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Updated
Data verified by both the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS) shows new driver assist tech works. But that’s not enough to earn a specific insurance discount for it. When asked why, insurance companies cite higher repair costs, insufficient safety data and drivers not fully understanding the technology.
New technology is being added every year, but more common driver assist features include:
Currently, only one driver assist feature comes with a discount — ESC. It’s been a standard add-on since 2012. If your vehicle has this feature, here’s how you can request a discount:
Electronic Stability Control comes with an average discount of $7 a year on an average annual premium of $1,400 a year. It’s currently the only feature that’s called out into its own discount with some car insurance companies.
It’s not the heaviest discount, but car insurance companies look at the overall safety rating of your vehicle when assigning risk. That means while you might not get a specific discount, you could still be getting a better rate than if your car didn’t have driver assist technology.
Driver assist technology continues to gain in popularity and customers not only want the features, a J.D. Power survey in 2018 found that 40% of those surveyed would switch to an insurance company that offered discounts on them. But specific discounts aren’t the only way assist tech can save you money on car insurance.
Regardless of whether your insurance premiums are reduced or discounted, the data on the tech itself proves this technology can reduce accidents. It’s even been endorsed by the NHTSA and IIHS.
Discounts or lowered premiums associated with these features could become standard in the industry any day, so keep checking with your insurer. In the meantime, remember to shop around and compare companies to make sure you get the best deal overall.
Preliminary data on fatal accidents and driving behavior could explain why drivers haven’t seen higher insurance refunds.
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