New Volvo Technology Garners Early Auto Insurance Discount

Nov 01

New Volvo Technology Garners Early Auto Insurance Discount

Volvo has released a hi-tech car with a to-die-for safety feature that reduces auto insurance by 20 percent. The XC60 softroader is said to dramatically reduce the likelihood of a low-speed, rear-end crash because of its collision avoidance technology, which in turn increases its ability to keep you safe – a huge insurance plus.

Volvo’s Accident Avoidance Technology

The new technology is a form of accident avoidance technology known as City Street. It can automatically detect an oncoming vehicle and take action accordingly. According to Volvo, at a speed of up to 10 mph, the system can avoid an accident altogether, and between 10 and 20 mph, the likelihood of an accident can be significantly reduced.

The technology works by using a laser sensor in the windshield that detects if the car is at risk of hitting the vehicle in front of it from behind. The system can make up to 50 calculations to determine how much brake force should be applied to avoid a collision.

Auto Insurance Reductions

While most insurance companies wait a while before rewarding discounts to new technology, National Roads and Motorists’ Association (NRMA) Insurance in Australia has already granted an early discount. The company has noted its confidence in the technology’s ability to keep drivers safe. As a result, drivers of the vehicle get a 20 percent discount.

So far, NRMA’s risk is one other insurers aren’t yet willing to take. But with such impressive technology, there’s no harm in purchasing the car for its safety features now and enjoying its inevitable auto insurance discount in the near future. Anyway, you can always take advantage of other great ways to save on auto insurance in the meantime.

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