Most nations across the world have made car insurance mandatory. Also, the prices of cars and the expenses for their repairs are rising steadily. And, while it does not seem as though car insurance prices will reduce, there are certainly a few pointers that can help you to alleviate the burden on your pocket.
These two factors have resulted in a consistent increase in the prices of car insurance.
Read on for some simple tips to get the best deals on car insurance.
Analyze what kind of insurance you need
The first step to buying car insurance is analyzing whether you would need a comprehensive or a third-party liability plan. Generally, because comprehensive car insurance is expansive and encompasses the features of a third-party liability plan along with protecting the insurer against damage caused by himself, it is costlier than a mere third-party liability plan.
Raise the deductible
A deductible in car insurance is the amount that the insured pays in the event of a claim before his insurance begins to pay.
The primary aim of a deductible is to safeguard the insurance company against unwarranted and unnecessary claims. It also helps ensure that people are more cautious when driving.
So, if you increase your deductible to an optimum value, your premiums will reduce. By making this move, you can save a significant percentage of your premium.
But it is also important to note that you must select a deductible amount that is reasonable to you and that you can afford.
Avail no claims discount
A no claim discount is a rebate that you receive on your car insurance premium if you have not made a claim. To elaborate, if you have not made a claim on your car insurance in one year, you can avail of a substantial discount on the premium of the next year. The longer you go without making a claim, the higher the discount you can avail. Interestingly, you can also carry your no claims discount certificate to other insurers if you plan to change your current provider.
Have a good driving record
One major factor that impacts the premiums of car insurance in the UAE is the driving record of the insured. If you are not a cautious driver and are prone to accidents, you are likely to pay a higher premium than your counterparts.
It is understandable that you might be involved in an accident that was not your fault.
So, one sure-shot manner of getting a great deal on your car insurance is to be a low-risk, responsible, and wary driver.
Enhance the security of your vehicle
If your car has robust security features, it is, obviously, safer and less prone to accidents and thefts. Hence, the premium rates that an insurer will charge you will also reduce.
For instance, simple habits such as locking your car always, hiding valuables in the car, parking in a secure manner, and installing car alarms can go a long way in keeping your car and its valuables safe.
Downsize your car
The car insurance for bigger and more luxurious cars is higher because their cost of repair is also higher. Downsizing the size of your car can result in reduced premium amounts.
Eliminate unnecessary add-ons
When you purchase add-on features on your car insurance, there is bound to be an increase in the premiums. So, do away with any add-ons that you might not require.
For instance, many companies in the UAE provide a discounted international driving license add-on feature. However, if you do not plan to travel abroad, you can conveniently skip this facility.
Many insurance companies provide lucrative discounts for customers that purchase check insurance policy online UAE. This is because insurers save up on overhead costs and expenses incurred due to middlemen and insurance agents. Consequently, these benefits of reduced costs are advanced to the customers.
So, look out carefully for online deals – you might just strike gold!
These simple tips can reduce the premium amount on your car insurance substantially, saving you much in the long run.