Automobiles are much in the news lately with the soon to be coming onslaught of self-driving vehicles. To say the least they are controversial. For insurance they are a nightmare in the potential for income and claims loss.
Self-driving vehicles are also dangerous when one of them is operated by someone not paying attention to what the vehicle is telling them. The deaths of several people during experimental driving prove that fact.
That people may not understand a vehicle that drives itself led the insurance search engine The Zebra to poll 5,000 people and ask them what they know about their ordinary cars and trucks when a warning light pops up.
The researchers started with these questions:
• As of 2016 there were 222 million licensed drivers in the U.S.
• There were 263.6 million registered vehicles
• What do we know about the three most common and important warning lights?
• Tire pressure warning light
• Coolant temperature warning light
• Oil pressure warning light
Here’s what was found:
• 73% of Americans don’t know what their oil pressure warning light means
• 40% don’t understand the coolant temperature light
• 30% don’t understand the tire pressure warning light
The next step in the questioning is how long does it take us to deal with a warning light when one pops up. The answers are kind of shocking:
• Same day — 19%
• Within a week — 34%
• Within a month — 10%
• Never — 11%
• I’ll fix it myself — 23%
Waiting too long is costly.
Here’s what The Zebra says ignoring these lights can run in terms of dollars:
• Oil pressure problems start at $500 and work their way up
• Waiting longer than a month could end up with the need for a new engine. It can run $2,000 to $4,000
• Coolant temperature warnings — if you wait too long — can again end up in total engine failure and a price tag of $2,000 to $4,000
• Tire pressure problems aren’t quite as expensive but tires aren’t cheap and neither are rims of a rim ends up being damaged
The conclusion? It’s obvious. The faster you respond, the less problems and the lower the cost of repairing the vehicle.
Source link: PropertyCasualty360.com