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Insuring The Cars Of The Future

Tue, 15 Apr 2014 17:42:09 CDT
By: Charlie Schlenker

Automakers and some technology companies are researching driverless cars. Google has a prototype already. So do Ford and Volvo. Some companies predict autonomous vehicles will hit the market place by 2020 or 2025. But, the head of the nation's largest auto insurer remains skeptical about the far edge of predictions of a completely driverless vehicle. Ed Rust says variables such as weather and traffic may be a high hurdle to overcome in real world conditions.

State Farm is also keenly interested in the new technology though. Listen to GLT's Sound Ideas Wednesday for an interview on the future of new car technology with State Farm's Innovation Team Director. CEO Ed Rust DOES say technology that interacts with the environment like self parking mechanisms and collision alerts may reduce the frequency and severity of accidents. Other experts predict auto insurance premiums could fall by 60% with the advent of autonomous auto tech.

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