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.
KOBA uses real-time driving data, connecting the vehicle’s on-board computer to a smartphone app which records when and how far you drive and then charges a consistent per-kilometre rate for comprehensive insurance coverage.
This is entirely different from existing so-called ‘pay-as-you-drive’ policies which offer reduced annual fees if you nominate to drive less than a predetermined distance each year.
While those companies will charge more if you happen to exceed that figure, they typically won’t provide a refund if you drive less.
KOBA, on the other hand, charges for the actual distance you drive.
At KOBA, 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 upfront fixed cost - this covers your car while it's parked from incidents such as fire, theft, hail or 3rd party damage. 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.