Go Digit General Insurance is the first insurer to offer a ‘pay as you drive’ (PAYD) add-on feature for motor insurance own damage (OD) policies. The Insurance has launched an add-on feature for motor insurance Own Damage policies, named ‘Pay as you Drive’. Vehicle-owners can purchase this benefit as part of comprehensive coverage, along with motor own damage (OD) policies.
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Key points of the policy:
- Customers who drive less than 10,000 Km per year on average, will now pay less with this add-on.
- Digit will use odometer reading, telematics data and annual kilometre opted to give this discount (up to 25%).
- IRDAI has also permitted to the general insurance companies to introduce such tech-enabled concepts in motor OD policies.
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