Car insurance is mandatory in the UAE and you can’t register your vehicle without having a car insurance. It is illegal to drive in the UAE without a car insurance policy. No matter even if you drive well and follow all the safety precautions or not you need to get a vehicle insurance in order to legally drive your car or otherwise the authorities have the right to seize your car or impose heavy fine upon you. Before buying any car insurance or auto insurance policy you may need some tips to get aware on things to consider before buying a car insurance policy. So, Here are some tips for buying the right car insurance policy for you in the United Arab Emirates:-
- Contemplate on your options available don’t rush:- There are a lot of options available in the market for insurance and you may get stunned looking at them. You may feel to choose one asap due to the attractive marketing strategies they adapt and in the meanwhile you may ignore some important things to consider such as the inclusions and exclusions, No claim discounts, add ons etc. So, Sit back and relax and observe all your options available and then only go for choosing a policy.
- Getting the right advice is important:- If you are buying your first vehicle in the UAE then you may find it quite a daunting task to get the right insurance policy but with the right advice from right professional it will be a piece of cake for you to do it from the next time I the future. So, Get the advice from a good insurance or financial advisor before choosing a car insurance policy.
- Choosing the right policy that fit your needs:- While there are two types of policies which are comprehensive or third-party insurance policy, you have to choose the one which best suits your needs as in the comprehensive policy is suitable for expensive cars and if someone has taken a loan to buy car. Third-party insurance policy is mostly what people choose because it comes comparatively cheaper and also it is the minimum requirement. So, choose the right kind of policy as per your needs.
- Comparison is the key:- There are abundant insurance providers providing a plethora of insurance policy which comes with different terms and conditions, features and benefits. So, compare the insurance policies and do your homework accordingly before buying any auto insurance as comparison is the key.
- Do your Maths :- Before choosing any insurance policy you must understand the calculations which your advisor can help you with. Premiums are calculated on the basis of the cost of car, age of the driver, size of the engine, claims history and value of the motor vehicle. Rates can range between 3 to 8% could be on offer in the market, but this would depend on the above factors. Also, you may use the insurance calculator which is now provided by various companies to calculate and choose the best plans according to your budget. Policies from reputed insurers may include accidental recovery and breakdown service either including repairs at the garage obviously it would come with certain terms and conditions but you always have the option to assess them.
- Check for providers who offer No claim discounts:- Having a car insurance policy when you follow all the safety precautions and protocols sincerely is really no less than any asset. You may get no claim discounts from your provider while renewing your car insurance policy, if you did not claim any amount in the previous year. Look for car insurance plans that offer no claims discount. To get a no claim discount you must apply for the same with your insurance provider or you can get a letter from your previous insurance policy provider and submit it to your new insurer. By doing this you can get upto 25% of No claim bonus although it depends on your previous claim and accidental history.
- Evaluate the points above and go for the right one :- So, Now that you have gone through all the above points and made sure that you checked all the boxes and did your research and homework well it’s finally the time to choose the insurance policy that was the best as per your needs. Also, make sure that you drive carefully and follow all the rules no matter what.
So, These were some simple tips to choose the best car insurance policy for your vehicle. If you are first time vehicle buyers then definitely you will need these tips for sure and also if you are already vehicle owners even then you must have a glimpse again as revision is important. So, Here you have it stupid simple ways to select the right car insurance plan in the UAE. Remember, understanding your options and the different benefits is important when it comes to making the right choice for car insurance in the UAE.