News From Press New motor insurance scheme lets you pay premiums only when you drive. How it works

New motor insurance scheme lets you pay premiums only when you drive. How it works

The insurance is calculated on the age and experience of the driver, the company said in a statement

Mint Jul 1, 2020

Amid coronavirus outbreak, several insurance companies are introducing 'pay as you drive' policies for the customers. This unique motor insurance scheme allows the users to pay the premium only on the days they use the vehicle. Recently, Edelweiss General Insurance announced an app-based auto insurance policy – Edelweiss SWITCH. Launched under IRDA's sandbox initiative, this insurance scheme permits vehicle owners to switch 'on' and 'off' the policy whenever they want.

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