Insurance is a necessary evil in most cars, but it is even more important in self-driving car systems. In addition to covering damage from accidents or mishandling of the vehicle, liability insurance protects manufacturers and passengers against lawsuits when a self-driving car gets into an accident. Below are seven reasons why you need insurance for a self-driving car.
1. Liability for accidents
When a self-driving car gets in an accident where there is damage to property and/or injury, the makers of the self-driving car system can be held liable. Independent insurance agents can provide liability insurance for manufacturers so that they will not lose money if their invention causes damages or injuries.
2. Protection from lawsuits
The makers of self-driving cars may feel secure if they believe that the duty to protect passengers falls on them alone. However, when a self-driving car gets in an accident, people injured by or damage caused by it could sue passengers for failing to intervene or allegedly allowing the car to get into accidents. This is where liability insurance comes in. It protects passengers against lawsuits.
3. Protection against cyber threats
When you drive your own car, you are familiar with the terrain and can easily assume risks without being aware of doing so. This is different with self-driving cars because they have to assess situations which are unfamiliar for human drivers. Additionally, manufactured components that enable or enhance self-driving cars have to be connected to the Internet. This makes them vulnerable to cyber threats, which is why it is important for individuals who buy self-driving cars to get liability insurance.
4. Protection of privacy
The makers of self-driving car systems are responsible for protecting the privacy of passengers while they are being driven around in self-driving cars. This is another reason why insurance is necessary because manufacturers need it to compensate for losses if their self-driving car systems get hacked and people’s privacy gets compromised.
5. Wear and tear of automated components
All automated components such as the sensors, braking system or steering mechanism of a self-driving car will wear down after continuous use. The makers of these automated components may be held liable if their invention fails because of wear and tear, which is why it is necessary that insurance protects manufacturers against lawsuits stemming from failures due to wear and tear.
6. Coverage for foreign-made parts
When cars were first invented, they were made entirely by hand. As technology improved, all parts of cars, including the engine, got more complicated. Today, there are sophisticated components in cars that are made all over the world. When self-driving cars get in accidents with these foreign-made components, insurance protects manufacturers against lawsuits.
7. Protection from unforeseen risks
A car is an expensive investment for most people and they want to protect it for as long as possible. That is why they buy insurance for their cars, just like how people can buy insurance for self-driving cars so that unforeseen risks do not cause irreparable damage to them, or make them lose all their savings in one swoop.
Why do people need insurance for self-driving cars?
When a self-driving car gets in an accident, the makers of the self-driving car system can be held liable. Insurance protects manufacturers against lawsuits, protecting their investments in case something goes wrong with the invention. Additionally, when there is damage to property and/or injury, the makers of the self-driving car system can be held liable. Insurance protects passengers against lawsuits, protecting their investments in case something goes wrong with the invention.
What are the benefits of buying insurance for self-driving cars?
The makers of self-driving car systems are responsible for protecting the privacy of passengers while they get driven around in self-driving cars. If anything goes wrong, manufacturers can be held liable. Insurance protects manufacturers against lawsuits, protecting their investments in case something goes wrong with the invention.
Is insurance for self-driving cars a good idea?
Yes, because nobody would want to lose all their money and savings because of one accident that was not their fault. Insurance for self-driving cars protects individuals against unforeseen risks.
Who is responsible for protecting privacy while a self-driving car gets driven around?
Manufacturers of self-driving cars are responsible for protecting the privacy of passengers while they get driven around in self-driving cars. This is why insurance protects manufacturers against lawsuits, protecting their investments in case something goes wrong with the invention.
In Light Of These Facts
I hope that we’ve convinced you to get insurance for your self-driving car. Whether it’s a brand new one or an older model, accidents do happen and not having the right coverage could result in financial disaster. Self-driving cars are already here (in some areas) so don’t wait until something happens before you make sure you have enough protection! What reasons did we miss? Let us know below in the comments section and share any thoughts with our readers about this article topic.