Tata AIG launches usage-based insurance cover for private car owners

The usage-based private car cover, launched under the Irdai's regulatory sandbox, is more affordable offering customised solution towards one's driving profile apart

Tata AIG General Insurance has joined the list of a select few insurers to offer usage-based insurance cover to private car owners which reduces the overall premium payout.

The new policy called 'AutoSafe' uses telematics-based next-gen application and device to track the usage of the car and decide on the premium. The app helps policyholders save on premium by selecting the kilometers-driven, promotes safe driving, works as anti-theft device as it comes with a GPS-based tracking facility.

Last month, Edelweiss General Insurance had also launched a similar product offering similar benefits.