In future, Insurance Companies might fix the premium based on how an Individual drives his/her four-wheeler. So, How you drive and how many accidents you are involved in matters..!
Insurance Regulatory and Development Authority (IRDA) constituted a 9-member Panel to come up with specific guidelines to link Insurance Premiums with Traffic Violations. Committee was formed following the direction from the Home Secretary. This Report will be submitted to the IRDA within two months.
Linking Insurance Premiums with Traffic Violations wasn't done successfully by the developed nations. This is for the first time a concrete measure has been taken in India in that direction. If this rule was implemented, Traffic Violations of all Vehicles will be transferred to the database of Insurance Information Bureau of India (IIBI).
Until now, Insurance Premium used to depend on the kind of vehicle and engine capacity. This might change very soon if the new proposal get approval. Any such rule could motivate People to drive in a responsible manner.