This UK-based P2P car insurance startup pools together cash from claimants to bring down the cost of premiums. Guevara offers a platform for peer-to-peer group payments with people you find trustworthy.
The P2P car insurance service has two options: you can create your own group along with friends or have the company match you up with other responsible drivers who share a similar claim history. Once you are part of a small group, your premium payments will only be covering the drivers in your group. Any leftover funds at the end of the year when all claims have been made will go directly toward lowering the premium of all members.
Guevara states safe drivers could cut down their premiums by up to 80% after a few years.