Car insurance is not something you want to be without : your car insurance policy is your safeguard against damages, theft or third-party claims and gives you peace of mind when you’re on the road. It’s also a mandatory requirement in the UAE under RTA law – all car owners are required to possess a valid car insurance policy to legally drive on UAE roads. Damages and theft are only covered under a comprehensive Policy. The mandatory requirement is for Third Party Liability only.
So when it’s time for your annual car insurance renewal or motor insurance renewal in the UAE, you may be tempted to simply hit ‘auto-renew’ and continue with your workday. However, there are good reasons to review your existing car insurance before renewing.
Firstly, do you know how your car insurance premium is calculated in the UAE? Insurance providers take into account the following:
- Make, model, year and value of your vehicle
- The age of the regular driver
- Years of driving experience
- Driving history
- Record of traffic violations
- Claim history
All of the above factors, as well as any safety features your vehicle may have, are taken into account when calculating your car insurance premium. However, this does not mean that you should accept the first car insurance renewal quote that comes along. We’ve put together some tips to help you save money on your renewal of car insurance without compromising on cover.
- Compare Providers – staying with your current insurance provider might seem convenient, but shopping around for the best car insurance renewal and comparing offerings from multiple providers could save you cash.
- Evaluate Policy Features – a car insurance policy renewal is a good time to review your existing policy features and decide which to keep and which to add or opt out of.
- Avoid Policy Lapse – if you wait for your renewal car insurance policy to lapse, you’ll miss out on the opportunity to use your accumulated no claim bonus. Your policy will become inactive if you don’t renew it within 90 days of its expiry. The UAE RTA allows a 13th-month grace period as a penalty-free month to renew your insurance policy. Use this extra time wisely for research and policy comparisons.
- No Claim Discounts or Bonus – if you haven’t claimed on your car insurance policy for a few years, your insurance service provider will often reward you with a no-claim bonus – this usually increases with every claim-free year. You can use this to secure a discount when you renew or take out a new policy. Remember to apply for a no-claim bonus certificate from your insurance service provider to take advantage of any potential discounts.
Be sure to have all the necessary documents on hand when you’re ready to renew your car insurance policy in the UAE to ensure a hassle-free process. You’ll need the following documents:
- copy of your UAE passport/visa
- valid UAE driving license and copy
- car registration details
- no claim bonus certificate
At InsuranceMarket.ae we work with leading car insurers in the UAE to customize the right policy to suit your needs for renewal of car insurance. Alfred is your go-to personal shopper and will assist in making sure you get the best car insurance renewal value for your money! Our industry expertise means that we can quickly source custom quotes for you to compare and also help you choose. Get car insurance renewal quotes in your email to save you time and money. For more information, you can also read our Complete Guide to Finding the Best Car Insurance in Dubai.
