Sunday, Dec 10 2023 | Time 03:16 Hrs(IST)
image
Press Releases » prnewswire


A revolutionary Pay As You Drive (PAYD) product for private car from The New India Assurance Co. Ltd



Key features of the product-


  • Discount on basic own damage premium at the time of renewal basis the mileage covered by the vehicle.
  • Continuous coverage even if vehicle crosses the distance threshold limit.
  • If there is a claim, the Pay As You Drive discount still continues.
  • Enhanced coverage with preferential add-ons such as Nil Depreciation, Engine Protection, Return to Invoice, Road Side Assistance, etc., on payment of additional premium.

MUMBAI, India, Jan. 31, 2023 /PRNewswire/ -- The New India Assurance (NIA) launches 'PAY AS YOU DRIVE' (PAYD) policy which is a revolutionary and feature-packed hassle free product:


  • The customer can save money on renewal premium by availing the applicable discount if the vehicle has not run beyond a specified number of kilometres. The discount will be applied on basic own damage premium.
  • If the vehicle has been driven beyond the kilometre threshold limit, the coverage continues for the policy's remaining duration. Customers can still avail a discount on the renewal, albeit at a lower applicable range.
  • The policy can be enhanced by including other add-ons, such as Nil Depreciation, Engine Protection, Return to Invoice, Road Side Assistance, etc. These will be available on payment of additional premium.

Commenting on the product's launch, Mrs. Neerja Kapur, Chairman cum Managing Director, said, "Our PAYD policy fulfils a long-standing demand of customers for simple and flexible products that consider different usage patterns. Our product is one of the few in the market to help the customer manage his outflows towards vehicle maintenance. We are confident that this product will herald a new age in vehicle insurance and promote better compliance thereby reducing the risks associated with uninsured and underinsured vehicles plying on the roads." 


Disclaimer: IRDAI urges prospective customers to study the terms and conditions carefully before applying.


About New India Assurance Company Limited:


The New India Assurance Company Ltd is the largest Non-Life Insurance Company in India headquartered at Mumbai and operates in 26 countries.


Cision View original content:https://www.prnewswire.com/in/news-releases/a-revolutionary-pay-as-you-drive-payd-product-for-private-car-from-the-new-india-assurance-co-ltd-301734247.html



Disclaimer: This is syndicated feed from PR agency and any legal liability for the content is theirs only.

More News
California State University San Marcos partners with Study Group to drive growth of its diverse global student community

California State University San Marcos partners with Study Group to drive growth of its diverse global student community

08 Dec 2023 | 7:13 PM

California State University San Marcos partners with Study Group to drive growth of its diverse global student community

see more..
University of Nebraska at Omaha partners with international education specialists Study Group to increase international student recruitment

University of Nebraska at Omaha partners with international education specialists Study Group to increase international student recruitment

08 Dec 2023 | 6:32 PM

University of Nebraska at Omaha partners with international education specialists Study Group to increase international student recruitment

see more..
BOULT embraced the festive spirit with the Unwrap Campaign, spreading the joy of gifting during the holiday season

BOULT embraced the festive spirit with the Unwrap Campaign, spreading the joy of gifting during the holiday season

08 Dec 2023 | 1:02 PM

BOULT embraced the festive spirit with the Unwrap Campaign, spreading the joy of gifting during the holiday season

see more..

Asianet News Digital launches Marathi platform in Mumbai in the presence of Hon Dy CM Devendra Fadnavis

08 Dec 2023 | 1:45 PM

Asianet News Digital launches Marathi platform in Mumbai in the presence of Hon. Dy. CM Devendra Fadnavis

see more..
Platinum Evara unveils Becoming Me - A Campaign Celebrating Personal Journeys

Platinum Evara unveils Becoming Me - A Campaign Celebrating Personal Journeys

08 Dec 2023 | 12:14 PM

Platinum Evara unveils Becoming Me - A Campaign Celebrating Personal Journeys

see more..
image