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Question of the Day

Insurance #2

What is the future of car insurance if we all switch to driverless cars?

www.ngpf.org Last updated: 10/23/17

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  • Car insurance policies will likely change dramatically as the responsibility of car ownership and liability change.
  • The number of car insurance companies may decline as a result of having more driverless cars on the road.

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From Marketplace.org audio interview (4 minutes) with WSJ reporter Leslie Scism:

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“Car insurance right now largely exists to pay out for wrecks. So if driverless cars live up to their potential, and there are many fewer wrecks, then a lot of the reason for being is gone for the car insurance companies.”

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Follow Up Questions

  1. If a driverless car ends up in an accident due to a malfunction or hacked software, who do you think should pay for the insurance? The car owner? The car company? The gear or part maker? Why?

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  • Do you think it is good or bad that the number of auto insurance companies may decline if driverless cars become more popular? Why?

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  • How do you think current car insurance policies will change if driverless cars become more popular?

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  • What kind of insurance issues do you foresee in a situation where there is an accident involving one driverless car and one regular car with a driver?