Breaking traffic rules is expensive! Get the penalty going along with enforcing this procedure
The working group of IRDAI has recommended to introduce traffic violation premium in motor insurance premium along with loss, third party compensation and other types of insurance premium. Under which people violating traffic rules will have to pay higher premiums for their vehicle insurance.
Bad driving will be heavy
Need to follow traffic rules
Insurance policy policy will be changed, recommendation to add a fifth section
The working group of IRDAI has recommended adding a fifth section for it in motor insurance
addition to motor self-loss, basic third party insurance and personal accident insurance premiums, traffic violation premiums are also included in motor insurance, the IRDAI group said.
Will be determined on the basis of penalty points
The person in whose name the traffic violation premium vehicle is registered will take full responsibility. Driving under the influence of alcohol will result in a 100 point fine. When parking in the wrong place will take a 10 point fine. The amount of premium will be linked to this penalty point.