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Insurance may shift focus for autonomous vehicles

Louisiana drivers may be interested to learn that it was being predicted that auto insurance companies would begin to suffer as autonomous vehicles made their way onto the nation's roadways. However, it is now suggested that auto insurance products will simply shift focus, especially after reports of fatal accidents occurred that involved self-driving cars.

While autonomous vehicles have the potential to make the roads safer for all drivers, any accidents that do happen will likely be more expensive due to the cost of the technology. During an accident, the autonomous vehicle's sensors and other equipment could become damaged. This technology pushes the costs of repairs higher, even if the accident is only a simple fender bender.

Even so, the transition to actual fully autonomous vehicles will be long and difficult. Many drivers may utilize semi-autonomous features for a short amount of time while on the road, especially when it comes to driving on the highway or when stuck in traffic. As a result, insurers will have the ability to offer insurance coverage on both the person in the car and the vehicle itself. Further, there may even be more options for insurance products, such as cyber insurance in the event that a vehicle gets hacked.

Car accidents can result in serious injuries that are sometimes fatal. Because collisions can be costly, all drivers are required to have insurance to cover any damages. Once a crash occurs, the liable driver could potentially be held responsible for the accident. A personal injury attorney may open an independent investigation into the crash prior to seeking a settlement with the at-fault motorist's insurance company on behalf of a victim.

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