It’s an unfortunate fact that road accidents lead to approximately 1.5 lakhs causalities in India every year. Though accidents can take place due to several reasons, bad road manners and disobeying the traffic rules remain the most common mistakes. Therefore, in an attempt to reduce the accident cases due to violation of traffic laws, and encourage good traffic manners, the transport department is planning to come up with a strict rule against all traffic offenders. According to a Times of India (TOI) report, the transport department is planning to recommend higher car insurance premium to the Insurance Regulatory and Development Authority (IRDA) to penalize the individuals with bad traffic record. On the other hand, the transport department has also recommended a cut-back in car insurance premiums for those with good traffic manners.
So if you abide by the traffic laws and manage to keep yourself away from the mishaps on road for good 5 years, you will be rewarded with attractive incentives in the form of lower four wheeler insurance premiums.
Moreover, the transport department is also planning to keep a check on your car insurance coverage to find out whether you are renewing your policy on a timely basis. It is planning to link the vehicle database with IRDA database using the newly introduced Vahan software. The computer-linked data will enable the department to discover car owners who don’t have insurance coverage or have not renewed their existing car insurance in time.
According to the report, the department may … Read More . . .