The above video explains how a driver with a better claims experience is less likely to cause an accident according to some insurers. But you’d never know in a place like Dubai – some insurers say that if you haven’t claimed in five years, you’re probably due to have an accident!
For the insurers that believe in the former school of thought, you’re a better risk for them if you have a history of no claims for a certain number of years. This, therefore, makes them want your business more, and hence they give you a discount to attract you to buy their policy.
The next step is to prove to the insurance company that you have a history of no claims for a certain number of years, based on which we provided you with our insurance quotes.
Some insurance companies are quite rigid in their approach to protect themselves from potential fraud; hence, they will only accept an official no-claims certificate from a UAE insurance company. Other insurers are more flexible and are willing to take a certificate or email from any insurance company worldwide, confirming your statements regarding your no-claims history.
And then, finally, there are those insurance companies that trust InsuranceMarket.ae and our clients so much that they are happy to accept a simple email from the client confirming claims history and the policy number with which they were previously insured. The reason this process was implemented was due to the practical difficulties and costs associated with obtaining such certificates. Moreover, we trust our clients’ statements and have never had (fingers crossed!) any incidents of fraud – so we thought that if you’re telling us you’ve not made any car insurance claims for a certain number of years, why not just take your word for it?
Obviously, should we later learn that this information was incorrect or misrepresented, the insurance company won’t pay your claim, and we’ll support them in this respect. This is because we completely believe in the fundamental insurance principle of Utmost Good Faith. Having said that, it’s clear to us that nobody would risk the protection of an asset worth say AED 100,000 to save around AED 500 in insurance premium! Moreover, it’s also a criminal problem here in the UAE! (So, potential fraudster, one in every 10,000, please be warned and stay clear!)
All said and done, as long as you’re not lying about your no-claims history, this is a hugely convenient facility that we’ve set up exclusively for our customers – just for you! With you as the policyholder, here is the format of the no-claims self-declaration email that we require from you:
I can confirm that I have not made any motor insurance claims in the past 3 years. I have previously been insured with the following insurance companies for my claims-free years:___________________ with the following policy numbers:_________________. I understand that the insurer reserves the right to deny an insurance claim if this information is incorrect.
Once we’ve received this, we can send you your insurance policy at the great discount rate as quoted! To learn about the timeframes involved, click here.
