Car and Truck Insurance


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As the auto and trucking industry continues to change due to a variety of factors, it should not be surprising to learn that the insurance business is morphing as well. In fact, in the next twenty years (or sooner) it may ‘look’ very different than it appears today.

That is because vehicle manufacturing continues to incorporate safety technology that will decrease the number and severity of accidents; and the number of injuries and fatalities. While this may be advantageous to the individual – the insurance industry may lose its appeal as an employment option.

According to researchers some of the expected changes to the insurance industry include an increase in the ‘pay-per-use’ model with the growth in ‘car-sharing’. In addition, driverless cars will also necessitate a new model of insurance coverage that is based on the vehicle instead of the driver. Too, as vehicles rely less on human drivers – the errors will shift as well. This means that the risk will shift to the mechanics of a vehicle instead of the person behind the wheel.

Yet another adaptation to insurance can be traced to the explosion in social media. In the end, this form of networking has created new ‘pools’ of drivers who take advantage of current group discounts. Perhaps the most valuable outcome of this has been that the number of insured drivers continues to increase.

The larger vehicle insurers are aware of these impending, cataclysmic changes to the way they will do business – and are currently adapting their product lines to meet future needs.

As with all insurance, a prudent person will balance the potential risks against the cost of insurance. Commercial vehicle drivers and motor carriers have separate insurance requirements from those of passenger car or families. The liability limits are much higher for eighteen wheelers and for good reason.

Shopping for insurance can be done fairly quickly in today’s market, you can contact numerous insurers and get quotes online with very little effort. We recommend that families carry uninsured and underinsured motorist coverage in Texas due to the large number of car accidents with uninsured drivers.

Baumgartner Law Firm 42 East Ave, Suite B Austin Tx 512-348-6768.

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