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What Is The Future Of Autonomous Vehicles?

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Looming changes in insurance laws are susceptible to the rapid rise in autonomous vehicles and the transformation or potential eradication of personal liability under Michigan’s No-Fault Act pursuant to state laws. Today’s society is brimming with pioneering technological advancements that allay any fears of backpedaling to the era of the 20th century where the progression from the “horse” age to the “motorized” age provided hope for a futuristic America. Now, the world is preparing itself to embrace the next major evolution in traveling: the shift from driver-dependent cars to self-driving vehicles. Technology has changed the way the general public communicates, learns, lives, and most importantly, travels. Today’s vehicles are equipped …show more content…

The threshold question becomes: what kind of insurance will be required in order to cover accidents involving autonomous vehicles? One compelling argument suggests that governmental encroachment and regulation of current insurance laws at the state-level is tantamount to construct a uniform system. The impetus behind such reasoning is largely to thwart the opening of the flood gates for individuals to sue the manufacturers of the autonomous vehicles based on deleterious product liability claims. As the law currently stands, however, insurance laws are state-based, and need to be addressed at each state-level, respectively. States are still unclear on how the widespread use of such vehicles will impact their insurance laws. Michigan’s No-Fault laws will not be completely eradicated, but will be transformed in order to account for the rise in product liability concerns. As the comprehensive testing of self-driving vehicles surges, the need to insure them grows with it. No-Fault Insurance is currently mandatory in Michigan; every car owner must purchase a certain level of basic insurance coverage in order to obtain a license plate. If vehicles in Michigan become autonomous, how high would insurance rates become? Coverage under the Residual Liability facet of the Act pays your for any damages should you be found liable, up to the limits of the policy. But the individual insurance coverage policy limits

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