Car Insurance And Technological Challenges
As the automotive industry progresses, the auto insurance must keep pace and make some changes. New policies and conditions may be added in the nearby future, in order to reflect the reality. We all want to save money on car insurance and some of the following technologies and innovations will really help us:
- Telematics are on the rise. Telematics technology allows the insurance company to remotely monitor your driving behavior. The company will know when you drive, how far you drive and how good your driving skills are. Although it may look like some Orwellian SF scenarios, where the insurance company is the “Big-Brother”, the use of telematics devices may actually work in the favor of good drivers. If you meet the requirements asked by the company, then you will get a discount. The main disadvantage is, of course, being penalized for not meeting certain requirements.
- Proof of insurance can be digitally stored. With so many smartphones, tables and laptops, it becomes easier to store your proof of insurance on one of those devices. Whenever you are pulled over by a police officer, you can easily access your phone and show proof of insurance. We are living in a society where insurance and paying insurance is becoming more and more paperless. However, you should always store a paper copy of your documents somewhere safe. If the device you have stored the documents gets stolen or malfunctions, those paper documents will be really be your only option.
- Self-driving cars. More and more car makers and IT companies are competing for producing fully autonomous cars. Insuring cars without drivers may be problematic. Special policies must be made and special terms and conditions must be elaborated. Things will also get problematic when a self-driving car causes an accident.
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