Pay-as-you-go car insurance – perfect for the low-mileage driver?

Millions of people buy their mobile phone service on a pay-as-you-go contract – and now we are being offered car insurance in the same way, paying just for the miles we drive. In the next few months two start-up insurance firms will begin offering pay-as-you-drive car insurance products that claim to do away with the big up front annual premium. The idea is simple. Users pay a flat monthly fee – about £10 to £30 – to cover the basic fire and theft element of the insurance, and then an…

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