KUALA LUMPUR: Etiqa launched its usage-based “Drive Less Save More” motor insurance and takaful add-on that offers drivers rebates of up to 30% of their premiums or contribution based on vehicle mileage clocked.
In a statement today, it said this optional add-on is free, with rebates paid whenever a claim is made at a customer’s convenience, subject to a minimum of 10 days between each upload.
The add-on is available to all private car comprehensive drivers.
With people working from home (WFH) and having restricted mobility due to Covid-19, people are driving less while still having full motor insurance or takaful.
Despite the pandemic, the risk of cars getting stolen remains the same.
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Cash rebates is calculated on a daily basis, as a percentage of a customer’s basic premium or contribution (minus no claim discount)
It added the “Drive Less Save More” add-on is available when buying new or renewing motor insurance or takaful.
To qualify for the rebates, customers need to submit a photo of their vehicle number plate as well as car odometer via the Etiqa Smile mobile app.
Subsequently, during the policy or certificate period, customers will need to upload an image of their odometer reading as often as they like, with a minimum gap of 10 days between uploads in order to obtain their rebates.
The images will be used to determine the mileage driven and to calculate the corresponding rebate amount.