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Pay-As-You-Drive Insurance Can Cut Car Premiums by Up to 40%

Pay-As-You-Drive Insurance Can Cut Car Premiums by Up to 40%

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Car owners who drive only occasionally can significantly reduce their insurance costs through IRDAI’s Pay-As-You-Drive (PAYD) insurance model, where premiums are linked to annual vehicle usage instead of a fixed rate. Highlights Car owners who use their vehicles only occasionally may no longer have to pay the same insurance premium...

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