auto / insurance

Wondering Why your New Car Insurance is So Expensive?

“New cars loaded with high-tech crash-prevention gear are having a perverse effect on car-insurance costs: They are soaring.”
“Safety features such as autonomous braking and systems to prevent drivers from drifting out of their lanes are increasingly available on vehicles rolling off assembly lines. Auto companies and third-party researchers say these features help prevent crashes and are building blocks to self-driving cars. But progress comes with a price.”
“Enabling the safety tech are cameras, sensors, microprocessors and other hardware whose repair costs can be more than five times that of conventional parts. And the equipment is often located in bumpers, fenders and external mirrors—the very spots that tend to get hit in a crash.”

Christina Rogers & Leslie Scism explain the details behind the sky rocketing insurance costs in the Wall Street Journal: Why Your Extra-Safe Car Costs More to Insure

Source: Financial Planning for Women