Older vehicles are not only more hazardous but also carry a greater risk of breakdowns and accidents. They also lead to more pollution. In this piece, we take a look at whether a scrappage policy can affect your car insurance premium.
The scrappage policy aims at taking old vehicles off the roads. Vehicles beyond an age are compulsorily to be scrapped under the statute. Such policies currently exist in some states in differing forms. The national-level policy that is now being envisaged contemplates a 15-year life span for vehicles.