'Pay As you Drive' Insurance Policy: Explained







Wait! Check this out before you purchase a car insurance policy!


“Pay As You Drive” Insurance Policy: What is it?


Check this out! There is a new car insurance policy emerging in India


“Pay As You Drive”: A new car insurance policy in India!



Do you own multiple cars?

Or do you hardly use your car?


Then, Why should you pay the same amount of premium as others who drive more kms?


Let’s look at this scenario


Person A drives his Celerio VXI, 2500 kms a year and pays X amount of premium.

Whereas,

Person B drives the same car but more than 5000 kms and pays the same amount like person A


Don’t you think there is something over the odds?


Yes, it is not!


To make this fair, under the Sandbox project, insurance companies like Acko, Bharti AXA, ICICI Lombard proposed “Pay As You Drive” insurance type to The Insurance Regulatory and Development Authority of India (Irdai) and got approval.


The result,


Insurance companies come up with 3-4 slabs based on kms you expect to travel a year. These policies are now available on their official websites, you can purchase them!


So, what if you exceed the slab?


You can anytime upgrade your slab contacting your insurer.


No need to drive down to the service center for car maintenance

Service Geni provide car maintenance service at your doorstep


Kilometer Matters!




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