(January 17, 2015) LONDON — For almost three quarters of young drivers, the costs associated with car insurance means that the selection of cars they can actually afford to run is usually extremely limited and not very appealing. Indeed for 35 percent of 17-25 year olds the costs are so prohibitive they choose not to own a car at all, while the vast majority that do take the plunge end up spending up to 30 percent of their income just keeping their car on the road.

However, thanks to the new Fiat 500 i-Deal powered by Carrot, drivers as young as 18 years of age can now get behind the wheel of a brand new Fiat 500 1.2 in the United Kingdom for a fixed monthly payment of just £239 ($363) per month over a three-year period, complete with Easy Care Servicing Maintenance and fully-comprehensive insurance cover from Carrot, underwritten by Zurich Insurance.

Each vehicle supplied under the Fiat 500 i-Deal is equipped with an i-box, designed and built in the UK by Crewe-based telematics service provider Trak Global. The device allows young drivers to gain valuable experience behind the wheel with Carrot’s cash rewards program as they are incentivized and encouraged to form safer driving habits from the first turn of the wheel.

The program also offers the reliability, efficiency and safety of a brand new car — every Fiat 500 is now equipped with ESC (Electronic Stability Control) and seven airbags as standard, with fuel-saving Start & Stop and low-tax emissions to reduce running costs even further.

Fiat 500 drivers can also personalize their car to suit their own particular tastes and preferences, with more than 500,000 variations in colors, wheels, decals, options and accessories available.

Ed Rochfort, product director at Carrot Insurance, said, "We’re excited that this fantastic product is coming to market, and that the partnership we’ve formed with Fiat has come to fruition. Forging deeper links with the automotive industry is a key part of our wider business strategy moving forward, as we recognize that the convergence between manufacturers and the provision of insurance will continue to gather pace.”

Karl Howkins, Commercial Director for Fiat Chrysler UK, commented, “Having thoroughly researched the market, we determined that Carrot's approach to insuring young drivers would be best suited for the iconic Fiat 500 and we’re delighted they are supporting our plans for i-Deal in tandem with their partner, Zurich Insurance.

"This all-inclusive insurance package deal will make the dream of driving a brand new Fiat 500 a reality for many young drivers who would otherwise be forced to drive an older and potentially less reliable and safe vehicle.”