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Explained: How Jumping A Red Light Could Affect Your Motor Insurance Premium


Explained: How jumping a red light could affect your motor insurance premium 
The higher and graver the number of violations, the higher the premium. So, customers will end up paying anywhere between Rs 100-750 for two-wheelers and Rs 300-1,500 for four-wheelers/commercial vehicles as an additional premium. The new system is first proposed to be tried out on a trial basis in the National Capital Territory of Delhi region.
Car insurance
To ensure that errant vehicle owners who break traffic rules often are penalised, a panel set up by the insurance regulator has proposed a new ‘traffic violation premium’ that will be added to the motor insurance product. ....

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Link traffic offences with insurance premium: IRDAI committee


Link traffic offences with insurance premium: IRDAI committee
​ By
Venkatachari Jagannathan ( IANS)
|
Published on
​ Tue, Jan 19 2021 19:12 IST
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​ 0 Views
Link traffic offences with insurance premium: IRDAI committee. Image Source: IANS News
Chennai, Jan 19 : Fined for parking in the no-parking area a couple of times? Be ready to pay an increased insurance premium for the traffic violation.
But don t ask how parking in no-parking area would increase the accident rate and the claims outgo for the insurers.
A Working Group set up by the Insurance Regulatory and Development Authority of India (IRDAI) submitted its report on Monday, recommending linking of motor insurance premium to various traffic violations that ranges from parking in no-parking areas to drunken driving. ....

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