulting from an accident caused by a human fault.
That does not matter whether or not the vehicle they were driving is installed with technology that should supposedly help avoid such an occurrence but failed. After all, technology is never supposed to replace the driver but assist them.
However, there are instances where the car manufacturer may be liable for an accident. A good example is if a malfunction in the vehicle’s software or a faulty vehicle part renders the driver unable to control a vehicle resulting in an accident. In such a case, the vehicle manufacturer or the software developer may be liable for the accident.
While both of these scenarios address liability to semi-autonomous vehicles, liability for accidents resulting from driverless cars is an area of the law still under development.
Nevertheless, experts predict that accidents resulting from driverless cars will see liability shift to the technology developer and the vehicle manufacturer. Such a development will increase product insurance and shrink personal automobile insurance.
Risks Associated With Driverless Cars
Data Breaches
Driverless cars depend on the internet, GPS data cameras, and radar to help keep vehicle occupants safe. The data collected by the GPS detectors, cameras, and radar sensors are then broken down through software to control the vehicle.
While vehicle manufacturers undoubtedly employ the best data security practices on the software that runs cars, there can be no guarantee that hackers can’t get through to the system. This can result in tragedy if the hacker intends to be malicious.
Risky Driving Behavior
There is a high likelihood that the sight of autonomous cars would encourage other road users to engage in risky behavior.
According to a study conducted by the transport research laboratory, drivers would be more likely to engage in risky driving behavior like pulling in front of autonomous vehicles they spot on the road. This could potentially cause a spike in accidents in the early stages of introducing self-driving cars on the roads.
Final Words
Currently, autonomous cars are yet to bring any changes to insurance laws. Even if fully autonomous vehicles get on the road today, it may take some time before they can become a mainstay on the road to bring significant changes in the way insurance companies approach auto insurance.