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It is imperative for car owners in the UAE to understand the significance of car insurance. Under the UAE motor vehicle laws, purchasing basic third-party motor insurance is mandatory for every vehicle on the road. Non-compliance with this law can result in hefty fines, suspension of driver’s license, confiscation of vehicles, and imprisonment.
Beyond legal requirements, a comprehensive car insurance policy provides you with a safety net and mitigates your financial burden. It protects against loss or damage from road accidents and potential third-party liabilities. Several add-on cover options are available with the base plan to provide enhanced protection and meet your specific requirements.
Why Compare Car Insurance Online?
Here are some key reasons why comparing car insurance is crucial before purchasing a car insurance plan:
Clarity
The comparison process gives a better understanding of the features & benefits of different plans. It also helps you get the best value proposition for your intended budget.
Choice
Several online insurance aggregators enable you to compare two or more products on different parameters, such as coverage, features, and premiums. This helps you choose the right car insurance policy in a hassle-free manner.
Convenience
Comparing car insurance online is a quick and simple process. You can now purchase or renew a car insurance policy from the comfort of your home with just a few clicks on your phone.
Cost Benefit
Several plans are available in the market at different rates. The prices for the same coverage and similar benefits may vary among insurance providers. Comparing the plans helps you get the maximum benefit with huge cost savings on premiums and agent commissions.
Customization
Motor insurance comparison helps you pick the right plan considering personal factors such as vehicle type, coverage required, driving habits, usage, and budget
Comparison Between the Types of Car Insurance Policies
Third party Insurance
This policy covers the loss or damage caused to a third party due to the insured vehicle. This is the basic insurance that has to be purchased by every car owner in the UAE. It does not cover the loss or damage caused to your vehicle.
Comprehensive Insurance
This policy covers both third-party liabilities and own damages. Unlike third-party insurance, this plan covers the loss due to accidents, theft, natural & man-made calamities.
| Particulars | Third-Party Car Insurance | Comprehensive Car Insurance |
|---|---|---|
| Coverage for third-party claims | Yes | Yes |
| Coverage for own damage | No | Yes |
| Theft coverage | No | Yes |
| Loss due to natural and man-made calamities | No | Yes |
| Add-on coverage | Not available | Several optional add-ons are available with the base plan |
| Premiums | Lower | Higher |
| Legal Requirement | Mandatory | Optional |
Factors to Consider While Comparing Car Insurance
Coverage Requirements :
The type of insurance coverage is a critical factor when you compare car insurance plans. Third-party insurance is compulsory for every car owner. Buyers have to consider their specific requirements, risk tolerance, and budgets while comparing comprehensive plans.
Add-On Covers :
Policyholders may need add-on covers to meet their specific requirements and enjoy benefits beyond the base plan. Popular car insurance add-ons include roadside assistance cover, driver cover, passenger cover, vehicle replacement cover, etc. It is necessary to evaluate the costs and benefits of these add-ons while comparing car insurance.
Claims Settlement Ratio :
The CSR is a crucial parameter to assess the reliability of insurance companies in settling claims. An insurance company with a high CSR is considered to have a robust claims settlement mechanism and commitment to its customers.
Customer Reviews & Feedback :
Reading customer reviews online provides a better understanding of an insurer’s products, processes, and policies toward its customers. Customers gain awareness of the efficiency and trustworthiness of insurance companies.
Importance and Benefits of Comparing Car Insurance
Taking Well-Informed Decisions :
Prospective buyers get better insights into insurers and their offerings when they compare car insurance plans. They can avoid being misled by the tall claims of insurance providers and choose the best product for their needs.
Deriving Optimal Investment Value :
Comparing car insurance helps you analyze the features, benefits, and premiums of several plans available in the market. Buyers with a fixed budget can get the best value for their investment by comparing the costs and benefits of various plans.
Cost Savings :
Car insurance plans vary widely in their coverage benefits and premiums. Buyers must compare car insurance to get the maximum benefits at the lowest price. They can save significantly through discounts, commissions, and premium reductions. Car insurance quote comparisons from different insurers can provide useful information in this regard.
Better Claims Settlement :
Comparing car insurance helps you identify the insurer with a good track record of claims settlement and customer service. This is crucial for policyholders who expect a quick and hassle-free settlement of their claims after an unforeseen event.
Choosing the Right Plan:
The insurance market in the UAE is flooded with several players, each offering different types of car insurance schemes. The comparison process helps you filter the insurance providers and schemes to get the best affordable car insurance plan.
How to Compare Car Insurance Online?
Motor insurance comparison is extremely easy through online insurance aggregators. Buyers can compare and choose the right plan with a few clicks on their smartphone/laptop.
You can visit the official portals of any of the popular insurance aggregators in the UAE and proceed to the section on car insurance. You will find an online form that requires you to provide specific details of your vehicle and personal information. Please enter these details accurately and submit the form.
The ensuing page details some of the top car insurance companies and their respective schemes. You can use the filter option to refine your search and get a list of insurance plans that meet your specific requirements.
For any support and assistance, you can contact the team of expert insurance advisors at Prominent Insurance Brokers.
Why Choose Prominent Insurance Brokers for Car Insurance?
The company offers a diverse range of insurance policies that can be customized to meet the policyholders’ unique requirements.
The company has sold over 26,000 motor insurance policies and successfully settled 6,000+ claims.
Fast settlement of claims is facilitated by a dedicated claims management team.
The policyholders enjoy huge savings with attractive discounts on premiums and other value-added services.
The company offers guidance from a professional team of insurance experts to help you choose the right policy.
One of the leading insurance brokers in the Emirates region with a distinguished track record of over 20 years in the insurance sector
Prominent Insurance Brokers has forged partnerships with the top insurance companies in the UAE.
Frequently Asked Questions on Car Insurance Comparison
How is online motor insurance comparison beneficial for car owners?
Motor insurance comparison helps car owners choose a comprehensive plan that provides adequate coverage, fits their budget, and meets their specific requirements. The online comparison process is simple, convenient, and free of cost.
Is it good for prospective buyers to choose a low-price policy when they compare car insurance?
A low-price policy will not be the right choice if it does not offer adequate value. Here, value refers to the benefits you receive for the premium you pay. Insufficient coverage, exclusions, and poor service are some of the pitfalls of a low-priced policy.
Can car insurance comparison help me save money while purchasing insurance for my vehicle?
Vehicle insurance comparison online helps you spot the best deals available. You can also enjoy huge cost savings through special discounts and the absence of agent commissions.
Disclaimer: The motor insurance policy or plan may have limitations, exclusions, and other terms and conditions that may affect coverage. It is important to carefully review the policy wording before making any decision.