Provision of bonus to those who follow the rules while driving the car
New Delhi. General insurer Tata AIG General Insurance has introduced use-based premium paid car insurance for private car owners. This option will reduce the premium amount of the customers. According to the company’s statement, ‘AutoSafe’ is its new policy.
It monitors the movement of the car using GPS and telematics technology. After this, by estimating the distance traveled by the car through an app, it decides the premium of insurance.
This can benefit those customers who drive less despite having a car. The equipment provided by the company acts as an anti-theft device, encourages safe driving and fixes the insurance premium per kilometer.
Last month, Edelweiss General Insurance also offered similar insurance. According to the statement released on Thursday, this facility is available on all types of insurance. It gives an insurance cover of up to Rs 15 lakh for the driver and the owner of the car.
This app measures the distance traveled by the vehicle and also gives bonus per kilometer for driving well according to the rules, as this app does live tracking of car speed.
For this, the customer ranges from 2,500 kms to 20, There are options to choose from up to 000 kms. One can also do a top up of 500 kms to 1500 kms during the term of insurance. The AutoSafe tool also monitors the fuel efficiency of the vehicle.
The company’s executive vice president Parag Veda said the regulator allows telematics to provide technology-based solutions. This makes insurance more attractive to suit the needs of the customers. This is clearly visible in the new policy of the company.
