Interesting: Now Insure Your Vehicle Only As Per Your Usage

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.

usage based insurance policy

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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