Cheap Driving Insurance – There are many young people who decide to get their driving license just turned 18 years. Once the permit is obtained, buy a car or leave one to enjoy the road. However, the story does not end there, before doing so you have to hire a car insurance or they include you in the policy you will use if you already have one contracted. The search for insurance for a person under 25 at a good price can be a complicated task, however, it is a legal requirement of mandatory compliance to be able to travel through Spanish territory.
The obligation to hire a car insurance
Whatever age you have, you need to hire, at least, the compulsory insurance. A duty of all vehicles “suitable for traveling on the surface of the earth and driven by motor”, according to the regulation of compulsory insurance of Civil Liability in the circulation of motor vehicles.
Not having this policy can bring you a considerable fine in addition to the immobilization of the vehicle, so do not play it and hire it before getting behind the wheel. Obligatory Liability insurance is commonly referred to as “mandatory insurance”, S.O.A., or “third party insurance”.
What exactly covers Third Party insurance?
The compulsory insurance covers only the damages that a vehicle causes to a third party when the driver is included in the policy. That is, if you are guilty of an accident where material or personal damage has occurred and your insurance is only mandatory, the insurer will be responsible for the costs arising from the damage caused to others but not the damages themselves. And this as long as the driver is included in the policy.
Are insurers obliged to insure you?
As we have seen, you must hire a Car insurance to be able to move, however, insurers have no obligation to insure you. Companies can get in the way because when they are under 25 years of age, the risk they acquire if they take out a policy with them is greater. Your short experience and age, or the specific vehicle you want to insure (if you buy one with a lot of displacement) can be an impediment to “open your doors” as a new customer. So much so that while some do contemplate the possibility that at 18 you can be a policyholder, others require a minimum age of 21 or even 25 years.
In the most extreme case, it is possible that no company wants to insure you, and since you need insurance to travel, you must opt for other routes.
Nobody assures you? Go to the Insurance Compensation Consortium
There is a Public Entity, called Insurance Compensation Consortium, which is responsible for hosting all those who are not admitted to any private insurer. Now, in order for the Consortium to cover you, you must prove that you have requested at least 2 entities that assure you, and that you have been rejected by both. This “emergency” insurance is regulated by Article 5 of the Obligatory Liability Insurance Regulation. Civil in the circulation of motor vehicles, which says literally that the agency “will accept the contracting of the risk when they have not been accepted or have been rejected 2 requests for compulsory insurance by 2 insurers, unless the risk was accepted by another or other insurers at the request of the Insurance Compensation Consortium “.
The Consortium does not offer the same coverages as a private insurer, since it only provides you with compulsory insurance with the minimum essential coverages. So if your vehicle is stolen, the moons are broken, you lose the points of your driver’s license or you will suffer damages in an accident with the car, among other things, you will not be responsible.