10 Important Things you should Check before Buying Car Insurance in the UAE
While buying motor insurance for your car in the UAE, there are a few things you need to check. It will help you to make the best choice as there are plenty of options available in the market. Even after getting the car insurance policy, you should check the details mentioned in this article so that you can have a complete clarity about your car insurance plan.
The policy document has all the required information about the various inclusions and exclusions of the policy. You must go through a fine print the policy copy as it will help you to know the coverage you have and the risks are associated. In case you have any doubts, you can get in touch with the customer support customer support team.
1. Get Proper Evaluation of your Vehicle
It is important to get the proper evaluation of your vehicle because the insurance companies evaluate the vehicle based on several parameters like the age and overall condition of the vehicle.
Having said that, new vehicles have less depreciation value. As a result, they will have a good evaluation that is close to the purchase price of the vehicle. On the other hand, old vehicles will have a high depreciation value and will be evaluated at a lesser price.
The coverage offered for the car depends on the current market value of the car. You should get this figure right while buying insurance for the car.
When you go for car insurance UAE, it will help you to get optimum coverage at the best insurance premium.
2. Choose the Suitable Plan: Third-party vs. Comprehensive Coverage
Knowing the basic difference between third-party cover and comprehensive cover will save you from a lot of trouble in future. In case of an accident, the third-party cover fulfils your legal liability for bodily injuries, death or third-party property damages.
However, the plan does not cover damages caused to your own vehicle. The advantage of buying this plan is that it attracts a basic insurance premium. In case you have an old vehicle, you can opt for it as the basic insurance coverage would be sufficient for the vehicle.
When you consider the comprehensive insurance plan, you get an extension of the third-party insurance plan. It offers protection for own damages as well. In case of an accident, it covers the damages caused to the third-party as well as your vehicle. Since the plan offers comprehensive insurance coverage, the cost of this plan is higher as compared to a third-party plan.
The advantage of buying this plan is that you can get coverage even for non-collision damages. When your car is stolen or is damaged due to fire, accident or natural disasters, you get insurance coverage.
A comprehensive insurance plan is the best option for new vehicles and expensive cars as it offers better protection. You can get the best car insurance UAE by comparing various motor insurance plans.
3. Select the Best Service Provider in the Market
The quality of services you get is very important as you will be paying lots of money to get sufficient protection for your car. In this regard, it makes sense to deal with reliable companies that have a good reputation in the market.
Always watch out for the claim settlement ratio of the company as this figure indicates how prompt the company is in settling the claims.
It is a good idea to look for the companies that have a good reputation in the market as they will offer good service at their huge network of associated garages. This will help you to get a cashless settlement without any hassles.
Also, make sure that the service provider offers online services as this will save you lots of time. You can avail this service for online policy renewals.
You can even get in touch with the customer support team and discuss your doubts about car insurance UAE plan offered by the company. It is a good way to understand their approach towards providing quality service to customers.
4. Compare Plans from Multiple Service Providers
When you compare the insurance plans from multiple companies online, you can get better deals. The plans may vary slightly and this will make all the difference in the insurance coverage and insurance premium.
By comparing the plans, you can select the plan that suits you and fulfils your insurance needs. Doing so will ensure that you don’t have any regrets later on.
It is very easy to compare motor insurance plans online. All you have to do is to visit the online portals that provide information about car insurance UAE plans and conduct an online search in a matter of a few seconds.
Additionally, you can even get free quotes from various companies online from the comfort of your home.
Once you have a detailed understanding of the plans, you can buy motor insurance online. This is the best way to save time as well as money on insurance deals.
5. Check the Sum Insured Value in the Policy
Once you buy the policy from the insurance company, you need to check various details properly. It is not because there will be any discrepancy; it is just to be sure.
As mentioned earlier, read the document carefully as it will help you know about the policy coverage so that there is no room for any confusion or assumption.
The most important thing that you need to check is the sum insured offered by the policy. It is the maximum amount of coverage you can get from the insurance company in the event of complete loss of the vehicle.
This value should be close to the current market value of your car and only then buying insurance will make sense in the long run.
The sum assured will be clearly mentioned in the policy document.
6. Check the Inclusions of the Policy
Inclusion is the coverage offered by the policy i.e. what all is covered in the policy.
In simple terms, you ought to know what is covered by your insurance policy. In case you don’t have clarity about the insurance coverage, it will affect your claim.
If something has been promised by the insurance provider, cross-check the same in the inclusions section in the policy document.
7. Check the Exclusions of the Policy
Exclusion is what isn’t covered by the policy. Just like the inclusions section, you will also find the exclusions section in the policy document. This section will indicate what all is not covered under the policy.
It is important to have a clear understanding about exclusions as you will know the risks involved in future and you can take suitable precautions to avoid them.
Here are the basic exclusions of motor insurance plan:
- When the driver drives the vehicle under the influence of alcohol, the policyholder won’t be entitled to
- If the policy is not renewed before the due date, it will lapse and the coverage will cease to exist.
- Similarly, when the vehicle is used beyond the coverage limits in terms of geographical area, the policyholder won’t get insurance coverage.
8. Check the Add-on Covers Carefully
The insurance companies offer various add-on covers to fulfil the insurance expectations of the insurance buyers. By opting for add-on covers, you can enhance the basic insurance coverage of your insurance plan.
This is completely optional and you can opt for it if the basic insurance plan doesn’t fulfil your insurance expectations. Also, understand that this comes at additional cost apart from the regular premium you pay for car insurance UAE.
The advantage of opting for add-ons is that it allows you to customize your plan as per your insurance expectations.
Some add-on covers are only useful when you use your vehicle for adventure rides in the desert or other locations.
9. Make Sure that Details are Correct
You must go through the policy document and check if there is any mistake. In case there is, get it rectified as soon as possible.
This is important as your claim can get rejected if the details in the claim form don’t match with the details of the policy document.
10. Check the Validity of the Insurance Policy
Every car insurance UAE policy comes with an expiry date. Remember that the insurance coverage ceases to exist after the end of policy term. You must renew your policy before the policy expiry in order to enjoy the continued coverage.
If you use your car even for a single day after the policy expiry, and you met with an accident, it will not be covered by the insurance company. You will have to pay additional fees as a penalty to renew the lapsed insurance policy. For this reason, it makes sense to renew it before the due date so that you can enjoy uninterrupted coverage for your car.
Over to you
These are some of the best things you should note about car insurance in UAE. Once you carefully understand them, you will not face any problems in future. You can reap the complete benefits of insurance coverage when you know it.
Also, remember to drive safely and avoid any causing any damage to your car as this will provide you with discounts on the policy renewal.