Insurance…of the future!

2020. The literal start of a new era. Most people thought we’d be living in a The Jetsons style future by now, but Elon Musk can only work so fast. That doesn’t mean we’re lacking some really futuristic inventions currently. It just means we have more time to prepare for futuristic risks. For example:

Insurance…of the future!

1. Electric and autonomous cars.

Self-driving cars aren’t road legal yet, but they are surrounded by risky questions: What if the car malfunctions? Or hits a pedestrian? Are you responsible for a wreck or is the manufacturer? These are dangers that may have to be added to collision, comprehensive, or liability coverage.

2. Cyborg and robot insurance

We’ve already got cyber insurance coverage to deal with computer hackers. In the future, though, cyber-attacks could include malfunctioning robots, hacked hoverboards, AI companions that try to take over the world…stuff like that. So, we may have to adjust this technical coverage a bit.

3. Teleportation insurance

Everyone has wished, at one time or another, that they could poof!, then be right where they needed to be. That requires a LOT complex tech, though – which means a LOT of things that could go wrong. So, we might need to think about teleportation liability, kind of like home insurance liability, but for things like crossed transfer signals, split matter, wrongful atom reorganization, etc.

4. Flying vehicle insurance

We dream about flying cars, but no one thinks about how much more dangerous a 70+ mph, several-ton vehicle is IN THE SKY. In the future, maybe comprehensive coverage could help cover damage to your car from flying animals. But would your liability and medpay take on injuries from a crash AND/OR hitting the ground? We guess we’ll cross that bridge when we come to it.

5. Space travel and colonization

Countries have been working on regular space travel and housing for decades, and we’re well on our way to it. Still, this prospect opens up a gigantic can of intergalactic worms when thinking about risks to cover. What if a meteor hits your space house? Or your loved one’s spaceship gets sucked into a black hole? Or your air filtration system goes down, exposing you to toxic space dust? Then, your home insurance rates may have to consider your location in the galaxy, not just within your state.

No one knows quite what the future holds. Nonetheless, our insurance agents are pretty great at getting you cheaper rates on coverage that can help you handle anything that comes your way. Find out how by sliding into those DMs and getting a quote!