Motor insurances: online information

Consumers are now able to compare motor insurance policies offered in Malta through the MFSA’s consumer portal, http://mymoneybox.mfsa.com.mt .

The general aim of this online database is to assist consumers compare the most common benefits, exclusions and other product features of motor policies offered by insurance companies and agents in Malta.

The database excludes information about premiums, which varies according to companies, type of policy and individual circumstances. Two types of tables are featured – by insurer or type of cover (third party only, third party fire and theft and comprehensive).

The comparative database of motor insurance features complements another comparative database, launched and updated since 2006, of tariffs and charges for a number of products and services provided by banks and securities firms.

The comparative databases are aimed to provide consumers with a tool to help them identify the differences and also narrow down to a shortlist or to a particular licence holder who provides the services or product.

The databases contain information already, or potentially,in the public domain and present it in a useful, practical and achievable way.

Consumers who may not understand the information presented can seek further explanation and examples from other sections of the portal.