Car Insurance Premium is just a simple calculation?

Car Insurance Premium, Car Insurance, Auto Pilot, policyholders, google cars, Tesla, manual driving, public cars, US Constitution

As per the definition, Car Insurance Premium is the fees that a policyholder has to pay to the insurance company in terms of coverage. But you should be aware that the amount of Car Insurance Premium is not identical for all policyholders, it relies on the policy type and local regulations, etc. however, it is a detailed subject that what factors affect your Car Insurance Premium.  

However, it is obvious that every insurance service providers promote its car insurance services as an ideal solution for your vehicle, in the case of any damage or accident, etc. but the picture is sudden changes when the innovative technology shakes hands with auto sector such as Tesla new ‘Auto Pilot’ features, etc. So, here the question arises that if such type of advanced featured cars hits something or hit by something so who will be responsible? Car driver or software that controls the autopilot system of your innovative car?

Car Insurance Premium & autopilot feature

There is a question, is that autopilot feature will act as your Car Insurance Premium definer or not because in some state it is the ridiculous practice that your credit rating history is hacked and used for your insurance premiums so it may be a big cause of concerns not only for you but also regulators.

It is already on aired that recent Tesla accident that is happened because of its ‘autopilot’ system also opened venue of controversies and hot debates, does that autonomous driving is a risk for life or another door of playing tactics by insurance service providers under the hood of Car Insurance Premium.

However, car insurance service providers seem to follow the same tactics that are used to. According to some of their sources, there should be no any difference between self-driving vehicles and autonomous one; hence, the Car Insurance Premium should be evaluated in that way. But if these insurance gurus are so simple so why they snatch and use credit rating history of their policyholders; please note, because of that ill practice, some states such as Hawaii, etc. imposed a ban on using credit rating history for insurance processing, etc.

Who is solely responsible?

In the quest of finding answers about, who is solely responsible for such type of autopilot empowered vehicles when the driver is in relaxed mode by tuning up its autopilot system? While in traditional scenario i.e. manual car driving accidents, car insurance service provider is liable to pay the amount to the claimed party. However, some source discussed that it doesn’t seem any exclusion in term of auto driving issues or accidents. If an insurance firm doesn’t set Car Insurance Premium as it does for manual driving, so a policyholder has absolute right to file suit against that insurer.

The Turning Point

According to Tesla source, “does not turn a Tesla into an autonomous vehicle and does not allow the driver to abdicate responsibility.”

Above statement is the turning point for policyholders or affected a person if they find any discrepancy during his or her Car Insurance Premium or policies. Besides, it is further cleared that new cars are for public and owner has sole rights to sue against those insurance firms that try to take advantage in that regards.

As per some media report, an American citizen was killed when he was on the way to Williston, Fla. His car collided with the big trailer. During the investigation, it is disclosed that the vehicle’s autopilot system was active, but Tesla sources further described that its autopilot system is in “beta” status.

As per further explanations, in the case of Tesla, its autopilot system is misleading because it is not the truly self-driving car but the combination of serial driver assisted systems. While other truly self-driving cars such as Google cars are already tested and verified by experts before going to the road for the public. But in Tesla scenario, this auto vendor already suggested that even after tuning up its autopilot system a driver must be active in his seat and must be vigilant during the drive. However, there is also the sheer responsibility for auto vendors either it is Tesla, Google or someone else to strictly adhere to product liability issue and regulations than to just posting guides and explanations about their products because general public is brand oriented and as a responsible vendor, they can’t rely on just clarifications, etc.

Follow Vigilant Approach

On the side of Car Insurance Premium or insurance providers, it is obvious that self-driving system or autopilot system is the latest innovation. And it is fair to say that what insurer will do with respect to Car Insurance Premium but a policyholder need to be very vigilant because if there is no any explicit policy regarding such type of issue, so there are the greater chances of questionable processing by the insurer in the areas of Car Insurance Premium as it is being practiced in Florida and other states by keep fetching client’s credit rating history.

One should be astonished that cutting-edge technologies in cars are now becoming the eye sours for car insurance providers because techs are evolving phenomenon and autopilot and self-driving technologies are too. Hence, calculating Car Insurance Premium on just an unexpected way may bring catastrophes for insurer if policyholder sues in court because of the unjustified procession in pay and calculating the Car Insurance Premium, etc.  

In coming days, when the technology will become more sophisticated and when they’re the next generation of such type of auto software will be in public cars, the job for car insurance providers would be more cumbersome because of finding glitches, either it was the problem of a driver, or the installed software went bad.

But the issue is still there, who will be responsible if Car Insurance Premium is calculated on just assumption basis.  Is there any predefined guidelines for a policyholder for protection his fundamental rights because in lots of US states using credit rating scores for processing seems the violation of personal rights that are defined in US constitution, if it is true so will it be right to express that, car insurance providers are violating the US Constitution.

Disclaimer: Please note, above discussion is just for information purposes. We don’t encourage and give any investment option, suggestion, opinion, etc. in that regard.”

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