April 11, 2017 in Daily Bulletin
All the additional safety features cars are coming with are perversely making them more expensive to insure wrote Christina Rogers and Leslie Scism:
- Accident prevention systems require advanced sensors, microprocessors and other hardware. If an accident takes place, they’re expensive to replace.
- These sensors are often located in places like the bumper or on external mirrors – areas most likely to get damaged in an accident.
- For example: it costs $166 to replace a normal side mirror on a 2015 Mercedes-Benz ML350, but $925 to replace one with anti-collision technology.
- Insurers are passing this cost on. When one buyer replaced a 2015 model of a car with a 2017 version he saw his insurance quote increase by 20%.
Read more on The Wall Street Journal
Via: Marginal Revolution