And you absolutely should shop around for car insurance. What we've learned in preparing this report is that once a company has you, they're more than happy to raise your rates, a bit here and a bit there, or maybe even quite a bit. They're hoping you won't notice, won't question, or they're relying on inertia that you'll just sort of let things slide and stick with the status quo. Car insurance companies also will not check your premiums on a regular basis to see if changes in the industry or pricing algorithms which happen with surprising frequency might result in a lower rate if applied to your circumstances. That means you have to do your own homework. Comparing auto insurance companies isn't quite like looking at physical products, like vacuums, simply because there are so many variables. Customer reviews aren't easy to come by, and many people only post complaints, not compliments. However, J. D. Power and Associates conducts several large satisfaction surveys that are helpful in choosing the best car insurance companies. ConsumerReports.
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Additionally, insurers may find these new data classes to be hugely valuable in building new customer experiences and offering value added services, such as coupons, smart routing, or other benefits directly or through third parties. Along with analytical expertise, insurers should develop technological and operational capabilities to handle the challenges of insuring tomorrow’s self driving cars. A range of companies are testing autonomous vehicle technologies, but no standard has emerged for the hardware and software components that comprise these systems, meaning that multiple systems or standards could potentially coexist in the marketplace. Each hardware and software configuration may vary in performance and, by extension, have a unique risk profile. Hardware components may have different failure rates and performance capabilities, and older models may perform worse than newer ones. Autonomous vehicle algorithms and software may perform at different levels depending on road or weather conditions.