Insurance premiums needs to be risk based and rationalised

My suggestion to Insurance regulatory and Development Authority on 25.09.2021 

1. Insurance premium  is same for vehicles which run 1000- 2000 km in a year or 10000-30000 km in a year. This is illogical.

Suggestion;

 Insurance premium should be less for vehicles with less usage and higher on vehicles with higher usage. Vehicles with lesser usage are mostly run within city . For outstation travel we use public transport . More fatalities in accidents occur on highways. Hence there should be rebate in insurance on vehicles with lesser usage say upto 2000 km per year.

2. There are people owing more than one vehicle but only one is on road on any day. Hence there should be one insurance for all vehicles for people having more than one vehicle.