{"id":1285736,"date":"2024-09-29T14:07:10","date_gmt":"2024-09-29T08:37:10","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1285736"},"modified":"2024-09-29T14:11:49","modified_gmt":"2024-09-29T08:41:49","slug":"delhi-lg-suggests-linking-insurance-premium-with-traffic-offense","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/delhi-lg-suggests-linking-insurance-premium-with-traffic-offense\/","title":{"rendered":"Delhi LG Suggests Linking Insurance Premium With Traffic Offense"},"content":{"rendered":"\n

Delhi lieutenant governor VK Saxena has urged the Union finance minister Nirmala Sitharaman to link vehicle insurance premiums<\/a> to the number of recorded traffic offences as a measure to deter traffic violations.<\/p>\n\n\n\n

\"Delhi<\/figure>\n\n\n\n

Proposal to Link Vehicle Insurance Premiums to Traffic Offenses<\/strong><\/h2>\n\n\n\n

While suggesting the same, the lieutenant governor cited various countries like United States and few European nations who have already implemented this system.<\/p>\n\n\n\n

In his letter, he wrote, \u201cI would like to suggest for your consideration that insurance premium should be index linked with the number of traffic violations recorded against a vehicle, which would have a salutary impact on road safety and traffic discipline\u201d.<\/p>\n\n\n\n

As per the data from the ministry of road transport and highways (MoRTH), India witnessed over 4.37 lakh road accidents in 2022, which eventually lead to approximately 1.55 lakh fatalities.<\/p>\n\n\n\n

For as many as 70% of the cases, it was the over speeding which was the culprit. Additionally, violating the red-light also played a major role in fatal incidents.<\/p>\n\n\n\n

Tiered Insurance Premiums to Curb Traffic Accidents<\/strong><\/h2>\n\n\n\n

Citing the analysis of accident data by the World Bank, Saxena highlighted that the vehicles that have multiple traffic violations have a 40% higher risk of being involved in fatal crashes compared to those with a clean driving record.<\/p>\n\n\n\n

He further cited the data from a 2023 report from the Delhi Traffic Police, which indicated that 60 percent of fatal road accidents involved vehicles that had previously been fined for traffic violations, mainly over-speeding and red-light jumping.<\/p>\n\n\n\n

He added that \u201cThere is an obvious correlation between repeat traffic offences and the risk of accidents. I would therefore suggest that a layered insurance premium system based on the frequency and severity of traffic violations as recorded in MoRTH’S VAHAN database may be introduced. A vehicle that has been frequently challenged for offences such as over-speeding, red light jumping and dangerous driving should be obligated to pay the higher insurance premium\u201d.<\/p>\n\n\n\n

Saying that the financial deterrent would encourage better driving behaviour, Delhi LG cited countries like United States, where insurance premiums can rise by 20 percent to 30 percent due to traffic violations and speeding tickets.<\/p>\n","protected":false},"excerpt":{"rendered":"

Delhi lieutenant governor VK Saxena has urged the Union finance minister Nirmala Sitharaman to link vehicle insurance premiums to the number of recorded traffic offences as a measure to deter traffic violations. Proposal to Link Vehicle Insurance Premiums to Traffic Offenses While suggesting the same, the lieutenant governor cited various countries like United States and […]<\/p>\n","protected":false},"author":26,"featured_media":1285819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6210,753,6211],"class_list":["post-1285736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-delhi-lg","tag-insurance","tag-traffic-offenses"],"acf":[],"yoast_head":"\nDelhi LG Suggests Linking Insurance Premium With Traffic Offense - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/delhi-lg-suggests-linking-insurance-premium-with-traffic-offense\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Delhi LG Suggests Linking Insurance Premium With Traffic Offense - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Delhi lieutenant governor VK Saxena has urged the Union finance minister Nirmala Sitharaman to link vehicle insurance premiums to the number of recorded traffic offences as a measure to deter traffic violations. 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