Summary:
Gurgaon, Haryana, India (NewsVoir) Policybazaar.com, through its insurer partners Reliance General Insurance, Kotak General Insurance, and GoDigit General Insurance, now offers exciting Pay As You Go car insurance plans on its website.
The Pay As You Go motor insurance add-on was recently announced by IRDAI to help make products more user-friendly and cost-effective for customers.
In this innovative category, Policybazaar offers a plan by Reliance that allows users to buy insurance based on how many kilometers they drive in a year and thus reduce their premium amount.
The Kotak Meter (Switch On/Off) Cover, another plan, is sensitive to a customer’s desire of paying for a service only when using it.
Yet another felicitous offering comes in the form of Go Digit’s Pay As You Drive plan.
It is ideal for customers who tend to drive a fixed number of kilometres every year and would like to ration their premium accordingly.
The Pay As You Drive option was first introduced in 2020 and is typically based on usage or kilometres driven.
Instead of having to pay a flat rate for everything, one pays a premium based on usage.