The South Carolina automobile insurance industry functions and maintains its profitability by accurately judging the average risk faced by any given vehicle it insures as much precision as it can. The company then determines how much money it should take to pay for all the accidents that will statistically occur that year, then makes their profit by charging higher monthly premiums than they need to cover the liability and risk. Now this entire system may be at risk, because self-driving cars have extremely low accident rates.
Some self-driving car manufacturers believe that they may be able to eliminate automobile injuries, related to their vehicles completely. The effects that this may have on the automobile insurance industry are not known, but it is likely to be enormous. Some industry groups predict that the automobile insurance business could shrink by as much as 60 percent by 2040.
Self-driving cars will still be insured, as they are regulated by the rules of the road, but manufacturers have experimented with self insurance. This means that the vehicle is insured by the company that built it, and the driver has no responsibilities or liability. The company directly pays for claims relating to accidents caused by or contributed to by their autonomous vehicles.
Anyone who has been in an accident with such a vehicle has the right to expect full compensation for the harm done to them and their property. If the company refuses to provide fair redress, or if the amount offered is too little, then it may be useful to consult an attorney. The attorney may be able to guide the plaintiff as they formulate and file a civil suit seeking restitution.