Pay-as-you-drive insurer By Miles raises £1m Seed

BBC: By Miles, why pay when you are not driving?

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“Look out of your living room window. Is your car parked in the street, or on your drive?

If so, you are probably paying to insure your car, even though you are not driving it.

In fact, many cars spend more than 90% of their time entirely static.

In times gone by that was tough luck for policy holders.

But now there are providers who can save you money if you don’t drive every day.

Indeed new technology – “insuretech” as it is called – is starting to make insurance cheaper on everything from bicycles to golf clubs, jewellery to musical instruments.

 

Pay by the mile with By Miles

One method of saving money is to pay by the mile….”

Read full BBC article here