The Kotak Meter (Switch On/Switch Off) Cover allows the policyholder to switch off the OD cover when not using the car. When the vehicle is under use, the cover can be switched on back again.
For the number of days the switch is off and the car is idle, you will get a discount on own damage premium on the next year's car insurance renewal. This add-on only applies to damage sustained by the car during an accident. The third-party, theft and fire cover will work like a standard comprehensive car plan.
However, if you claim your accident cover (OD) in your policy period, you will not be eligible for next year's discount.
Using this add-on, a policyholder can switch on the car insurance when it's in use and switch it off when it's not. Here is how this add-on works:
For every continuous 24-hour period (OD cover) is off, you will be rewarded with 1 bonus day. The discount offered under this add-on is as follows:
|Discount on accident cover (OD cover)
|20 - 60
|61 - 120
|121 - above
Follow the steps mentioned below to purchase a Kotak pay as you drive additional cover:
After the payment, your Kotak Mahindra car insurance and the Pay as you drive add-on will be issued.
Ans: When the OD cover on the app is switched off, any accidental damages to your car will not be covered. However, theft, fire and third-party damage covers of the comprehensive policy will be active.
Ans: If you are an occasional driver who takes out their car much less, this add-on will suit you as you can switch it off when you aren’t driving. This way, you can save on your next year’s renewal premium.
Ans: The discount percentage depends on the days your OD switch was off. You may receive a 40% discount on your premium based on the reward days. Moreover, for every 24 hours your OD cover was off, you will receive a 1-day bonus.
31 Jan 2024Investing in a full-coverage car insurance policy is essential for
29 Jan 2024No Claim Bonus (NCB) is a reward given by an insurer to a
17 Jan 2024Buying their first car is no less than a milestone unlocked for
12 Dec 2023The type of four-wheeler you purchase also impacts its insurance
11 Dec 2023You must have read or heard about the term “Full Coverage Car