Mylescars waives off security deposits on self-drive bookings

Mylescars - a self-drive car rental platform, has waived off the need for depositing security amounts prior to booking a self-drive vehicle. This step has been taken in an attempt to make renting a self-drive car more affordable as well as accessible.

Instead, the company has introduced loss damage waiver insurance packages, starting at Rs. 100 per day depending on the choice of vehicle. These loss damage waiver packages will cover accidental damage insurance, roadside assistance, accidental vehicle document loss and third party damage implications. The customer has been given the option to either choose to deposit a security amount while booking the car, or opt for the applicable damage waiver package.

The company has also reduced the lower age limit for customers from 23 years to 21 years to widen its customer base. Additionally, Myles has relaxed the permissible maximum speed limit of 100 km/h to 120 km/h on highways and expressways.

Mylescars claims that the aforementioned changes will make it easier for customers to rent a self-driving vehicle on their platform. The company is targeting a 25%-35% increase in the number of bookings by bringing the said initiatives.