Unlike other countries, here in India, car insurance is something that is super mandatory. And at times, depending upon the vehicle you own or are buying, the cost of insurance and premium can cost as much as a Hero Splendor. But worry not, one way to bring the cost down is by opting for pay-as-you-drive car insurance. But what exactly is this pay-to-drive car insurance and how is it beneficial? let us explain.
What is Pay As You Drive Insurance?
Well, pay as you drive is a type of comprehensive auto insurance that levies a cost based on various factors that also include, how much the car is used and how it is used. Depending on the overall amount of kilometers traveled and the way the driver drives the car, it employs a telematics device to track how frequently the vehicle is used.
This tracking device uses various sensors and algorithms to calculate the variables. It becomes even easier, as it comes with these features.
Hence, it makes it a lot easier for the car owner to get the pay as you drive car insurance.
Benefits Of Pay As You Drive Insurance
Apart from cost savings, there are other benefits of having pay-as-you-drive car insurance, let’s discuss.
Savings on Insurance Premiums
The majority of the time, as the company charges you on vehicle usage, the pay-as-you-drive insurance costs are relatively low than conventional car insurance. This means, depending upon the way you drive, you can save by up to 15%-20% on your insurance premiums.
3rd party coverage
Many insurance providers having this policy also have a Third-party liability only cover for the vehicle.
Added Telematics
Also, the pay-as-you-drive car insurance also gets additional perks of telematic features. These include features like real-time tracking.
What are telematics devices?
An OBD (On-Board Diagnostics) device that plugs into your car’s OBD port just like a usually telematic device. But in addition, it lets you keep a track of the vital parameters of your vehicle. This is compatible with all the cars manufactured after 2010 as have the OBD gen 2 port.
This smart device with AI-enabled features will help you keep track of a lot of things related to your car.
Additional Telematics Features - Go Connect OBD 2.0
Real-Time Location Tracking: Now, they can track and geo-locate their car on the GoMechanic App. No third-party app, no external GPS module needed.
Trips Summary & Mileage Tracking: The GoConnect 2.0 OBD can also keep track of your trips and your car’s fuel economy.
Smart Driving Alerts: A user can get real-time alerts that include but are not limited to over-speeding, over-revving, hard-braking, long-idling, and fatigue via push notifications on their phone.
Anti-Theft Alert: Set a time frame per the user’s requirement and get alerted if the car is driven off.
Geo-Fencing: Enables users to define a perimeter and track their car leaving that specified zone.
Tow Alerts: Using its in-built gyroscopic sensors, the GoConnect can send alerts when it detects the vehicle being towed.
Driving Behaviour: The GoConnect analyses and profiles the car user using insights like Average Speed, Mileage, and Drive Time and generates a Driver Rating.
Health Report: GoConnect scans all the vitals of a car, like Emissions, Air/Fuel Metering, Ignition, Transmission, etc., and generates a detailed Health Report.
Emergency Calling: The GoConnect can send a WhatsApp or SMS to your chosen emergency contacts in case of an unfortunate accident.
So, that is all about pay-as-you-drive car insurance and its benefits.
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