Are Americans Buying into a Self-driving Future?
"Like with most new technology, we'll see consumer perceptions evolve and adoption accelerate as the promised benefits of self-driving cars are realized," said
According to Esurance research, in the best-case scenario, a family that gives up their car in favor of driverless ridesharing could save
By 2025, self-driving taxis should be commonplace. In fact, one company is planning to roll out a robo-taxi service this year, while other ridesharing companies are testing driverless cars in
However, there's still a general perception that people don't trust self-driving cars — and can't imagine doing so in the future. In a 2018 Esurance survey3, 83 percent expressed low or no interest in giving up control behind the wheel. Esurance found that there are two primary factors motivating them to continue driving: a general unwillingness to give up control and a fear of the unknown, especially among different generations. Younger survey respondents (aged 18-34) were three times more likely to embrace self-driving cars than adults aged 55 and over. And parents were 60 percent more open to relinquishing driving control than non-parents to gain the benefits of multi-tasking.
Esurance also analyzed 400,000 tweets4 around driverless tech from February to
While the automotive industry is in transition, the insurance industry will also evolve with changing consumer needs. Some automakers are already showing a willingness to accept liability for accidents that can be attributed to the self-driving car technology. This indicates both high faith in the long-term safety of the systems and an understanding that human error accounts for 94 percent of all driving accidents. The more that human error is removed from the equation, the safer are roads will become.
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Research Methodologies
1. Cost-saving calculation:
- Average annual miles of 13,000
- Today's insurance based on national average from
National Association of Insurance Commissioners ; Insurance for electric vehicles is 21% higher than gas vehicles perNerdWallet - Today's cost of vehicle amortized over 8 years and based on
Kelly Blue Book average new car price for gas vehicle - Today's maintenance of
6 cents per mile for gas vehicles per PluginCars.com - Today's average fuel and charging costs based on
University of Michigan's Transportation Research Institute - Today's rideshare costs calculated from average
Uber rates inLos Angeles - Future costs do not account for inflation in order to show apples-to-apples comparison
- Future rideshare costs based on cost per mile estimates from Johnston & Walker for 2025 and RethinkX for 2030
- Future cost of AV based on
$10k premium in 2025 and$5k more in 2030 per IHS over today's electric vehicles (Chevy Volt MSRP 2018) amortized over 8 years, plus insurance paid by automaker and built into sticker price (assumes 33% decrease from today's EV premiums per Deloitte Insuring the Future of Mobility) - Future maintenance savings of 5% by 2025 and 10% by 2030 from today's electric vehicles (at
3 cents per mile per PluginCars.com) - Future insurance assumes responsibility on part of automaker, not individual owner (thus
$0 ) - Future charging assumes flat to today's estimates per
University of Michigan's Transportation Research Institute
2. Based on Allstate analysis and assumes a
3. Survey: Esurance conducted an online survey in
4. Twitter: Twitter data was gathered from
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SOURCE Esurance
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