Buying a car is exciting, engaging, and brings happiness to the car owner. And the best possible way to take care of your new car is by getting a car insurance policy from a reputed insurance company.
And in UAE, an unregistered car is not allowed to hit the road. To register your vehicle, you must apply for a car insurance policy. Choose the insurance policy that offers medical coverage, property, and liability coverage.
Moreover, there is a law that asks car owners or drivers to get mandatory car insurance in the Emirates.
Getting a car insurance policy that offers many different coverages could be expensive depending on various car-related factors. But, you cannot ignore getting the car insured. Nonetheless, there are a variety of tactics by which you can pay significantly lower premium rates.
Below are eight best and valuable tips for buying the cheapest yet best car insurance policy in UAE.
Buy the car that is economical and best suited for you.
You cannot apply for a car insurance policy without buying a car first. So, while you go to get a new car, purchase the one that suits them best to your requirements and purpose. Buying a four-wheeler is not in everyone’s hands, so while you have it, make an informed decision considering all related factors.
If you get a low-profile car, then you can easily buy cheap car insurance in UAE. Suppose you have a luxury car, SUVs, or a sports car. In that case, you indeed have to pay a hefty premium for expensive car insurance coverage.
The type of your car, its specifications (like car brand, model type, tire, life expectancy, mileage, speed, etc.), and features affect the cost of your car insurance and the insurance premium.
Compare various car insurance plans to get the best out of lots.
The comprehensive car insurance plans have seen a bump in premium rates after introducing a new tariff by the UAE’s insurance authority. So, when you wish to apply for good car insurance coverage, cross-check all the available and cheap insurance plans. Comparing the pros and cons and ultimate benefits that the insurance plans offer. Lastly, you should go for the one that provides maximum insurance benefits yet demands minimal insurance premium.
Consider third-party insurance
Since car insurance coverage is mandatory in UAE, getting third-party insurance will also do the job as it meets the legal liability. However, third-party insurance does not cover the insured vehicle. It instead covers the policyholder’s legal liability only in case of third-party’s death/bodily injury or third-party’s property loss/damage. In any case, it is a cheap insurance option.
A good driving record help get a better insurance claim.
The RTA Dubai evaluates the driver’s driving performance and provides a driving experience certificate. This certificate helps you get cheap car insurance as it approves your credibility as a driver.
So, when you hit the road in a car, always remember to drive safely and prevent any possibility of accidents to maintain an acceptable driving record. It helps in getting a low-cost car insurance policy.
Increase your voluntary excess or deductible.
Voluntary excess or deductible is the partial amount of money out of the claim amount that the policyholder agrees to pay if any car-related mishap like theft, accident, etc. If the policyholder opts to pay a high deductible, then the premium cost will eventually be lower.
But, do not choose to pay a high voluntary excess in want of cheap insurance cover. You should thoroughly discuss this matter with the car insurer to know how it affects the car insurance policy costs.
Ask for any special discounts if available.
Many insurance companies offer different types of discounts and deals. These discounts also vary considering the policy holder’s profession, residence address, or other significant factors. But the company is not going to outright tell you about such discounts unless you ask for it.
So, remember to enquire about any possible deals or discounts before you finalize your car insurance policy.
Reduce your car’s mileage count.
Insurance companies tend to charge a higher premium if you cover a longer mileage. As per the insurer’s view, this happens because a car with higher mileage is more likely to get into accidents and eventually cut off the car’s lifespan. To get cheap car insurance coverage, one way is to reduce your mileage. That’s why you should always try to drive shorter distances considering the necessary needs.
A single policyholder can get multiple car insurance.
This strategy is valid only for those individuals who own more than one car. So if you are multiple car owners, the cost of the combined car insurance policy will be relatively lowered. The insurance company would probably take you as a priority customer and offer insurance deals/discounts for further benefits.
After getting a cheap car insurance policy, you can also include add-ons to get extra coverage like off-road coverage, rental car, roadside assistance, personal accident cover, etc.