The Commercial Line

Autonomous vehicles

Like it or not, here they come … fast By Darryl Chidsey Autonomous vehicles are no longer science fiction, and technology is quickly advancing to create vehicles that can drive themselves. The National Highway Traffic Safety Administration recently adopted the Society of Automotive Engineers’ levels for automated driving systems, ranging from complete driver control to full autonomy. Under this system, levels range from 0 to 5: Level 0 is driving the traditional way, with the driver in complete control Levels 0 to 2 are active monitoring levels, meaning that the driver is still in control, but an aspect or two […]

The Tesla Model 3, self-driving vehicles and insurance implications

Historians – and those in the insurance industry – may look back on March 31, 2016, as the beginning of a seismic shift in the automobile industry, and how vehicles are insured. That’s the day that American automotive and energy storage company Tesla Motors began taking pre-orders for its new flagship vehicle. Within 24 hours, Tesla racked up more than 180,000 reservations for the $35,000 Model 3.

Distracted Driving

Perhaps the legendary rock and roll band, The Doors, said it best, “Keep your eyes on the road, your hands upon the wheel.” Driver distractions or inattentive driving play a part in one out of every four motor vehicle crashes. That is more than 1.5 million collisions a year and 4,300 crashes daily, according to the National Highway Traffic Safety Administration.

Overlooked Exposures Can Result In Unexpected Losses

Since hired and non-owned auto coverage usually is not a big-ticket premium item, it could be easily overlooked during the risk assessment process. However, the potential for loss could be quite high. Careful assessment of an organization’s scope of operations and activities is needed to determine whether there is any increased risk or exposures in this area.

Advancement in Technology Impacts Auto Insurance ID Cards

An Auto Insurance Identification Card (auto ID card) is required when applying for a vehicle to be registered for use on public roads.

Have you ever lost your auto ID card? Have you simply forgotten to put the most current one in your glove compartment or wallet? How many frantic calls have you made to your Independent Agent requesting a copy of an auto ID card because of a lost or misplaced card?