Young Marmalade promotes “safer car and insurance” package for young drivers

by Gill Montia

Story link: Young Marmalade promotes “safer car and insurance” package for young drivers

Young Marmalade has received the endorsement of Business and Economics Minister, Ian Pearson MP, for a new initiative that could stimulate car sales and protect young drivers.

The firm operates a “safer car and insurance” scheme which it claims can reduce the likelihood of new drivers being injured in a serious accident.

The scheme works by combining the sale of a modern car with a low cost insurance policy.

The combined finance package can mean that the monthly cost of insurance and a newer, safer car is less than the cost of traditional insurance for the car typically purchased by young drivers.

However, Young Marmalade determines the age of the car, the safety rating and the size of the engine because by containing the risks faced by young drivers, the firm says it can slash premiums.

With insurance premiums for young drivers rising steeply, the offering is expected to be appealing for both safety and economic reasons.

Commenting on the scheme, Minister, Ian Pearson MP says: “I certainly endorse the principle of looking at innovative ways to stimulate the automotive industry and I wish Young Marmalade every success in developing its product and in pursuing its stated objectives for both stimulating new cars sales and facilitating safer driving.”

Young Marmalade is a member of the Parliamentary Advisory Council for Transport Safety.