Bajaj Allianz launches add-on motor insurance cover

The company was the first to launch ‘Pay As You Consume’ under Irdai’s sandbox rules and due to the overwhelming response from the customers, Bajaj Allianz General Insurance launched it as a full cover under motor insurance products.

Pay-as-you-consume add-on cover can be opted by the customer under package product, bundle and standalone OD cover along with the basic plan. Customers can choose the coverage based on the usage of their vehicle, beyond which premium will be calculated, i.e. kilometers driven annually. Customers can also avail additional premium benefits for their safe driving.

“As You Consume lets customers choose their insurance premium based on the way they use their vehicle and intends to benefit them based on their driving behavior using telematics. This will encourage customers to drive safely, thus making our roads safer in the long run, said Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance.

This product not only lets the consumers decide the premium, but also lets them decide the coverage and provides benefits for safe driving behavior. The company will introduce this modular product through an all-encompassing approach across the country.

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