Driverless Trucks, Soaring Premiums, and the Future of Fleet Insurance

Fleet auto insurance renewals have just been one nightmare after the next.  Double digit increases even for fleets with sterling safety records have insureds crying "UNCLE" or punching the walls (hopefully not their insurance agents) with frustration.  Poor auto insurance loss ratios are impacting the umbrella market in a big way with fewer carriers willing to take on large umbrella limits.  This requires more carriers to maintain umbrella limits which also drives up the cost.  Insureds are making huge investments in GPS tracking, camera systems, and driver training to try to curb those costs.  They are often disappointed with the impact those systems have on their insurance premiums (though they do make for safer fleets in the long run).  

Odds are you know someone who has taken a ride in a driverless Waymo or used Tesla's Autopilot.  We are now seeing that technology deployed with large trucks.  Will this have an impact on auto insurance premiums?  The short answer is absolutely.  But, maybe not in the way you think it will.  

https://www.insurancebusinessmag.com/us/news/auto-motor/driverless-trucks-are-here--and-insurers-are-bracing-for-the-fallout-551127.aspx?hsmemberId=1050895&tu=EA201FB8-9424-4782-AA57-749581337AA2&utm_campaign=&utm_medium=20250926&_hsenc=p2ANqtz-_cntXd7c-OohQfXxdomQQmQSVf0bOYQMpcNZQQ7VaxeC0BZiBENZfKbJYPXR2V_Pzx8LWFm2hw8tp0CusaKA65NwgMjg&_hsmi=382451301&utm_content=EA201FB8-9424-4782-AA57-749581337AA2&utm_source=

Here is a great article in Business Insurance about the questions that still remain with the dawning of driverless truck fleets.  With driverless vehicles comes new risks.  Cybersecurity is a big one.  Moreover, the truck may drive itself, but it will not be able to fix itself.  Repair and maintenance solutions will be even more critical for a driverless fleet.  Finally, no one should expect insurance carriers to just jump into the deep end of the pool without a LOT of observation and experience.  Driverless cars may be coming fast, but no one should expect insurance carriers to change anything they do without a lot of time and study.  

In the meantime, fleet operators need to use every tool at their disposal to operate and maintain a safe fleet.  That is only way to curb your future auto insurance premiums for the short term.