Today I changed my car insurance company. I was being ripped off by the company I had before. For whatever reason, I never bothered to shop around. After many years of paying a lot for car insurance, I finally made the switch today.
The cost was much smaller for exactly the same coverage. It makes me wonder how it is legal for companies to charge such different amounts. I know that the insurance industry is heavily regulated but it seems to me that there is still a lot of scam going on.
A part of me wonders if the car insurance industry will stay the same. I have heard of a program by Tesla to provide insurance to their vehicles. It is based on your driving history and style and it is in pilot at the moment. Given that Tesla is leading the market in automated driving, it makes sense for them to go into the car insurance industry as well. In the future, it will be all about the manufacturing companies warranty and insurance than the driver itself... so Tesla is ahead of the curve.
The cost was much smaller for exactly the same coverage. It makes me wonder how it is legal for companies to charge such different amounts. I know that the insurance industry is heavily regulated but it seems to me that there is still a lot of scam going on.
A part of me wonders if the car insurance industry will stay the same. I have heard of a program by Tesla to provide insurance to their vehicles. It is based on your driving history and style and it is in pilot at the moment. Given that Tesla is leading the market in automated driving, it makes sense for them to go into the car insurance industry as well. In the future, it will be all about the manufacturing companies warranty and insurance than the driver itself... so Tesla is ahead of the curve.
