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Proposed Safety Ratings For Cars To Affect Insurance Premiums
The government is planning on rating cars based on how safe they are. This is similar to how electric appliances are star rated based on their energy efficiency. Furthermore, when introduced, the safety rating of a car will determine the insurance premium on it.
Cars with lower safety rating will attract higher insurance premium and vice versa. Such road safety mechanisms are already in place in European nations where insurance premium on a car is determined based on its NCAP rating.
Related: Crash Testing Of Cars To Be Made Mandatory In India
Introduction of safety rating will not only encourage buyers to choose cars that are safer, but will also compel manufacturers to make their cars safer.
The task of introducing and enforcing of safety ratings for cars will lie in the hands of the Ministry of Road Transport & Highways, which will also include setting up of standards. Details about lower insurance premiums will be discussed with the Insurance Regulatory and Development Authority (IRDA).
Related: Four Indian Cars Get Zero Rating In Crash Test
Safety ratings is still a temporary solution to the big problem. A problem that was highlighted when four out of five Indian built cars failed miserably in crash tests conducted by Global NCAP, bring to the forefront, the acute lack of strong car safety standards in India.
The actual safety standards & measures will be put in place when NCAP-type safety norms are implemented. This will take time because it involves setting up of new crash test standards and new facilities to carry out these tests. Something that's officially expected to be ready in 2015, but could take longer.