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Examining the link between safer cars and lower insurance rates

As technology improves and discoveries are being made to create mechanisms to make vehicles safer, people in Washington may be wondering if these discoveries will ultimately lower their insurance costs. While some people believe it will, experts are working to establish a connection between the two and the results may not be quite what people are hoping for. 

According to researchers who have looked at the perspectives of both automakers and auto insurers, insurance companies guarantee no promise of lower insurances costs even if vehicles become automated and subsequently, safer. While no automaker wants to have a fatal accident related to the design of their vehicle, reflected back onto their reputation, it is not promised that just because innovations are being made, new vehicles will be inept from the occasional mistake in design. As experts work to create more automated features including braking mechanisms, cruise control and even lane maintenance protocols, insurance companies say that all of these improvements mean relatively little to them. 

Over the years, the auto insurance business has been a strategic way for insurance companies to market and encourage their consumers to consider other, more lucrative forms of insurance. Additionally, auto insurers warn consumers that just because new technology is supposedly going to make vehicles safer, they do not have adequate evidence to support the fact that these discoveries have indeed made a difference. As such, many insurers say that innovative auto technology will most likely not affect their insurance premiums and pricing for consumers. 

If people have been involved in a serious car accident and need help making a claim and pursuing legal action, an attorney is a valuable person to ask for help. With the guidance of a legal professional, people can confidently focus their efforts on their recovery while receiving assistance in presenting their case. 

Source: St. Louis Post-Dispatch, "New technology may make cars safer, but won't necessarily mean lower insurance rates," Tina Bellon Reuters, Jul. 26, 2019

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