Tuesday, March 28, 2023
A revolutionary Pay As You Drive (PAYD) product for private car from The New India Assurance Co. Ltd
  SocialTwist Tell-a-Friend  

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

More News by PR Newswire India

Otr Elkalam: In the world's largest religious competition - A Saudi Opera Singer Eliminates a Voice Coach

The Organizing Committee of Memorial Ceremony to Ancestor Huang Di in his Native Place Held its Press Conference in Beijing

Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical


Syndigo Announces Additional Generative AI Capabilities to its Client Platform

2026 All-Time High in Store for Global 300mm Semiconductor Fab Capacity After 2023 Slowdown, SEMI Reports

Tata Communications brings JAMVEEâ„¢ - an integrated, simplified cloud-based calling solution for global enterprises

38th Annual World Petrochemical Conference: Wanhua Chemical Shares Inspiring and Insightful Practice on Sustainability in Petrochemical Industry


Shipping industry can save $50 bn through four enablers of operational efficiency

LyondellBasell and EEW sign LOI for potential advanced waste sorting

Armis Achieves U.S. Department of Defense Impact Level 4 Authorization

The Second International Forum on "Democracy: The Shared Human Values" kicked off in Beijing

Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time

Forever New Launches Exquisite SS23 Collection Featuring Pooja Hegde

Transparent & good governance, inclusive Growth and opportunities for all mark the emergence of New India under the leadership of PM Narendra Modi says Union MoS Rajeev Chandrasekhar

Inkspell set to organize the Video Media (vIdea) Awards & Summit 2023 on 27th April

Indian Low-voltage Switchgear Market Witnesses Surge Due to Pent-up Demand and an Increase in the Average Price

Aramco JV HAPCO to commence construction of major refinery and petrochemical complex in China

GCL System Integration Brings N-Type Innovation TOPCon and Latest BIPV Products to PV EXPO 2023

Aditi Mittal, Director at IndiaBonds and A. K. Group wins Times 40 Under 40 Award

Beamery Announces TalentGPT, the World's First Generative AI for HR

Appian appoints Douglas Coleman as Head of Mexico

Measure the Impact of Mantras on the Brain with the Sadhana app

International Aluminium Institute launches Aluminium Forward 2030 Coalition

Bharat KYC secures 'Fastest eKYC' and QuantPower bags 'Best Algo Trading Platform' Award from NITI Ayog Advisor & Bollywood Diva Bhagyashree

Transcoding and Content Security Workflow Simplified: INKA Entworks's PallyCon and Dolby Hybrik Join Hands for an Integrated Solution

ESG practices towards transformative change for a more sustainable world

Making Open Source Truly Open

The 3rd Conference of Great Business Partners to be held in Shandong

New Cryptocurrency BASALTCOIN set to Launch with a Mission to Revolutionize the Greentech Industry

CGTN: How China keeps its promise to build a community of common health for mankind

CGTN: Analysis: China's economic resilience boosts global recovery prospects

YourStory's TechSparks makes thundering debut in Mumbai: A two-day gala featuring India's top entrepreneurs, investors, innovators, and more

Holding your grandchild for the first ti...
Opposition parties to continue 'black' p...
Why 10-year-old Avika Rao thought 'Ajoba...
Neither Sikhs in India nor Indian diaspo...
Centre reviews public health preparednes...
BSF finds 6 kg of drugs dropped by drone...
 Top Stories
Odisha CM Naveen Patnaik asks Centr... 
US: Biden calls Nashville shooting ... 
Israel PM Netanyahu delays judicial... 
Indore: Police register complaint a... 
Israeli missions on worldwide strik... 
Delhi: Building collapses in Badarp... 
Earthquake of magnitude 6.0 hits So... 
Controversial Israeli judicial refo...