Pay as You Drive isn't a new concept, but it's one we're looking to pioneer here in Australia because we know that lower kilometre drivers are paying too much for their insurance.
We want to be transparent with our customers about how our insurance costs are broken down so we have very clear pricing that genuinely rewards lower k's.
Every KOBA customer has two calculations:
- A simple fixed cost - this covers your car while it's parked from incidents such as fire, theft, hail or someone else hitting it. You can pay this annually, or monthly. The fixed cost includes the KOBA Admin fee which helps to cover the costs of collecting, transmitting and storing your vehicle data. This fee is always payable upfront.
- A per-km-rate - the cost per kilometre you drive, covering the incidents that can occur while you're driving. This cost is calculated at the end of each month and is your per-km-rate x the number of km you've driven (as measured through your KOBA Rider).
What is a KOBA Rider? KOBA uses a special Onboard Device (OBD-II) that plugs directly into your onboard computer and syncs with our KOBA App. This measures your km driven in real-time and powers our App.