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VMPL
Mumbai (Maharashtra) [India], October 25: Zurich Kotak General Insurance, an insurer highlights the impact of traffic violations on your car insurance rates. India's initiative on road safety has led to strict traffic laws and hefty fines for violations. However, few drivers realize the long-term impact of traffic violations on their car insurance rates. Impact on India's roads Annually, over 150,000 fatalities are witnessed, making road safety a major concern. To cope up with this trend, the government has implemented strict laws including increased fines and penalties for traffic violations. Common traffic violations and their fines Here are some common traffic violations and their impact in India: - Over-speeding: Up to Rs. 1,000 - Rs. 5,000 is fined for over-speeding on the road. - Drunk driving: A hefty fine of Rs. 10,000 is charged and/or imprisonment of up to 6 months. If the offence is repeated within a year, the fine can rise to Rs. 15,000 along with imprisonment of up to 2 years. - Red-light jumping: Up to Rs. 5,000 - Rs. 10,000 is fined for jumping red-light. - Driving without license: Individuals driving without license need to pay Rs. 5,000 and/or need to serve the imprisonment of up to 3 months. While these fines and penalties focus to promote road safety, they also have a major impact on car insurance rates. How does traffic violation in India impact car insurance rates? A traffic violation in India can significantly increase the insurance premiums, higher deductible rates, etc. The seriousness of the violation determines the extent of the impact. There are other factors like driver's history, number of violations or accidents, severity of violation while determining car insurance premiums. The final note Indian drivers must prioritize road safety and follow the traffic rules strictly to avoid any financial consequences in the future. Drivers's can maintain a clean driving record and ensure affordable premium coverage by understanding the impact of traffic violations and taking proactive steps. About Zurich Kotak General Insurance Company (India) Limited (Formerly known as Kotak Mahindra General Insurance Company Limited) Zurich Kotak General Insurance Company (India) Limited is a 70:30 joint venture between Zurich Insurance Group and Kotak Mahindra Bank. The Company got its new name ''Zurich Kotak General Insurance Company (India) Limited'' in the month of August 2024, following Zurich Insurance Group's 70% acquisition in Kotak Mahindra General Insurance Company Limited. It is the youngest and one of the fastest growing non-life insurance franchises in India. Kotak General Insurance was established in 2015 to service the growing non-life insurance segment in India. The company aims to cater to a wide range of customer segments & geographies offering an array of non-life insurance products like Motor, Health, Home etc. As a practice, the company seeks to provide a differentiated value proposition through customized products and services leveraging state of art technology and digital infrastructure. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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