If you’ve been following the news, chances are you’ve heard of self-driving cars. According to many tech industry insiders, self-driving vehicles will become a reality sooner rather than later, with some pundits predicting they will appear on the road by the end of the decade.
When they arrive, these futuristic vehicles will transform the road. Of course, there will still be plenty of human drivers, so let’s take a glimpse ahead to see how driver-less cars will work and how they might impact Calgary auto insurance rates.
Calgary Auto Insurance: The Self-Driving Vehicle
The concept behind self-driving vehicles has been around for a long time. In essence, these cars will be guided by computers, which sense speed limits, traffic conditions, signage and signals, and can react to obstacles like stopped vehicles, cyclists and pedestrians. All you have to do is sit back and let the vehicle drive itself.
However, the actual self-driving technology is only part of the story. A much bigger part is the larger computer network to which these cars will be connected. That network will have to handle an incredibly complex range of logistics to ensure automated vehicles on the grid are able to perform they way they would with a human driver.
Google is one of the tech companies leading the charge towards the age of the self-driving car. The company is in the advanced stages of testing on both vehicles and networking grids, and based on the headway they’ve been making, the advent of the driver-less car could be a lot closer than you might think.
Calgary Auto Insurance: Vehicle Insurance in the Automated Age
Of course, the driver-less car begs the question of how Calgary auto insurance will work once these self-guiding vehicles become a fixture on the road. Here are some trends that industry analysts expect to see in the years ahead:
- Accident rates will go down. Safety is a top priority for tech developers looking to make the age of the self-driving car a reality. These vehicles will be programmed to obey speed limits, sense and avoid obstacles, and proceed with extra caution in congested areas. In short, they won’t make the same mistakes human drivers make, and that will likely lead to reduced accident rates in the city and on the highway alike.
- Private vehicle ownership rates will decrease. Some pundits predict driver-less cars will roam the roads like taxis, giving rides to people looking to get from A to B. You will be able to order a vehicle using your smartphone, and the nearest automated vehicle could theoretically be there to pick you up within seconds. For many people, this functionality will eliminate the need to own a car, so you’re likely to see vehicle ownership rates go down as company-managed self-driving car fleets take over.
- Telematics will become a key part of the auto insurance industry. Telematics, which is electronic tracking of driver habits and behaviours, is poised to transform the insurance industry as we know it. In the years ahead, millions of vehicles will be equipped with electronic sensors that calculate the driver’s average speed, braking habits, cornering habits and overall safety. This information will be relayed to insurance providers, which they will use to calculate premiums for those who choose to continue driving on their own rather than use automated vehicles.
In essence, safe drivers are likely to be rewarded with lower premiums. The rise of telematics could also pave the way for “pay as you go” vehicle insurance, which could make things much more affordable for occasional and secondary drivers.
Calgary Auto Insurance: Look to Lane’s
At Lane’s Insurance, we’re here to answer any and all questions you may have about Calgary auto insurance. We are a full-service brokerage, meaning that we work for you, not for insurance companies. Thus, we always strive to give you options for all your insurance needs, carefully comparing coverage plans and rates from multiple providers to make sure you get the best value for your money.
We also offer excellent savings on insurance bundles. If you purchase both your home and Calgary auto insurance through Lane’s, you could save as much as 20 per cent while still enjoying total protection and our signature service excellence.