$133 a month is the average cost of car insurance.
$1,596 a year
$57,000 a year is the average income of working Americans.
$31,000 is the average factoring in people not working.
For a full time American, car insurance should be 2.8% of their income.
For the average American, it’s 5.1%.
And that’s just the average.
Driver has an accident which was their fault?
$2,439 a year
Driver has bad credit?
$2,812 a year
Driver had a DUI?
$3,114 a year
Important thing to know here is statistically, people who’ve had accidents, have bad credit and had a DUI are more likely to be lower income or unemployed.
Car insurance can be very expensive for a large percentage of people.
And the biggest one, younger drivers.
Adding a teenager to a families car insurance plan has an increased cost of 152%.
People under 25 are one of the highest cost groups for car insurance, where in many states, it’s more expensive for that demographic to buy over people who’ve had a DUI.
Car insurance is really expensive.
Self driving cars are in a position where they will likely make it so people no longer need to buy car insurance and if damage happens, the software provider covers it.
2.2% of drivers have had a DUI.
16% of Americans have bad credit.
77% of drivers have had at least one accident.
24 million drivers are under 25.
This puts a realistic situation that people just opt for self driving and skip car insurance.
I think I saw Elon musk’s brother in Denver Colorado the other day I posted a photo please check it out!
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