by Gill Montia
Young Marmalade has reported that it now has the support of 13 car manufacturers plus several finance and insurance companies, for its approach to road safety.
The firm, which offers a combined car purchase and insurance scheme for young drivers, has recently received praise from Tom Gardener, general manager of Honda UK, for its work in reducing accidents and injuries.
Mr Gardener commented: “Whilst manufacturers make every effort to build safe cars, it’s the drivers who use them that have the biggest influence.”
The scheme offered by Young Marmalade not only enables young drivers to purchase newer, safer, cars but also insists on additional driver training.
In November the company received the Prince Michael International Road Safety Award and last month it joined forces with GPS provider, i-Kube, to encourage young people to leave their cars at home between 11pm and 5am by offering cheaper insurance for those who do.
09.09.11
As the OFT announced on Thursday an investigation into soaring car insurance premiums - 30 per cent higher across the board over the last year, according to the AA - evidence suggests motorists are embracing new technology as a way to cut the cost of cover.
Telematics uses an in-car box that records and analyses our driving styles and provides information that can be used to personalise premiums. Several insurers are introducing telematics to encourage younger drivers in particular to drive less aggressively and earn reduced premiums as a result. The logic is simple: careful drivers make better insurance risks. But the technology has come down in price so much that a mass-market rollout is getting closer, with devotees claiming it can reduce insurance premiums, lower driving costs and improve driver safety.
For example, Insurethebox, an online telematics-based insurer which launched last year, says two-thirds of its policyholders who received renewal notices in July and August were offered reductions in their premiums as a result of using the technology. Some of the savings topped £800, it says, with average reductions of 22 per cent (see case study).
Source: The Independent
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