Car insurance, an industry often seen as stable and predictable, is experiencing a quiet revolution with the emergence of ‘pay as you drive’ (PAYD) policies. A form of usage-Based Insurance (UBI), PAYD suggests a straightforward concept: your insurance costs align directly with your actual driving distance.
But is your PAYD policy truly charging you ‘as you drive’? As you’ll see, this term has evolved in its application by insurers
PAYD: a term hijacked?
A true PAYD policy,…
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