What is Pay As You Drive Insurance – Key Features
Car insurance plans come in many forms, such as comprehensive, own-damage and third-party car insurance. The premiums for these policies are considered a substantial investment, and if you do not use your car often, insurance coverage might feel unnecessary.
This is when a pay-as-you-drive car insurance add-on cover can help you by allowing you to pay only for the distance you travel. Continue reading to learn more.
What is Pay-as-You-Go Car Insurance?
Pay-as-you-go is a unique car insurance add-on cover that helps you save on insurance premiums by only paying for kilometres you choose to drive.
It is a discount-based insurance add-on cover that adjusts to your driving habits. Therefore, you pay relatively lower car insurance premiums and get coverage only for the kilometres driven.
In cases where you exceed the kilometres you chose, you can consider a top-up to extend your own damage insurance coverage. In contrast, if you drive less than the kilometres you chose, you can easily carry the unused kilometres to the next pay-as-you-drive car insurance policy year.
What Features are Included in the Best Pay-as-You-Go Car Insurance Cover?
Feature | Details |
Coverage | Own damage coverage within the Available Kilometres. |
Kilometres you can opt for | Starts from 2,500 Kilometres and can be increased in the multiples of 1,000 Kilometres |
Grace Kilometres | 125 Kilometres |
Top Up Limit | Additional kilometres can be added if you run out of Available Kilometres. |
Carry Forward Limit | Unused kilometres can be carried forward to the next insurance policy year. |
Benefits of Pay by Mile Car Insurance Lower Car Insurance Premiums
With pay-as-you-go car insurance, you are charged an insurance premium based on the actual use of your four-wheeler. If you use your four-wheeler less, a lower car insurance premium is charged. Therefore, the name pay-as-you-drive insurance.
Flexible Coverage
If you feel you are about to exceed the declared distance travelled by your car, you can easily top it up with the suitable kilometre range and ensure continuous pay as you drive insurance coverage.
Tenure
The pay-as-you-go car insurance add-on offers coverage for a standard 12 months. However, it can be longer, depending on your policy period.
Who Should Buy Pay As U-Drive Car Insurance Add-on Cover? Infrequent Drivers
If you do not drive your four-wheeler around a lot or only take it out for special occasions, this add-on cover will be perfect for you.
Multiple Car Owners
If you own multiple four-wheelers and one is used less than the other, you must consider this add-on. It makes sense to pay only for the distance you travel.
You Utilise Public Transport
If you prefer travelling on public transport, you are likely using your four-wheeler relatively less. Thus, this add-on is perfect for you.
To Wrap It Up
Pay-as-you-go car insurance add-on cover is ideal for individuals who use their four-wheeler occasionally. It offers affordable four-wheeler insurance premiums and allows you to transfer the kilometre balance between the car insurance policy year. Moreover, the process to buy this ad-on is straightforward and similar to purchase of any other add-on.
If you are one of those car owners whose four-wheeler stands in the parking lot more than it hits the road, then pay-as-you-drive car insurance add-cover is ideal for you.
The post What is Pay As You Drive Insurance – Key Features first appeared on Giga Biting – Everything is in one place.
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