Does vehicle technology impact insurance rates?

Innovation and creativity have created a more technologically advanced world than at any time in history. People are always looking for ways to improve and simplify their lives, and no market has taken more leaps forward than the auto industry.

Smart vehicles have replaced the older cars of the roadways. The increased use of computers, technology, and sensors in motor vehicles has made them safer to drive than the cars and trucks of the 1970s.

Fatality rates from motor vehicle accidents have been reduced by nearly 30% in the last 50 years. We continue to find new ways to save lives and money with improved smart vehicle tech, and we’ll examine those methods. We’ll also look at how insurance companies can help you save money because of these improved safety measures. 

What types of safety technology have been implemented?

Drivers need to understand what has been added to vehicles in the past several decades to meet safety requirements. Not knowing what accessories you have at hand makes individuals and small business owners unable to take full advantage of the situation. 

The airbag is now one of the older innovations in car safety tech, as it was created in 1951. This device aims to add an extra layer of protection between the driver and the steering column. The airbag wasn’t put into law as a requirement in cars until 1998. 

Anti-lock braking systems (ABS) are also one of the older additions implemented in the 1970s to most motor vehicles. These brakes make sure that the car is still controllable when you slam on them. Before this feature, cars would come to such a standstill that the wheels became jammed, and you risked skidding out of control. 

Traction control technology senses when a driver is trying to do too much on the terrain they are driving on and adjusts the brakes, cylinders, and throttle on the car. This combines with the ABS to give ultimate control to a vehicle. 

Lane departure systems will let drivers know when they are swerving out of a lane by announcing it to you or by showing it to you on a monitor. This innovation is particularly helpful for sleepy drivers, an unfortunate byproduct of the fast and busy society that we all try to keep up with. 

One of the most famous dangers of driving is trying to remember to check your blind spots when you change lanes, particularly on the freeway. Many cars now have blind-spot monitors that will alert you when you try to switch lanes into a car that is impeding your blind spot. Some devices can even let you know when pedestrians and cyclists are approaching.

Dash cams are optional additions that some people can have installed in their vehicles, or they can use their phones for the same purpose. The cameras give extra angles to the driver so they can see what is going on behind them. They also let you focus on the road when you are in a scenic location, allowing you to go back and look at what beauty you missed in the meantime. 

Another potential danger is more subtle: data safety. The surge in safe technology carries with it data security threats, especially with unfamiliar vehicles such as rental cars. Businesses that employ drivers should make sure that any smart tech or safety features are also defended against hackers and other digital threats. One way to do that is to book your car rental with Enjoy Travel, the online travel agency that guarantees you the highest level of data protection and privacy.

Insurance Incentives for Safe Cars

If you still don’t think all this is enough to save your old car for the antique shows, there is also the added bonus that most car insurance companies will give you a discounted policy depending on the safety features in your vehicle.

Insurance companies want to make money, and they do that by making sure their customers are doing everything they can to avoid an accident. The safety features in modern vehicles will also prevent you from getting hiked rates because you should theoretically get in fewer accidents. 

Many insurance companies have also created policies for installing smart devices in your vehicle that monitor safe driving habits. These devices will motivate you to drive safer, and the above safety features of the car will aid in this quest. When you combine all these actions, driving is safer and cheaper to insure than ever before.

Take Advantage of the Era

Make yourself aware of these great features that have been introduced in cars throughout the last several decades. If you are driving an older model, ask about how you can improve your safety and whether it would just be cheaper to lease a model that could save you money and even save your life. Different cars have different leased car insurance requirements.

We are lucky to be living in an era of extreme attention to detail in the auto industry. Take advantage of it and feel fortunate that we will continue to move forward and save people from danger.

Shawn Laib writes and researches for the auto insurance comparison site, He prioritizes driver safety and helps customers save money on their car insurance in this fast-paced modern society.