A brand-new motor insurance add-on feature is now available called “Metre”, which allows customers to turn on and off insurance coverage based on how often they use their vehicles.
How Does The Metre Feature Will Function?
The insurance provider enables customers to pay for insurance only when the car is in use with the Metre add-on. Simply expressed, the car owner has the option to turn on their auto insurance when they use their vehicle and off when not.
Use Instructions For The Metre Add-On Feature
Customers must first purchase the add-on together with a private car insurance policy to access this add-on option. Then, for onboarding, they must fill up their data and understand your customer specifics. Once the insurance has begun, the automobile owner can turn it on whenever they use the vehicle.
Bonus Days
The user will receive one day as a reward if the app is dormant or switched off for 24 hours. The owner of the vehicle will thus accrue “reward days” for inactive days. If the customer decides not to renew the policy with the same provider after the policy term, the collected reward days may be redeemed as cashback.
Switch On And Off Policies Are Becoming More Popular
High demand for need-based insurance coverage has been on the rise, notably since Covid-19. Most car owners have changed their driving patterns as a result of hybrid and work-from-home policies, higher fuel prices, and rising inflation. This inspired us to develop a switch on/off function that is user-friendly as an addition to our comprehensive car insurance coverage.
The new technologically advanced insurance policy called “Metre” aims to treat all customers equitably and encourage those who drive less.
Who It Won’t Work For
It should be emphasised, nevertheless, that policyholders can only receive the benefits/concession if their car insurance isn’t used for the full 24 hours. Rewards aren’t granted for a single day or 24-hour period, even if the policy is used briefly, like a 5- to 10-minute journey each day. So, this function suits those who drive very little but use their car and policy daily, not necessarily those who drive less but still use them daily.
Additionally, this function may not be suitable for those who are easily distracted because they may forget to turn the policy on or off. The car would not be covered at all by the motor insurance policy, and no claims would be payable if someone drove without switching the coverage. *
A car insurance premium calculator is a tool you may use online to determine the amount of coverage required based on your needs.
It’s important to note that the new switch-on and off motor insurance add-on is not designed to offer cashback in the event of a claim. This add-on is primarily intended for other purposes, and policyholders should carefully review the terms and conditions of their insurance coverage to understand the specifics of what is and isn’t covered in case of a claim.
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
