Aussies to need car insurance for self-drive vehicles in 2014

Some Aussies may be looking for car insurance policies for automobiles that drive themselves in as little time as three years.

BMW plans to put its electric-petrol i8 hybrid sportscar into production in 2013 with a view to selling them in Australia the following year, reports the Herald Sun.

However, the car insurance premiums may be quite high for the vehicles, as BMW sales and marketing boss Ian Robertson asserted that the machines could sell for as much as $300,000.

Despite this, those who decide to invest in one may be able to enjoy more stress-free journeys as the cars do most of the work for them.

The machines will be able to brake, accelerate and steer by themselves when travelling at up to 40 kmph.

This is achieved through the use of sensors, cameras and radar, which enables them to monitor and follow traffic.

Another technological advance that could soon be available to drivers and which may reduce claims on car insurance is an app developed at the University of Bologna.

It was designed to automatically notify other cars in the area when there is a pile-up or crash, which could prevent other vehicles from becoming involved.ADNFCR-1761-ID-800690222-ADNFCR