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Contracts, Hire Purchase and Insurance
Specific Ages
AT ANY AGE
Can I make a contract?
Yes. A “contract” is just the word for an “agreement” that you intend to be legally bound by. There has to be an agreement ‘between the parties’ (i.e. on both sides). For example, one person agrees to sell something for a particular price and the other person agrees to buy it. However, although you can make a contract at any age and can hold the other person to his or her side of the deal, there are special rules to protect children and young people and stop them being bound by contracts that are unfair or unreasonable.
(Minors’ Contracts Act 1969)
Can I take out car insurance?
You can take out car insurance at any age in respect of any car that you own, but you cannot be insured to drive the car until you hold a legal licence, the minimum age for which is currently 15. While you are young and a new driver your insurance policy will have a large “excess”. “Excess” is the portion of any loss or damage (to your car or another car or property involved in an accident) that is not covered by the insurance company. The excess on your policy should decrease after you have been driving a few years, although the insurance company will also take into account the type of car you drive and whether you have caused any accidents or been convicted of any driving offences. Unfortunately some insurance companies will not agree to insure young drivers, especially young males under 25 years, because they figure proximately in vehicle accident statistics. If you are able to obtain insurance, it may save you a lot of money if you have an accident.
Can I take out travel insurance?
You can take out travel insurance at any age for overseas travel which will cover your medical expenses if you have an accident or illness, compensation for injury; lost or stolen property and travel delays. You should check the policy for the exact conditions. If you are travelling with your parents or caregivers and are under 20 and unmarried some insurance companies will include you on your parents/ caregivers’ policy at no extra charge.
AT ANY AGE
Can I make a contract?
Yes. A “contract” is just the word for an “agreement” that you intend to be legally bound by. There has to be an agreement ‘between the parties’ (i.e. on both sides). For example, one person agrees to sell something for a particular price and the other person agrees to buy it. However, although you can make a contract at any age and can hold the other person to his or her side of the deal, there are special rules to protect children and young people and stop them being bound by contracts that are unfair or unreasonable.
(Minors’ Contracts Act 1969)
Can I take out car insurance?
You can take out car insurance at any age in respect of any car that you own, but you cannot be insured to drive the car until you hold a legal licence, the minimum age for which is currently 15. While you are young and a new driver your insurance policy will have a large “excess”. “Excess” is the portion of any loss or damage (to your car or another car or property involved in an accident) that is not covered by the insurance company. The excess on your policy should decrease after you have been driving a few years, although the insurance company will also take into account the type of car you drive and whether you have caused any accidents or been convicted of any driving offences. Unfortunately some insurance companies will not agree to insure young drivers, especially young males under 25 years, because they figure proximately in vehicle accident statistics. If you are able to obtain insurance, it may save you a lot of money if you have an accident.
Can I take out travel insurance?
You can take out travel insurance at any age for overseas travel which will cover your medical expenses if you have an accident or illness, compensation for injury; lost or stolen property and travel delays. You should check the policy for the exact conditions. If you are travelling with your parents or caregivers and are under 20 and unmarried some insurance companies will include you on your parents/ caregivers’ policy at no extra charge.
YouthLaw |
Latest page update: made by YouthLaw
, Sep 8 2010, 8:46 PM EDT
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Keyword tags:
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legal ages
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