With a new decade fast approaching, everyone is wondering what the new year will bring. This includes for those with car insurance in Salt Lake City who are curious about what 2020 could look like for car insurance.
Of course, no one knows exactly what could happen, but we’ve prepared some interesting insight into what car insurance trends could look like in the coming months and years.
Faster claims process
With more insurance companies utilizing AI for insurance claims, the claims process is predicted to move faster as this technology develops. This is good news for drivers who are looking to get their car insurance claim money as quickly as possible.
With the increased use of technology can come an increased risk of cybersecurity issues. Expect car insurance companies to utilize additional security measures to help protect their clients, including the utilization of blockchain technology.
More personalized premiums
Thanks to more efficient and effective data collecting methods, insurance companies can gain useful insight into their clientele. This information is incredibly useful in determining risk level, which in turn helps insurance companies personalize policies for their clients. Not only is this beneficial for policyholders who aren’t looking for a “one size fits all” approach, but it can also increase brand loyalty.
With the increased use of ridesharing services like Uber has come the need for special insurance for drivers who use their vehicles for these purposes. As time goes on, more and more insurance companies are expected to begin offering coverage for ridesharing drivers.
Insuring self-driving vehicles
While the day every car on the road is self-driving may not be in this coming year or decade, it is still something that insurance companies and drivers alike need to consider. Over time, car insurance companies will need to modify their coverage to include protection for self-driving vehicles. However, exactly what this will look like is debated across the industry.
If you’d like to learn more about car insurance in Salt Lake City and how to find the best coverage this year or beyond, give ASA Insurance a call today!