Susan, Kurt:
The issue with the insurance is not whether or not Malta accepts the European green card, it is whether or not the individual insurance company writing the policy wants to extend coverage ON THAT POLICY to include Malta.
By example, at my workplace in Switzerland we have several company cars, one is a VW Golf and the other is a fairly expensive Mercedes. Both cars are insured by the same company, but the Golf is insured for Hungary, Slovakia, and Morocco, and the Mercedes is not. I suppose we could get coverage for the Mercedes in these countries if we asked (and were willing to pay more).
The motorcycle insurance I got from Motorcycle Express, although expensive, covered just about every country between Iceland and Israel (inclusive), with the exception of only Iraq and Bosnia/Herzegovina. But, the €25 a month liability-only insurance that ADAC (the German auto association) sells only covers the EU countries plus Switzerland.
Bottom line - it's up to the insurance company what boxes they want to tick off on the form.
PanEuropean
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