Motor insurance: What policyholders need to know about the regulator’s new measures
If you get penalised for bad driving, your motor insurance premium will go up
November 29, 2019 / 04:49 PM IST
The motor insurance space is set for a significant overhaul. The Insurance Regulatory and Development Authority of India (IRDAI) has announced a slew of measures that are expected to change the motor insurance landscape of India. Here, we discuss some of the regulator’s announcements and their impact on policy holders.
Insurance premium linked to driving habits
Your motor insurance policy’s premium will now be determined by your driving habits. If you drive well and avoid traffic violations, your premium will remain...