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Social Scout
See what Social Scout found of By Miles
Provided by TrustFinance AI Analysis
Social Scout
See what Social Scout found of By Miles
Provided by TrustFinance AI Analysis
United Kingdom
01 Sep 2016 (9 Years)
Last online: No recent activity
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This company is currently Unproved.
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A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know By Miles
Get to know By Miles
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Summarization
By Miles is a revolutionary car insurance provider based in Bromley, England, offering a unique pay-per-mile insurance policy specifically tailored for low-mileage drivers. This innovative approach sets it apart from traditional insurers, promising a more accurate and cost-effective insurance solution. This detailed review delves into every aspect of By Miles, helping you decide if it's the right choice for your needs.
By Miles Ltd, incorporated on March 19, 2015, has a fascinating history. Initially registered as MULTAS MENTAS LIMITED, it later became IMSURE GROUP LIMITED before settling on its current name in 2017. This evolution reflects the company's growth and adaptation within the competitive insurance market. The appointment of new directors and secretaries in 2023 signals significant restructuring and expansion, indicating a thriving and forward-thinking organization.
Key Milestones:
By Miles Ltd operates under company number 09498559 and maintains its registered office at Churchill Court, Westmoreland Road, Bromley, England, BR1 1DP. Its presence on the UK Companies House register confirms its legitimacy and adherence to UK regulations. While specific licenses aren't explicitly detailed on their public website, their operation suggests compliance with all necessary regulatory requirements for offering insurance services in the UK. Further investigation into specific regulatory bodies may be necessary for complete verification.
By Miles' core offering centers around its innovative car insurance policy. This pay-per-mile insurance is designed to reward responsible drivers who cover fewer miles annually. Key features include:
Beyond the core insurance, By Miles provides additional value-added services:
The cornerstone of By Miles' appeal lies in its pay-per-mile pricing. This means your premium is directly correlated to your annual mileage. The company employs a sophisticated system using either a compact Miles Tracker device or a direct connection to your car's mileometer to accurately record your mileage.
By Miles often proves far more cost-effective than traditional insurers. Traditional policies frequently estimate higher annual mileage, leading to inflated premiums. By Miles' precise mileage tracking ensures fairer and more accurate pricing, especially beneficial for low-mileage drivers.
While By Miles doesn't advertise specific discounts like multi-policy or safe driver discounts in the traditional sense, its pay-per-mile model itself acts as a significant discount for low-mileage drivers. The absence of traditional promotional deals reflects its commitment to consistent and fair pricing based on actual usage.
By Miles offers multiple channels for customer support:
Currently, By Miles doesn't explicitly offer 24/7 support or multilingual assistance. While the app's live chat offers convenient access during business hours, expanding support hours and language options would enhance their service further.
By Miles provides a refreshing approach to car insurance, prioritizing fairness and accuracy. Its pay-per-mile policy is particularly attractive to low-mileage drivers who want to avoid paying for unused coverage. The No Claims Bonus protection and comprehensive coverage further enhance its value proposition.
Recommendation: By Miles is ideal for drivers who prioritize cost-effectiveness and value a transparent, mileage-based pricing system. If you drive infrequently and seek a fairer insurance solution than traditional policies, By Miles is worth serious consideration. However, you should check vehicle compatibility beforehand.
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