This newly launched short term usage based insurance policy could be extremely helpful for people who do not drive their vehicles a lot…
These are very terrifying times for everyone as the COVID-19 pandemic has caused havoc all around the world. People are locked down inside their homes, businesses are shut and a lot of people have not received their salaries. Amidst a lot of uncertainty, everyone is spending with caution.
Sniffing an opportunity, Bajaj Allianz has launched a new short term auto insurance policy in the market, according to a media report. This policy will allow you to insure your vehicle only as per your usage.
Tapan Singhel, Chief Executive Officer of Bajaj Allianz said,
This is a first of its kind policy that we have launched today. Now customers who won’t be using their car for a long time will be able opt for theft and fire insurance policy and can plan their insurance coverage according to the number of kms they will drive.
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Instead of paying hefty amounts for your vehicle insurance for a complete year, you can insure it for a short term of limited kilometers. And like a mobile top-up, in case you exhaust your quota, you can simply top it up and remain under the insurance umbrella.
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It is not known if this policy is available for two-wheelers or not at this point of time. However, this will be a breakthrough product if it is priced well and can be really helpful for people who do not drive/ride their cars or motorcycles a lot.
Source – Car and Bike
