Pay-as-you-drive policies show a maturing insurance market
SummaryPay-as-you-drive will be based on the kilometres covered annually and presumably declared upfront and tracked through technology
New Delhi: In many countries, the cost of insurance for owner-drivers of red-colour cars, the fast-speed varieties especially, tends to be higher because it's a giveaway for a risk-taking personality. The record for the number of speeding tickets and other traffic rules violations further help in forming the profile for assessing insurance costs. The point is that a safe owner-driver should in fact pay less for insurance than habitual violators, less safe drivers.