PAYD car insurance- Pay by KM
Premium Pricing
Do you want comprehensive car insurance but don’t want to pay expensive premiums because you don’t actually drive your car very far? Maybe you only use your car to commute to the local train station or you are away on business for weeks at a time. If you drive less than the average person in your neighbourhood, then we should be able to save you money.
Most of the bad things you are insured for can only happen when you are driving your car, like crashing into another car for example. If you don't drive, those things cannot happen. So the more a person drives, the more an insurance company must charge for that policy in order to pay claims. When you buy a "Traditional" car insurance product, people who don't drive a lot subsidise the people who do drive a lot. At Pay As You Drive, we don’t think that is very fair, and we are doing something about it!
With PAYD you pay for the kilometres you plan to drive. That means good drivers who drive less than others in their neighbourhood no longer have to subsidise the people who drive a lot. So if you don't drive as much as the average person in your neighbourhood, you could save with Pay As You Drive.
For example, if we quote you $300 for minimum premium and $0.10 per kilometre:
- If you buy 5000km, you’ll pay $300 + (5000km x $0.10 per km) = $800.
- If you buy 9000km, the price would be $300 + (9000km x $0.10 per km) = $1200
Get an online car insurance quote or call us on 13PAYD to find out how much you could save.
Have a look at the example below
Dave is a 27 year old male from Geelong (3220). He has a 2004 Mazda 3 Maxx Sports Sedan Auto which he only drives about 5000km a year.*
An average premium for Dave from three major Australian insurers was $717.63.
But if Dave bought 5000km with Pay As You Drive, he would only pay $377.45.
That’s a massive saving of $340.18!
Top-ups
If you use all the kilometres you buy, then you will need to ring us on 13PAYD to top-up. If you use all of your kilometres, and don't call us to top-up, then your comprehensive insurance will revert to Third Party, Fire and Theft cover. If you don't use all km's, we'll roll them over to next year. If you cancel your insurance with us, we’ll refund the km’s you didn’t use once you have had your odometer verified at one of our many odometer verification centres.
Just call 13PAYD to top-up your account.
To find out if you can save with Pay As You Drive
Get a quick online car insurance quote and see how much you can save.
Not sure how far you drive in a year? Use our easy Km's calculator.
Quote Details
Traditional Premium= Average premium based on quotes from 3 major Australian Insurers. Prices as at 5 February 2009. Savings will differ based on your circumstances.
Quote details: Age and address as shown. Paid yearly, maxi. NCD. No motor claims, accidents or losses in last five yrs. No serious offences, suspensions or maxi. demerit points in last 3 years. Drivers under 25 excluded. No modifications or non standard accessories, garaged at night,immobiliser and alarm fitted. No finance.