Pay As You Drive 

What is Pay As You Drive Insurance?

Benefits Available As Per You Drive

➔Customised Premiums
PAYD insurance guarantees that you only pay for the actual distance you drive, with prices that are customized to fit your needs.

➔Cost-Effective for Low Mileage Users
This coverage can lower your insurance premiums considerably if you drive seldom or mostly take public transportation.

➔Supports Eco-Friendly Practices
Reduces your carbon impact and helps you save money by encouraging less driving.

➔Transparency with Mileage Tracking
The insurance, which has sophisticated telematics, provides you with detailed information about your driving habits and policy usage.

➔Flexible and Adaptable
Because it makes altering coverage levels or mileage restrictions simple, it's perfect for those whose driving habits change over time.

Key Features of Pay As You Go/Drive Insurance Policy

How Does Pay as You Drive Insurance Work?

• Mileage Tracking: The amount of kilometres your vehicle is travelled throughout the policy period is tracked using an odometer reading or telematics device. Your premium will go up the more you drive and vice versa.
• Premium Calculation: Based on your actual consumption, your premium is modified. Since they only pay for the coverage they require, low-mileage drivers benefit from lower rates, which lowers insurance expenses.
• Flexible and Tailored Coverage: PAYD guarantees a customised insurance plan by letting you select coverage according to your driving patterns, whether you're a regular user or a low-mileage driver.
• Claims Process: In the event of a claim, the procedure is still the same as for regular insurance, but your driving information (gathered through telematics) could be taken into account while evaluating the claim and figuring out your eligibility for coverage.

Why Should You Buy SBI General’s Car Insurance Policy?

➔Comprehensive Coverage
Defend your car from a variety of threats, such as theft, natural catastrophes, accidents, and third-party liability.

➔Cost-Effective Add-Ons
Adjust coverage to meet your needs by adding reasonably priced extras like engine protection and zero depreciation to your insurance.

➔Easy Claims
Take advantage of SBI's high claim settlement ratio and streamlined claims procedure, which guarantee prompt settlements in an emergency.

➔A Cashless Network of Garages
Through SBI General's wide network of partner garages around India, you may get repairs without having to pay upfront.

➔Brand Reliability
This coverage is a safe option for your car insurance needs since you can rely on SBI's stellar reputation for dependability and customer care.

Benefits of SBI General’s PAYD Insurance Policy

• Usage-Based Savings: PAYD lets you pay premiums directly corresponding with your mileage, therefore saving money for occasional drivers.
• Modern Telematics: The insurance tracks your mileage using state-of-the-art technologies to provide analysis of your driving patterns.
• Best for City Drivers: Choosing this policy will help urbanites with low driving requirements and maximum savings.
• Encourages Responsible Driving: Promotes road safety by encouraging responsible driving and modest and safe driving practices, therefore lowering accident risk.
• Easily Adjustable Coverage: Enables policyholders to change mileage restrictions as their driving demands change.
• Convenient Policy Renewal: Provides flexibility to change coverage depending on evolving driving demands, therefore guaranteeing ongoing protection.

Who Should Buy ‘Pay As You Go/Drive’ Plan?

• Low-Mileage Drivers: People who drive a car for short distances or don't drive it very often can save a lot on insurance with PAYD because they only charge you for the distance you actually drive.
• Occasional Drivers: PAYD lets you pay less for your insurance when your car is parked for long periods of time, like on the weekends or during holidays. This way, you don't have to give up coverage when you do drive.
• City Commuters: PAYD is good for people who take public transportation to get to work every day and only use their car for chores or weekend trips because it gives lower rates for low usage.
• Eco-Conscious Drivers: For drivers who care about the environment, PAYD offers savings for low-mileage driving to encourage people to drive less and leave less of a carbon footprint.
• Safe Drivers: If you have a good driving record and always drive safely, you may get extra perks like lower premiums or rewards, which will lower the total cost of your insurance even more.

How To Buy Pay As You Drive Policy?

What Happens If the Declared Car Usage Limit is Exhausted?

• Premium Increase: In order to account for the extra miles you've travelled, your premium may increase.
• Additional Fees: If you go above the limit, certain insurance may charge you more.
• Sustained Coverage: The terms may alter, but the coverage is still in place.
• Impact on Claims: Going above the cap may have an impact on how claims are evaluated.
• Renewal Adjustments: When your policy is renewed, your mileage cap and premium might change.

What Is Covered in Pay As You Drive Insurance?

• Third-Party Liability: This covers any harm you cause to another person, including damage to their belongings and injuries to human bodies.
• Accident and Damage: Comprehensive security for your car in case of an accident, fire, theft, or natural disaster.
• Theft and Vandalism: This feature protects your car from being stolen or damaged.
• Personal Injury: Some plans cover injuries you get in an accident as a personal injury.
• Accident Coverage: This covers accidents or other unexpected events.

What Is Not Covered in Pay As You Drive Insurance?

• Mileage Overruns: Exceeding a pre-agreed distance may result in extra costs or cancel coverage.
• Routine Wear and Tear: Normal wear and tear damages, such as mechanical problems or part ageing, are not covered.
• Geographic Limits: Driving outside established zones may invalidate claims.
• Negligent Driving: Accidents brought on by careless actions, such as drunk driving, are not included.
• Non-Inclusive Add-Ons: Engine protection and roadside assistance require additional purchases.

Difference Between Pay As You Drive (PAYD) and Comprehensive Car Insurance

Things to Keep in Mind Before Purchasing Pay as You Go/Drive Insurance Cover

• Multi-Car Ownership: Consider how each car's usage affects your PAYD premium. Any car's mileage might raise costs.
• Car Usage: Evaluate your automobile usage. PAYD insurance is appropriate for infrequent drivers or those with low mileage routines.
• Seasonal Variations: Holiday road excursions may increase your automobile usage, which may affect your policy and premium.
• Limits on Insurer Mileage: View the insurer's mileage restrictions and how exceeding them may affect your rates and coverage.