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Can having auto safety tech reduce your vehicle insurance rates?

On Behalf of | Apr 27, 2022 | Car Accidents |

It is safe to assume that motor vehicle accidents will never be a thing of the past. Automobile crashes affect many lives in Manhattan Beach, California. They can lead to severe injuries and significant financial hardships that victims must typically deal with simultaneously.

Most California residents want to find some method of reducing the (physical and financial) consequences of a motor vehicle accident. As such, many people believe that getting a car with safety technology or having the tech installed can help them accomplish this goal.

For one, such technology may help motorists avoid a crash. Additionally, they believe the tech will lower their insurance rates.

Technology has little effect on rates

While it is possible that advanced safety features may help people avoid motor vehicle accidents, they probably will not affect insurance rates.

Even though safer vehicles can reduce risk for motorists and insurance companies alike, insurers typically remain unwilling to lower their rates. Three reasons for this unwillingness include the following.

  1.   In many cases, it costs more to have vehicles with safety tech undergo repairs.
  2.   Insurance companies believe more data is necessary about these safety features.
  3.   It is possible that advanced technology could increase the rate of driver negligence (they may rely too much on technology)

If your primary goal is reducing your risk of suffering severe injuries, automobile safety features may help. However, if your only interest in this tech is to reduce your insurance premiums, it probably will not work.

Some insurers notoriously make low settlement offers after a motor vehicle accident. Learning more about California injury and accident compensation can ensure that you receive a fair amount of restitution after suffering injuries and property damage after a crash.

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