Just Miles announces UK launch of pay-per-mile car insurance policy and innovative driving app.
Just Miles is revolutionising car insurance for consumers that drive less than the UK average, launching a new kind of pay-per-mile insurance policy with a simple-to-use driving app that will give individuals more control over their costs.
Traditional insurance models aren’t fair because they don’t properly account for the miles people drive. As a result, car owners driving fewer miles than the national average are effectively subsidising the insurance costs of higher mileage drivers.
The founders of Just Miles
Just Miles knew this needed to change. The insurtech startup has built innovative new technology and a smartphone app that makes car ownership fairer and easier to manage, bringing car insurance into the 21st Century.
James Blackham, co-founder and CEO at Just Miles, said:
“We founded Just Miles because we believe that insurance hasn’t evolved to meet customer needs. Consumers shouldn’t have to pay full price for insurance when they aren’t using their car – if they’re on holiday or taking public transport to work, for example. We’re doing it differently by treating our customers as individuals, building real-time policies that fit around them.”
Apart from a subscription fee that starts from just £12 a month, Just Miles will only charge customers for the miles they drive, as they drive them. Drivers can use the miles calculator on the company’s website to check exactly how many miles they drive according to DVLA records, and get an estimate of how much a Just Miles policy could save them.
The Just Miles monthly subscription model brings an end to the hassle of annual renewals and negotiations, and car owners will be able to earn exclusive rewards and automatic premium discounts for good driving. The company will offer fully comprehensive insurance policies as standard, while customers will continue to accrue no claims bonuses for incident-free driving.
With car insurance rates rising by 14% year-on-year, and insurance premium tax (IPT) increasing to 12% from June 2017, premiums are set to climb even higher. Data from the Department for Transport shows that 50% of the UK’s cars travel under 7,000 miles each year. It’s clear that many consumers could benefit from an insurance policy that saves them money by aligning better with their personal driving habits.
Those likely to benefit most from a Just Miles policy may already be lumbered with high monthly expenses from property rentals or mortgages and commuting costs, living in cities, driving mostly at the weekend or only driving short distances each day. They may also be looking for a more flexible, transparent way of managing their car insurance.
Callum Rimmer, co-founder and CTO at Just Miles, explained:
“Insurance can be complicated. Our insurance is clearly priced, showing drivers exactly what their insurance is costing in real time. We want our driving app to work with our customers to make their lives easier.”
Consumers today expect seamless experiences that are tailored to their needs, as shown by the popularity of the mobile-first services that have already transformed the way we order taxis and take-away deliveries, and are beginning to reshape personal finance. Just Miles will bring this level of convenience to driving and insurance.
On top of its revolutionary pay-per-mile insurance model, the easy-to-use Just Miles smartphone app aims to make car ownership more straightforward to manage than ever. The app provides itemised bills that update in real-time, and access to support for everything from mechanical advice to aid in case of a theft or an accident. As well as offering customers useful reminders for MOT or road tax anniversaries, the app can also help detect faults in the car and proactively suggest solutions.
The company is in the process of applying for regulation by the Financial Conduct Authority.