Is 'Pay As You Drive' Car Insurance Right for You? Find Out Here
4 months, 2 weeks ago

Is 'Pay As You Drive' Car Insurance Right for You? Find Out Here

News 18  

Pay as You Drive is a type of car insurance where the premium is calculated based on the actual distance you drive, rather than a fixed annual fee. If you’ve driven more, you might need to pay an additional premium Benefits of PAYD Insurance Cost Savings: If you’re a low-mileage driver, you can significantly reduce your insurance premium. Customisable Coverage: Some PAYD policies offer flexible coverage options, allowing policyholders to choose different levels of coverage based on their driving habits and needs. Potential Higher Costs for Frequent Drivers: Those who drive frequently may end up paying more compared to a traditional insurance policy.

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Car insurance: Why should you opt for ‘Pay as You Drive’ cover?
10 months ago

Car insurance: Why should you opt for ‘Pay as You Drive’ cover?

Live Mint  

Have you ever thought of the financial burden your vehicle insurance incurs regardless of the vehicle’s usage? This should, ideally, incentivise the policyholder to pay a lower premium but it doesn’t happen in a standard comprehensive car insurance plan. Pay as you drive is an insurance plan that enables policyholders to save money on their ‘own damage’ component depending on …

Auto Insurance Rules to Change: Pay Premiums as 'You Drive, How you Drive'
2 years, 5 months ago

Auto Insurance Rules to Change: Pay Premiums as 'You Drive, How you Drive'

News 18  

Gone are those days when you have to pay a fixed premium every year for your own damage motor insurance policy. “… as a step towards facilitating technology enabled covers, IRDAI has permitted general insurance companies to introduce the following tech-enabled concepts for the motor own damage cover: a) ‘Pay as you drive’, b) ‘Pay how you drive’, c) ‘Floater …

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