Comprehensive car insurance for young men had increased to £4,000 per annum on earlier this month
An insurance company, which specialized in policies for younger drivers, had used the latest in-car technology to help it for cutting premiums by 17 per cent. Young Marmalade had used telematics and “black box” satellite technology for monitoring the policyholder’s driving behaviour, for example speed and at what time of day the car is driven, braking and acceleration.
Then, this thing was used for calculating premiums; the car was better driven because it could make the lower the premium and vice-versa. They could improve the premium or cancel it all together if the insurance underwriter was disappointed with the driver’s performance.
Nigel Lacy as co founder of Young Marmalade said that we were happy able to cut our premiums at a time when the rest of the insurance industry were improving. Nigel Lacy added that it was part of our commitment in order to get more young people driving and driving safely. Intelligent Marmalade had a very positive effect on safety because analysis had shown that drivers were far more vigilant and careful.
This offering would be good news for young drivers in light of skyrocketing premiums at other insurance providers. The early of this month, a report showed that comprehensive car insurance for young men had increased to £4,000 per annum. Intelligent Marmalade also said that young men would pay on average £2,601 for its insurance premiums, and young women £1,642.