Pay As You Drive Car Insurance

Pay as you go is certainly a new idea in car insurance, hopefully not the last innovation in a pretty staid business. In fact your readers may be able to help all of us drivers.
I am working with a small team inside one of Australia’s largest insurers called eVentures. Owned by IAG (NRMA is one of their insurance brands).

eVentures are asking insurance buyers to help design the best online insurance experience possible – according to them.

Not selling anything, just genuinely listening and responding.

Is it OK to invite your readers to visit this site and have their say, or would you like to review the site & initiative? First of a kind we believe.

The site is at http://www.myinsuranceideas.com.au .

Pay As You Drive is comprehensive car insurance for good drivers over 25 years of age, who drive less than the average person in their neighbourhood.

Payasyoudrive.com.au by Real Insurance are offering this to those interested in Australia.

Dear Administrator, I am 48 years of age,and have a 3 year vehicle. Hyundai getz, 4 cylinders.

I usually catch public transport to Melbourne and park my car at the station.

I have fully comprehensive insurance and third party insurance.

How much should I be paying with you?

Warm regards, Julie anne

Hi Julie,

Sorry for any confusion, but I don’t actually offer pay as you go insurance as such. If you are after PAYD insurance, why not do a Google search for Pay as you go insurance as I believe the company ‘Real Insurance’ is now offering that.

Shortly we will see more car insurers moving to a model similar to this but until then there are not to many more options im affraid.

Hope that helps,

Alex

I’ve just switched from what I previously thought was the best deal in town for car insurance. We are very low kilometers users in our senior years, and our price went down from $830 to $350. We’re delighted.

Online reviews arent many but one writer tells how fast their smash claim was settled – that’s good. Nobody wrote scathingly which makes me happy with our choice.

The fact that unused kilometers can be rolled over into next year is a financial benefit too as we will only have to buy coverage for “top up” kilometers next year (to bring it up to 5000kms at the start of the insurance period).

You can find Pay As You Drive car insurance online at http://www.payasyoudrive.com.au

Gary, great to hear you saved so much!

I have my car insurance with PAYD and was wondering if you also sell green slips.

Thank you so much,

Rose

Hi Rose,
It’s great to hear that you have your car insurance with Pay As You Drive, we hope we were able to save you some money!

Unfortunately PAYD does not cover greenslips, but Real Insurance (who PAYD is provided through) offer home insurance, contents insurance, bicycle, life, funeral and landlords insurance.

Having done a google search for reviews on Real Insurance, I’ve come across over 5 pages on the site below with scathing reviews of Real Insurance.
http://www.productreview.com.au/showitem.php?item_id=54826&section=REVIEWS&order_by=item_review_insert_timestamp&is_asc=1&next=1

As usual, time tells the story. I’m glad I waited and didn’t sign up! Our current insurers (NRMA and CGU) may be more expensive, but from what I can gather, far more reliable and honourable when it comes to making a claim – the most important part of any insurance!

pay as you drive is great.
If you do low KM they are normally cheaper.
So best to compare them against a regular insurance company first.

Hi Lisa, sorry to hear that the reviews on that site impacted on your decision not to insure with us. I will say that we have no control over the content on that site- even though many of the reviews are factually incorrect.

I can direct you to our 5 star cannex ratings as well as to our compliment driven twitter account at http://www.twitter.com/realcalls where you can see many positive comments from our customers.

Okay, a year since your last post but I got some quotes yesterday and thought people might be interested.
Full comprehensive with my normal insurer was about $30 more expensive than 10 000km of coverage with a pay as you drive insurer. With all the limitations of the pay as you drive (no one under 25 can drive, add-ons for every little ‘extra’), plus the risk of maybe doing more than the 10 000km and getting another bill, that level of saving just wasn’t worth it.

Interesting article Alex! The pay as you drive car insurance is one of the best policies in car insurance schemes. This insurance is beneficial for those who drive less frequently. It depends on how much km’s is covered when you drive and for this we need to plug in an in-car tracker which shows the exact distance traveled. The other option is GPS (global positioning system) which not only monitor the time and distance traveled but also allows retrieving a stolen car and they even offer discount for such schemes/policies. This insurance can be compared with the other insurance companies and can be easily applied online.