The policy will be underwritten by Ageas and allows young drivers to only pay for the miles that they use
Peterborough-based telematics insurer Marmalade has today (24 November 2022) launched a motor insurance solution for newly qualified drivers.
The policy will allow newly qualified drivers under 30 years of age to pay only for the miles they drive and is aimed at customers who clock up fewer than 3,500 miles per year.
Underwritten by Ageas, policyholders can pay for a starter package of 1,000 miles and opt for an automatic top-up of 250 to 1,000 when they have 50 miles left on the policy.
Paul Baxter, managing director at Marmalade, said: “We have built this new offering in response to the demand from newly qualified drivers who want the option of driving, and more importantly paying for the cover, flexibly.
“We know that the majority of our customers want convenience at the forefront of their purchases and the option of pay-as-you-go for new drivers means that they have the flexibility to only pay for what they use.”
The launch extends Marmalade’s previous telematics policy, which was aimed at young drivers who drove a family car.
More eco conscious generation
Miles driven can be tracked using Marmalade’s “App and Tag” system, which utilises specialist smartphone telematics technology to record the miles driven and monitor how users drive.
Baxter said: “Our customers across the board want flexibility and an offering that is dynamic and can fit their needs without costing more than is necessary.
“It’s been well-documented over the years that annual mileage driven is on the decrease and this, paired with a more eco-conscious generation, means we are seeing young people drive only when necessary.”