Insurance costs sliced for good drivers

Beijing car owners with a clean driving record would have their insurance costs cut by up to 60 percent and save more than 2,000 yuan under draft guidelines released yesterday.

Policyholders who have not had an accident would receive a discount of 30 percent on insurance costs the following year, according to the draft version of the Guidelines on the Flexible Insurance Fees for Commercial Vehicles in Beijing.

The driver will receive up to a 60 percent discount if the clean record is maintained, under the draft drawn up by the Beijing Insurance Association, which oversees insurers in the city.