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View Poll Results: Will self driving autos kill car insurance? | |||
Of course |
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44 | 16.48% |
Maybe but not for a long time |
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194 | 72.66% |
I'm a luddite... |
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29 | 10.86% |
Voters: 267. You may not vote on this poll |
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#31
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![]() Under today's laws and forms, I agree to both points. At the time prior to the existence of WC, both points would have been valid also, that is, too expensive and no sane underwriter would bind it. However, legal strict liability for workers' injuries was established and WC still came into existence.
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“Fantasy is escapist, and that is its glory. If a soldier is imprisioned by the enemy, don't we consider it his duty to escape?. . .If we value the freedom of mind and soul, if we're partisans of liberty, then it's our plain duty to escape, and to take as many people with us as we can!” ― J.R.R. Tolkien |
#32
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![]() I doubt collisions with animals will drop that much. Most of them are generally unavoidable. Google can't change the laws of physics and make a car moving 100mph (since they will presumably go faster) stop in 15 feet before it hits the deer.
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#33
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![]() Quote:
$550 / .75 = $733 $100 / .75 = $133 Decrease of 82%. I don't think a 90% drop in loss costs is even that likely. Maybe a 90% drop in frequency, but severity costs will be up. |
#34
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![]() Quote:
You do make a good point about fixed expenses. But, even this is overly optimistic... auto insurers will have far less to compete on once driving behavior is taken out of the equation, besides service and expense costs (bc every driver is nearly identical from a loss cost perspective given a certain milage if the tech works correctly; only comp loss costs would be worth doing real analysis on). I'd imagine that fixed costs would decline (in real dollars) as companies paid more attention to that as it became more and more of a % of premium. But you're right that it'll still be a big part of premium and will keep premiums from declining as much as I had thought. All of this assuming that no radical insurance industry changes occur, of course.
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Jason Scandopolous Williams de la Hoya |
#35
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![]() Quote:
On severity: Let's say the autocar can drive safely at 100 mph, and the manual car drives at 65 mph. The autocar's extra equipment probably weighs a little more, but we will ignore that or assume they make the brakes better so it cancels out. The autocar will stop after 4.6 seconds and 330 feet, assuming a 0.00 second reaction time. The manual car will stop after 4 seconds and 240 feet, assuming a 1.00 second reaction time. IANAP, but I don't the the autocar is ever travelling at a slower speed than the manual car based on those numbers. (from wolframalpha.com, use stopping distance as query). So the crashes will likely be higher speed, and based on that, we may even have a few MORE animal collisions with this technology once it is in full use and the cars can go faster. Plus, the other part of severity is fixing the car, and that is clearly going to be more expensive with the extra sensors and gizmos. Edit: A speed of 85 mph with 0 reaction time is the same a 65 mph with 1s reaction time ... they both stop around 240'. |
#36
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Jason Scandopolous Williams de la Hoya |
#37
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![]() In terms of driverless cars, until a foolproof antivirus comes on the market I doubt we'll see them without manual options (and therefore a need for insurance). It's one thing when your cpu crashed ... completely other when it's your car and you're inside.
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#38
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#39
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#40
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![]() Because now I can spend an extra hour a day reading, working, studying, or playing Words With Friends, instead of staring at a stripe of pavement. I can't imagine why people would routinely forgo that, unless they are a car enthusiast. And even then, I can't imagine they get much enjoyment from the daily commute.
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