Driverless cars are just about ready to hit the market, and many experts are predicting this could save the UK population billions of pounds yearly.
My first reaction to hearing this news was “about time” – don’t you agree? Sure, you can find some reasonable car insurance deals, but it seems that lately far too many of the leading insurance companies just want to overcharge innocent consumers by quoting them ridiculously high premiums. Once driverless cars hit the market then this is all set to change, big time.
In actual fact, many of the leading pundits are saying that car insurance will be down 60% across the board. Where do I sign up for that? Not only do I get to relax while the car drives for me, but I also get a huge discount on my yearly premiums. This just gets better and better.
Now you might be thinking that driverless cars are a long way into the future, but in actual fact this isn’t the case at all. New technology is already finding its way into the latest makes and models, with things such as emergency braking features and automatic parking.
In no time at all we will have a full driverless car that is ready to hit public roads.
When will that be exactly? It’s hard to say right now, but two of the biggest firms in the driverless car industry, Tesla and Google, are looking to launch to the mass market in America over the next few years.
It could then be another 15 to 25 years for this new technology to get the majority of car sales worldwide, although it might happen a lot quicker if the public really take to the idea.
Right now, the average cost of a UK car insurance policy is £357 for 12 months. However, once driverless cars become established then this number could be as low as around £100 a year. That’s less than £10 a month. I’m sure that many drivers would be thrilled with that.
Let’s wait and see how all of this unfolds though. While firms like Tesla and Google are looking to take this technology to market as quickly as possible, the bigger car companies, like Ford for example, are being more slow to take it all on board.
Ultimately though, if the UK consumers demand driverless technology and driverless cars then everything will change very quickly. Big companies like Ford will have to innovate, and the whole car insurance industry will be forced to adapt.
I for one, will be very interested to see how this all plays out over the next few years. It is going to be very interesting.