Soon, you may face additional motor insurance premium for violating traffic rules2 min read . Updated: 19 Jan 2021, 10:12 PM IST
The committee has recommend inserting a fifth section to motor insurance called, traffic violation premium, in addition to motor own-damage (OD) insurance, basic third-party (TP) insurance, additional third-party insurance and compulsory personal accident premium
The working group committee set up by the Insurance Regulatory and Development Authority of India (Irdai), to examine and recommend the linking of motor insurance premiums with traffic violations, submitted its report and addendum, on 18 January.
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