New pay-per-km car insurance ‘Koba’ to launch soon

Woman with beanie on, sits in car driver's seat.

Drivers searching for a usage based car insurance policy will soon have another option to add to their list. Set to launch this month, Koba Insurance is designed to offer reduced premium costs to people who clock up less than 7,000km per year on the road.

The minds behind Koba were inspired by the events of 2020 and the fact that people were still paying for insurance on cars they weren’t using. After coming to this realisation, founder Andrew Wong and his team set about creating an insurance plan that would be based on how much the customer actually drives each month.

How does Koba Insurance work?

While Koba hasn’t released the details of its insurance plan yet, it has given a sneak peek as to how its offering will work. 

The first thing you should know is that to sign up with Koba you will have to have a ‘connected car’. In short, a connected car is a car that can access the internet by way of its onboard computer. Koba will use this connection to calculate the number of kilometres you drive each month.

Through Koba’s app, you will also be able to view real-time trips, claims and car care tips. It even has a nifty ‘find my car’ feature. Handy for those times when you can’t locate your wheels in a multi-story car park!

How much does Koba Insurance cost?

Exactly how much Koba Insurance costs will depend on how often you use your car. As mentioned, the policy is designed for people who drive less than 7,000km each year.

Besides how much you pay for your actual usage, Koba will also charge a ‘small monthly fee’ to cover your wheels while parked. Koba says the savings for eligible customers could be as much as 25% per year.

What next?

Koba Insurance hasn’t launched just yet, but you can pre-register your interest via the website. That way you’ll be kept up to date with all the latest news and can be one of the first to join.

In the meantime, feel free to check out our guide to pay-as-you-drive car insurance, to see what other providers currently offer usage based policies. Or, take a look at the comprehensive car insurance deals on offer below.

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