- About Coverfox
Pay as You Drive policy is a form of car insurance that offers complete protection and at the same time is lighter on the pocket due to a lower premium. The premium under this plan is charged based on the kilometres driven by you. This policy will offer you the benefits like own damage cover, and third party liability cover coupled with a discount on your own-damage premium depending on the slabs of the kilometres travelled.
Insurance Regulatory and Development Authority of India (IRDAI) in collaboration with various insurance companies have come up with a pilot project known as Pay as You Drive policy. Under this policy, private car owners will be offered a usage-based motor insurance policy.
Here are some most attractive features of Pay as You Drive car insurance:
Pay as You Drive car insurance provides several advantages that cannot be ignored. Listed below are the benefits of Pay as You Drive car insurance:
Note: The percentage of the discount on premiums may vary from insurance company to insurance company.
Edelweiss General Insurance SWITCH
Edelweiss General Insurance SWITCH is a driver based pay-as-you-drive car insurance plan. The plan gives you the option to switch your car insurance cover ON and OFF depending on the usage.
|Road accidents in the vehicle||Any kind of damage or loss that has not been updated in the policy app|
|Any loss or theft||Driving your vehicle without a valid driving license|
|Damage incurred due to fire and explosion||Driving your vehicle under the influence of alcohol, drugs, or narcotics|
|Damage due to natural disasters and terrorism||Depreciation due to the normal wear and tear or mechanical breakdown|