The Kotak Pay as You Drive is an additional cover offered under Kotak comprehensive car insurance that allows you to get a discount on own damage renewal premium. Also known as Kotak Meter (Switch On/ Switch Off) car insurance, this add-on is ideal for car owners who drive their cars less frequently.
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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:
Reward Days (Switch off) |
Discount on accident cover (OD cover) |
20 - 60 | 15% |
61 - 120 | 25% |
121 - above | 40% |
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.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
+Savings are based on the maximum discount on own damage premium as offered by our insurer partners.
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
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