Understanding the 'Pay As You Drive' car insurance model
The 'Pay As You Drive' (PAYD) plan is an adaptable car insurance scheme that ties a portion of the premium for own-damage coverage to how far you drive and your habits behind the wheel. This option helps those who drive less save on premiums without sacrificing their insurance protection. By rewarding infrequent use of a vehicle, the policy requires owners to provide their current odometer reading at the time of sign-up.
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