Technology is changing many ways in which we live our lives. One very impactful way to that is occurring at a rapid pace is how we interact with our vehicles. These technological advances include rear view camera capabilities, lighter materials that add to the fuel economy, GPS Monitoring for teen drivers to even driver assist features like enhanced cruise control. Here are 6 ways the auto industry is changing that impact your daily life.
Customers can now make more informed buying decisions
Now more than ever it is easier to find in-depth advice about purchasing a new car. The internet is putting more power than ever in the hands of those looking to purchase a vehicle. Websites like cars.com, carmax.com, cargurus.com and autotrader.com give car buyers more information, a larger selection and better prices on used vehicles than even just a few years ago. This makes it easier to buy a car whether it is for your personal use or for the use of your business. The internet can also help car buyers determine which types of vehicles will cause their insurance to go up or down. For a small business owner this can dramatically impact their commercial auto insurance cost.
Driver-Assist Features simplify the driving experience
Vehicles have a lot of features that did not exist a decade ago. These make drivers more safe inside the vehicle. Fully automated cars are still some years away, but many companies are currently developing features that assist the driver in many ways. These features include rear view cameras, automatic braking, collision avoidance systems, pedestrian and cyclist alerts, cross-traffic alerts, and intelligent cruise controls. The safety that goes along with these features give the manufacturers who offer the most and best features a competitive advantage over manufacturers who do not. This can impact car buyers, makers and insurers immensely.
The autonomous vehicle is the vehicle of the future
Some manufacturers are investing enormous amounts in developing fully autonomous cars. Tesla and Google are two companies that are jumping head first in to the market for autonomous cars. Tesla already has vehicles out on the market that offer immediate brake features and driverless lane changing. Google is working to develop the ability to analyze red lights, speed limit signs and sensors to prevent collisions. Only a few states allow fully automated cars on the roads and most are only allowed to be using for testing. Most states allow driver assist features, but require a human to be seated in the driver seat. Florida is one of the few states that does not even require a permit to use and test driverless cars. This should cause Florida to be one of the first states to begin selling these cars and will impact the market for both personal and commercial auto insurance florida.
Camera Technology is making the driving experience more safe
Camera technology has not been used much until about the past 5 years. Most manufacturers are using this in some ways in their cars and they are extending them to a larger portion of their fleets. With the onset of digital technology cameras are much more powerful than they were 5 or 10 years ago. Cameras are now installed in many more parts of the car and give the driver even more options to keep them and anyone inside of the vehicle safe.
Sensor Technology is making vehicles more safe, efficient and longer-lasting
Sensor technology is being combined with camera technologies to make it easier to park safely and properly without doing damaging your own or other vehicles. While parking sensors are the most commonly used type of sensors in a vehicle, there are many manufacturers that are carrying other sensors that include speedometers, pressure sensors, throttle position sensors, knock sensors and even oxygen sensors. All of these sensors add to the safety, efficiency and longevity of the car.
Walt Capell started General Liability Shop.com in 2005. General Liability Shop.com is a rapidly growing national insurance agency with a strong reputation for forward-thinking, out-of-the-box products and solutions for business owners. Walt would like to use his experience as a small business owner and insurance expert to benefit the next generation of leaders.