Advice for Young People on Motor Insurance

Starting out on your car driving journey can be a challenge if you’re not fully prepared. Typically, people view those aged 25 and under as young drivers. Maltese law also states that you have to be at least 21  years  old to hire a car.

Young or newly licenced drivers have a lot to contend with on the roads. Many want to build confidence as they learn new routes and gain some experience as they drive around the island.

To become more proficient as a driver, it’s helpful to gather some key advice for young people on motor  insurance  and other crucial aspects of driving so that newly licenced drivers are prepared and feel safe on the roads.

Understanding the essentials around insurance, such as  what  are  the  benefits  of  motor  insurance  quotes  and  the  different  classes  of  motor  insurance  that are available could help you secure the right motor insurance policy to suit your needs.

Contents

●   What is young driver motor insurance?

●   Proactive advice for young people on motor insurance.

●   Secure young driver motor insurance with GasanMamo.

What is young driver motor insurance?

Young driver motor insurance is an insurance policy that caters for drivers between the ages of 18-24. This type of insurance policy covers young drivers in case of financial liability for any accidents or damage that occur when they are driving their vehicle.

Statistics show that younger or newer drivers are more likely to be involved in an accident compared to more experienced drivers. This is the reason why many motor insurance policies for younger drivers are seen to be a little more expensive.

Ultimately, insurance is calculated on risk. Insurance companies view younger drivers to be slightly more of a risk than more experienced drivers, therefore motor insurance policies are adjusted to align with these risks.

On a more positive note, there are multiple actions young drivers can take to moderate their motor insurance policies to help reduce costs and better support their driving on the roads.

One such example is telematic technology that can monitor your driving performance, which helps insurance companies to offer you more competitive deals, rewarding safe driving with decreasing insurance costs.

Proactive advice for young people on motor insurance

It can be confusing when you start to look for tips around motor insurance. Here are the top five we think will help you find the best motor insurance as a young driver:

1. Use your credit card to pay the premium

You can break down the annual insurance premium into smaller payments by paying for it with your credit card.  This will mean you will incur interest charges on the unpaid amount, but it can make the cost more manageable.

2. Buy a cost-effective car

Fast, expensive, sleek cars are an attractive prospect for many young drivers. But the cost can be less than attractive, and the more expensive and powerful your car is, the higher your motor insurance is likely to be.

If you choose a cheaper car, it’s also generally going to be cheaper to fix if anything goes wrong as expensive cars tend to need expensive parts. Adding modifications, such as alloy wheels or body kits, can also hike the cost of your car so being careful about your choices can help your pocket.

3. Increase your excess

If you don’t have a “black box”, then increasing your excess may be a sensible move. If you increase your excess, then your insurance price should decrease. An excess is the amount you have to pay if you have an accident. Your insurer would then pay the rest of the cost.

Making sure you set aside the right amount of money to cover your excess if you have an accident is a good idea so you don’t have to find the money quickly to get your car fixed.

4. Choose the right cover

It may cross your mind to just buy the cheapest motor insurance policy available. But this may be a mistake if an unexpected incident occurs to your car as your losses will not be insured. Comprehensive cover tends to be slightly more expensive but it does cover you and your car for much more.

Comprehensive cover will protect you and your vehicle if you have an accident or if your car is damaged. It will also cover third parties if they are injured or their car is damaged as a result of your driving.

5. Install a “black box”

Black boxes or telematics devices help gather evidence of your driving speed, driving performance and distance covered. This generally enables young drivers who have a “black box” installed to benefit form substantially reduced motor insurance premiums on their policy as long as their driving meets the insurance company’s criteria.

Using telematics  as  proof of your driving can help you to access cheaper motor insurance and help you keep your no claims discount over the longer term.

Smart young driver motor insurance with GasanMamo

When  you  find your motor insurance policy with us at GasanMamo, you also find reassurance and peace of mind with an experienced team of professionals.

We  have  a  specific  motor  insurance policy for drivers aged between 18-24 called Boosh. With Boosh, you instantly gain a 65% discount on your car insurance and the independence of having your policy in your own name. Plus, you can start earning your no claims discount from day one of the policy.

Discover more about  Boosh  and secure your benefits as a young driver. Get a quote today, or  contact  our  team  for a chat.

GasanMamo  Insurance  is  authorised  under  the  Insurance  Business  Act  and

regulated by the MFSA.