New Delhi, Aug. 29 -- Do you drive your car for less than 10,000 km annually? Then, you can possibly reduce your own damage (OD) premium for your car insurance by up to 30% by choosing the 'Pay As You Drive (PAYD) option.

PAYD is a usage-based 'add-on' that links a portion of your OD premium to the distance you drive. Instead of paying the same rate as someone who spends hours on the road every day, PAYD allows drivers with lower annual mileage to benefit from reduced premiums.

"One of the biggest advantages of PAYD is that it rewards lower vehicle usage without compromising on protection. Drivers continue to enjoy the benefits of their existing motor insurance coverage while potentially paying a lower own-damage premium," said Aditya K...