The world is facing a serious inflation crisis lately. Buying a car and maintaining it has become expensive in UAE. Adding the car insurance policy to it makes it heavier on the pocket. Having your car insured is a necessity in UAE but paying high premiums for it is not.
Don’t know how to save money by reducing car insurance premiums?
Let us help you with some tips below!
Size and type of the car
The car insurance policies and their ranges vary according to your vehicle. It will cost you low premiums if you have a small or medium-sized affordable vehicle. But if you opt for a large SUV, you will have to pay large premium amounts.
Similarly, the type of car also matters. Having a brand-new Audi or Porsche will cost you expensive car insurance. But a simple Toyota or Honda can save you money.
Therefore, choose a simple affordable car if you want to reduce your car insurance premiums.
Your premiums depend on what kind of driver you are. If you are a good responsible driver, it can reduce your car insurance premiums in UAE.
UAE has a system of black points. When a vehicle meets an accident or commits an offense, it gets black points. The more black points, the higher the risk of getting into an accident again. Consequently, insurance companies will not agree upon lesser premium offers with you. But inversely, driving carefully and having zero black points assure the insurance company that the vehicle is in safe hands and thus you can agree on lower premiums of your choice.
In short, drive safely and save money!
Don’t rush for the first offer!
Don’t sign the first insurance policy you see immediately. Do a little research. Find and compare the packages. It is more likely to get your desired benefits and claim with a lower premium if you investigate what other companies offer.
Knowing and searching about insurance policies has become easy because all of them have online websites for your ease. Just visit the site, compare the premiums with desired benefits, and choose the best one. That’s all you must do!
Know what matters to you.
Only you know the best about your driving skills and your vehicle. On this basis, you can decide what you are looking for in a car insurance policy. If you have done a heavy investment in buying a luxury car, you will not want to risk it by having a low-claim insurance policy. But if you are a confident and careful driver, you would know the risk rate is low.
Therefore, what you want decides the premiums you pay!
The amount of money you agree to pay if your vehicle gets into an accident is known as deductibles. Estimate the amount you can manage to pay by yourself in crisis. The larger the amount paid by you; the lesser will insurance company have to pay. Resultantly, in decreasing the car insurance premiums.
Try to pay a higher deductible to reduce the premium!
Insured Declared Value of Car
The value of your car that you claim, and the company agrees to pay in crisis is called the insured declared value of the car. This value completely depends upon the condition of the car. The finer the condition, the more valuable your car is.
So, maintain your car well and take good care of it. because it can save you money by reducing the premiums.
The final agreement
Don’t forget to read the final print before signing the insurance policy. Make your you get all the benefits you are paying for. Avail of those benefits at the required time and you will be happy with the premiums you pay.
Renewal of insurance policy
Every insurance policy has an expiry. If you don’t renew the policy before it expires, you will have to pay a penalty or go through the whole procedure of buying an insurance policy again.
It is best to renew your car insurance policy a month before it expires. It will save you money.
Without car insurance, you are always at risk. Therefore, car insurance in UAE is a compulsion. But you don’t have to pay heavy premiums for your insurance policy. Choose wisely before getting a policy. Keep in mind the tips and tricks to save your money and have maximum benefits.
Hope this article helped you reduce your car insurance premiums!