If you are planning on renewing your car insurance ahead of time and have some concerns if that would be possible or how it might go, read the blog below!
If you are planning on a long vacation back home soon you might also be planning to renew your car registration and insurance ahead of time so that everything is in order when you are back in the UAE. It’s great to be organised! However, you’re not sure how that would work or whether it’s even possible. Allow us to help answer some of your concerns!
The Verdict: possible or not
Yes, it is possible to renew your car insurance before the renewal date, however, it might not work the way you think. For instance, in the UAE it isn’t actually possible for two insurance policies to co-exist at the same time. To know more on that matter, read our previous blog: Can Car Insurance Period Or Type Overlap In Any Way?
Cancelling and re-writing or put simply, buying “fresh” car insurance before the renewal date would actually cancel or void your current insurance policy and all the remaining months it has left: not to mention forfeiting some of the hard-earned dirhams you have paid. Of course, we’re assuming you are not talking about one month or a couple of weeks, and that is a different situation. Rather than cancelling and “re-writing” your policy, it may be possible to renew in advance if you are only a couple of weeks or up to one month prior to your usual renewal date, so there should be a reasonable solution for you.
Important Things to consider
- If your renewal is more than one month away, it is strongly advised that you weigh up the cost of cancelling and re-writing your current insurance to renew your car registration ahead of time to see if that is possible and financially reasonable.
- If you are happy and willing to renew with your existing car insurance provider, you should contact them in advance and check if they are okay with that. You should note that rates change on a regular basis and as such, some insurers won’t be able to offer you the same rate if you renew ahead of time. This is logical as you might have an accident or incident in the period between now and renewal so not able to add one more year to your no claims streak! Always check with your Insurer as to what they can offer you for advance renewal. If it’s less than a month away you shouldn’t encounter too many issues as most Insurers will look to “invite” you to renew with them within 30 days of your renewal date anyway.
Of course, you can contact some experienced people for their views and suggestions for the best move to make for any insurance situation you find yourself in. Luckily we know just who to contact!
Make life simple and reach out to our insurance advisors at InsuranceMarket.ae! They’ll be happy to answer any insurance queries you might have or help you in buying the most valuable insurance deal within your budget. Don’t take our word for it, give them a try today!