The evolution of driver assistance technology has revolutionized the automotive industry, impacting both vehicle safety and driving habits. These industry developments can affect auto insurance rates, depending on the features of your vehicle.
Understanding how driver assistance technology influences insurance premiums is crucial for both insurers and policyholders alike, as it not only reflects the changing dynamics of risk assessment but also sheds light on the potential cost-saving and safety benefits associated with these innovative features. In this article, we’ll explore what driver assistance means, how it’s changed car insurance rates, and how SelectQuote can help you find the right coverage for you.
What does driver assistance mean?
Driver assistance—also known as Advanced Driver Assistance Systems (ADAS)—is a group of safety systems meant to automate and enhance your vehicle’s safety and driving features.
These technologies are intended to improve overall vehicle safety and, in some cases, enhance the driving experience. Driver assistance systems can encompass a wide range of features, such as:
Adaptive cruise control
Lane departure warning
Automatic emergency braking
Parking assistance
Blind-spot monitoring
These systems typically utilize sensors, cameras, and advanced algorithms to detect and respond to potential hazards and provide additional convenience behind the wheel. The ultimate goal of driver assistance technology is to increase safety, reduce the likelihood of accidents, and improve overall driving comfort and convenience for motorists.
How does driver assistance impact car insurance rates?
While advanced safety features for cars encourage safe driving and help prevent accidents, they often increase both the cost of the car and the cost of repairs. When a claim is made on a car with safety features, the auto insurance carrier is going to have to pay more than on a car without. Car safety features are a great way to keep you and your family safe, but they will likely increase your auto insurance rates. It probably won’t be until the majority of cars on the road have advanced technology and are able to guarantee safe driving (by working independently or communicating with one another) that insurance premiums may drop on vehicles with smart tech. Until then, some might find that the increase in cost is worth the safe driving support.
If I have a vehicle with safety devices, how can I lower my auto insurance rates?
Lowering auto insurance rates by having a vehicle with safety devices is a smart approach to take advantage of modern technology’s benefits. Many insurers provide reduced rates for vehicles equipped with advanced safety technologies, so look for insurance companies that offer discounts specifically for safety features.
There are a variety of ways to find auto insurance discounts—such as bundling, affiliation discounts, and good driver discounts—so while not all auto insurance companies provide discounts for cars with vehicle safety features, there are other strategies that can help you reduce the cost of your premiums.
Learn More About How You Can Save on Auto Insurance with SelectQuote
Whether you purchase a vehicle with advanced safety features or you’re looking for other ways to lower your auto insurance rates, SelectQuote can help you save on your coverage. With nearly 40 years of industry experience, our licensed insurance agents will review your saving options and priorities to find a policy that meets your needs. In just minutes, we can help you compare quotes from several of the nation’s most trusted carriers so you understand your options and choose coverage that’s right for you.
