Young Marmalade

Young Marmalade is a combined car purchase and low cost insurance scheme, specifically designed for young drivers. 

The scheme provides benefits for young drivers and their parents: 

Young drivers: independence, good looking cars that are cheap to run and helps them build a no claims bonus

Parents: safety, reliability, value for money and simplicity

HOW DOES IT WORK?

Simple, you find the car you'd like from a list of makes and new or nearly new models to suit whatever budget you have. You buy the car through the scheme and Young Marmalade will link that car to a low-cost insurance policy that has been specifically developed to cater for new drivers.  

SAFETY

Young Marmalade controls the age of the car, the safety rating, the size of the engine and insists upon additional driver tuition. By containing the risks, Young Marmalade has secured a unique low cost insurance policy, which is at the heart of the scheme. It is possible to buy a safer car and insurance from Young Marmalade and the monthly combined cost is lower than the monthly cost of traditional insurance alone for the typical car most youngsters are destined to drive.  This adds a very powerful economic case for the scheme to support the safety issue.

WHAT'S THE DAMAGE?

You can pay for your car in a way that most suits your budget and financial situation, through Personal Contract Purchase, Hire Purchase or cash if you've got it. An application or a guarantee from a parent with an established credit history stands a greater chance of acceptance; however, there is nothing to stop the agreement being in the name of a parent with the payments being made by the young driver.

PROVISIONAL MARMALADE

The company recently launched Provisional Marmalade, stand-alone car insurance written in the name of the learner driver insuring him or her to practise in a family or friend's car, whilst under supervision. Under this arrangement, claims do not affect the insurance or no-claims status of the car owner.

Spokesman, Nigel Lacy said of Provisional Marmalade, "Insurance premiums for young drivers are increasing, depriving many of the opportunity to gain that vital practice to supplement tuition from their driving instructors. Provisional Marmalade is an on-line facility providing instant cover to run alongside the car owner's existing insurance for a relatively small cost."

WHAT OTHERS SAY

Young Marmalade received the congratulation of the House of Commons in an Early Day Motion, for its work with young driver safety - an exceptionally rare public accolade for a private company. It has also won the title Most Original Business Concept 2008 in BT Business Essence of the Entrepreneur, chosen by a panel of judges chaired by Peter Jones of Dragon's Den.