Driverless cars and insurance

People will still have to buy insurance. Chances of an accident will be much less, but it's still people operating ~4000 lb machines around a bunch of other people. Insurance companies will still be able to sell policies while at the same time cut down on indemnity payments, defense expenses, claim adjuster salaries, and operations support for the claim adjusters. No clue if it will be more or less profitable for insurance companies. Probably will depend on how smart the insurance companies play it.

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I think they will still need insurance as well, just was curious if anyone had thoughts about basically insuring machines instead of people.

Or any insights about all the statistics, etc that would entail

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When I worked for State Farm, our District Manager would talk about it, but never had any concrete answers to your questions (I had the same).

Guess just stay tuned....

I just feel like if the car can drive itself it can and will collect a ton of data, including how often it is off 'autopilot', if that person drives too fast, who drives it (parent vs kid), etc.

I feel like every policy would be super customized, and the more I leave it on autopilot, the better rate I could get.

Or maybe something like an electric bill. Changing premiums based on monthly risk exposure. If you don't drive at all one month, just a small base charge