Many people assume that the new features added into cars are helping to cut down on insurance costs as well. However, a recent NerdWallet analysis found that things like handsfree parking and automatic braking are not making a difference by helping people with insurance costs.

With more vehicles hitting the road having these safety features automatically installed, it would have been expected that car insurance rates would decrease along with the number of accidents; however, the cost of accidents as well as the premiums paid for auto insurance have been on the rise in recent years. Information from the Federal Consumer Price index indicates that car insurance prices increased by 0.9 % across 2017 and another 7% in 2016. These were the biggest increases on an annual basis since 2002.

One of the major reasons that insurance premiums have still been so high is that a lot of cars are still on the road. This means that even when new safety features are coming out as standard on new vehicles, it will take time for them to reduce crashes and make a dent in the accident rate. As smarter cars become commonplace in the market, drivers must adjust how they interact with their vehicles to ensure that safety is a top priority. 

The average age of vehicles on roads in the United States is beyond 11 years, making it more likely for accidents to occur. Since a better job market and the economy is putting people on the road more often, more individuals are adding miles on those vehicles too. Are smarter cars really helping the driver, or are they pulling attention away from the road?

The miles driven between January and September of 2017 were up by 1.3% overall, compared with the same period across 2016. More mileage also means more accidents and more accidents can lead to a higher number of drivers ultimately filing insurance claims and driving up the cost of auto insurance overall.