Risky Drivers To Pay More Auto Insurance

Risky Drivers To Pay More Auto Insurance

Reckless drivers may end up paying more for their future motor insurance following the liberalisation of motor insurance tariffs which takes effect on July 1.

According to Perbadanan Insurans Am Malaysia (Piam), the premium will be determined by risk factors which include the driver’s age and gender, the vehicle’s age, claims record and even traffic violation history.

“The traffic violation records and history of a motorist will certainly be of interest to insurers,” said Piam chief Mark Lim.

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“It is one of the risk profiling factors which will be considered in the pricing of the insurance premium.”

This means drivers with a lower risk-profile enjoy lower premiums.

Separately, the association found that studies in developed countries showed that women generally have safer driving habits than men.

[Source]

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