Pay As You Drive Insurance

Pay As You Drive Insurance
Innovation

UK insurance company Norwich Union have launched a Pay As You Drive insurance- a flexible option that uses in-car GPS devices to build an insurance policy created around the individual...

Amanda Gore (PSFK London)
  • 7 november 2006

UK insurance company Norwich Union have launched a "Pay As You Drive" insurance- a flexible option that uses in-car GPS devices to build an insurance policy created around the individual motorist. Based on personal driving habits such as usage, type of road, and mileage, a cost per mile is added onto a monthly fee, with prices starting from as little as 1p per mile. Customers then have the option of receiving an itemised monthly bill. As the company’s blurb states- "It
couldn’t be easer. With "Pay As You Drive"â„¢ insurance you will be fully
insured at all time, but you only pay for the journeys you actually
make."

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