ABC is reporting that the Auto Insurance Institute predicts a 32% reduction in costs of accidents with collision warning and lane drift digital technology. ABC got an early look at the study and it is not online.
The results, economically, are simple. If we estimate savings of 30% in crash costs, then we should expect a 30% reduction in insurance costs. If comprehensive insurance for the car is $3,000/year; then we can justify driver assist technology costs of about $1,000. This number is within the range of systems recently deployed.
The point being that increasingly automating our vehicles increasingly pays back to us in lower overall costs. Not just in the expected 40% reduction in total energy saving, but an additional 30% reduction in accident costs. When applied to freight trucks and public transit then the total costs compound.
We are indeed in the era of automated vehicle control on our public roads.
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