Due to the convenience of finance in India, today everyone has a vehicle. If you have more than one vehicle and you do not use all too often or if you use public transport more and drive your vehicles only occasionally, then you do not need to spend more on insurance premiums. Bharti AXA General Insurance has launched a new policy keeping in mind, such car owners. The company has launched a unique motor insurance policy in association with PolicyBazaar.com. Under this policy, car owners will have to pay the premium of the motor insurance policy according to their use. The use-based motor insurance scheme is known as 'Pay As You Drive'. Under this insurance policy, customers have to pay the insurance premium on the basis of how many kilometres their car runs.
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Under this policy, the customer fills a declaration regarding the possible use of the vehicle in a period of one year. In such a situation, depending on the distance you fill the declaration, the insurance premium is fixed. Customers can choose between 2500 km, 5000 km and 7500 km according to their need.
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You can buy this insurance product in three easy steps from a website called PolicyBazaar
1. Customers have to choose one of the three available slabs according to their use.
2. They have to fill odometer readings, KYC details and customer consent form.
3. According to the pre-declassified slab, on the basis of the premium, the damage premium will be calculated.
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