BusinessWire India
Mumbai (Maharashtra) [India], December 21: Kotak General Insurance, a trusted name in the general insurance world, is highlighting the warning issued by the Insurance Regulatory and Development Authority of India (IRDAI) regarding the impact of bad driving on insurance premiums. Kotak General Insurance targets to raise awareness about the potential consequences of reckless driving on insurance costs with a focus on promoting safe driving practices and responsible behavior on the roads.

The IRDAI has emphasized that driving behavior of policyholders influences their insurance premiums. Individuals face higher insurance costs with a history of accidents and traffic violations. This initiative by the IRDAI targets to encourage policyholders to adopt safe driving practices, prioritize road safety and reduce the financial constraints associated with insurance premiums.

Kotak General Insurance guides policyholders to consider the following factors that can influence their insurance costs:
* Accident history
Policyholders with a history of accidents are considered high-risk. Premiums for individuals who have been involved in multiple accidents may increase. It is crucial for policyholders to drive cautiously, follow traffic rules and practice safe driving techniques to minimise the risk of accidents and subsequent premium hikes.
* Traffic violations
Frequent traffic violations can significantly impact insurance premiums; for example, speeding, reckless driving and running red lights. These violations are viewed as indicators of risky driving behavior. Policyholders should comply with traffic laws and regulations to maintain a clean driving record and avoid unnecessary increases in insurance costs.
* Claims history
Frequent claims can signal a higher probability of future claims, leading to high insurance premiums. Policyholders who frequently file insurance claims may experience higher premiums. It is recommended for policyholders to exercise caution and file claims only for substantial damages or losses, while taking steps to prevent avoidable incidents.
* Driving experience
Newly licensed drivers or individuals with limited driving experience may face higher insurance costs due to their higher risk profile. Insurance premiums are often influenced by the driving experience of the policyholder. Insurance premiums likely decrease over time as drivers gain more experience and maintain a clean driving record.

Kotak General Insurance encourages policyholders to adopt safe driving practices and maintain a responsible decorum on the roads. Individuals can not only contribute to their own safety but also enjoy the benefits of lower insurance premiums.

Policyholders are advised to contact Kotak General Insurance to understand the specific factors that influence their insurance premiums and seek guidance on adopting safe driving practices.
For more information on Kotak General Insurance's motor insurance portfolio and coverage options, please visit Kotak Bike Insurance.
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