Warren Buffett: Driverless cars will dramatically reduce insurance premiums

By now, the question for driverless cars is when, not if. For Warren Buffett, CEO of Berkshire Hathaway (BRK.A, BRK.B), which owns Geico, that prompts the question: what does this mean for car insurance?

In an interview with Yahoo Finance, Buffett mused that this technological revolution would likely mean less auto insurance required.

"Driverless cars will reduce — perhaps dramatically — the need for auto insurance if they’re safer," said the legendary investor and CEO. "If driverless cars are successful and people don’t hack into ’em, that will reduce auto insurance premiums — and perhaps drastically reduce them."

Ethan Wolff-Mann

https://finance.yahoo.com/news/buffett-driverless-cars-will-dramatically-reduce-insurance-premiums-135234702.html