A U.S. Department of the Treasury report states that personal auto insurance premiums in 2023 were about USD 318 billion (i.e. ~35.8% of the U.S. property & casualty insurance market). 
• Another source (AgencyChecklists) puts U.S. direct premiums written for private passenger auto in 2024 at USD 344.11 billion 
That's a great metric! Presumably it includes some unrelated costs (e.g. theft), but I imagine this is greatly outweighed by the full human toll of accidents not being covered by insurance – as well as vehicles other than personal automobiles.
, which insurance companies are required to report every year. Drivers who do not carry insurance are, by law, driving illegally. When we think about this in the context of autonomous vehicles, the situation becomes even more complex. If I am not actively driving my car, I should not be held personally responsible for accidents that occur. In that case, the liability might reasonably shift to the manufacturer or the operating system of the vehicle. Theft could also become a manufacturer or insurer issue since modern vehicles are packed with sensors, while vandalism might be handled through public programs funded by vehicle-related taxes (when purchased).
The total premiums collected each year are enormous (you can buy some countries with it), which likely creates pressure from large insurance companies to resist regulatory change that could reduce their revenue.
Finally, if I purchase a new autonomous vehicle, I should only have to pay insurance premiums when I disable autopilot and assume control. Insurance could be billed by the hour or by usage rather than as a flat annual rate. This approach would encourage the adoption of safer autonomous and electric vehicles, supporting national goals to transition toward full electrification of the fleet. Countries like China are already moving in this direction, where companies such as BYD include advanced autopilot features as a standard part of the vehicle package.
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A U.S. Department of the Treasury report states that personal auto insurance premiums in 2023 were about USD 318 billion (i.e. ~35.8% of the U.S. property & casualty insurance market). 
• Another source (AgencyChecklists) puts U.S. direct premiums written for private passenger auto in 2024 at USD 344.11 billion 
That's a great metric! Presumably it includes some unrelated costs (e.g. theft), but I imagine this is greatly outweighed by the full human toll of accidents not being covered by insurance – as well as vehicles other than personal automobiles.
Not exactly. These numbers represent
private passenger auto insurance
, which insurance companies are required to report every year. Drivers who do not carry insurance are, by law, driving illegally. When we think about this in the context of autonomous vehicles, the situation becomes even more complex. If I am not actively driving my car, I should not be held personally responsible for accidents that occur. In that case, the liability might reasonably shift to the manufacturer or the operating system of the vehicle. Theft could also become a manufacturer or insurer issue since modern vehicles are packed with sensors, while vandalism might be handled through public programs funded by vehicle-related taxes (when purchased).
The total premiums collected each year are enormous (you can buy some countries with it), which likely creates pressure from large insurance companies to resist regulatory change that could reduce their revenue.
Finally, if I purchase a new autonomous vehicle, I should only have to pay insurance premiums when I disable autopilot and assume control. Insurance could be billed by the hour or by usage rather than as a flat annual rate. This approach would encourage the adoption of safer autonomous and electric vehicles, supporting national goals to transition toward full electrification of the fleet. Countries like China are already moving in this direction, where companies such as BYD include advanced autopilot features as a standard part of the vehicle package.
https://home.treasury.gov/news/press-releases/jy2797