Buying a new vehicle is a dream comes true for everybody. It is a huge achievement and satisfaction in everyone’s life. However your responsibility does not finish upon buying your dream car. You need to get your car insured. Like other parts of the world, car insurance in Dubai is mandatory. You cannot drive your vehicle on the road without insurance in Dubai. If caught, not only you will face hefty fines, but may also go to jail as well. Therefore when you buy a car, make sure you get it insured to be eligible for driving on the road. The biggest advantage of having car insurance is that you don’t have to pay anything out of your pocket in case of an accident. Moreover you get an inner peace that if you get into an accident; the insurance company will take care of everything. In this article, we will talk about how to manage your auto insurance in Dubai.

HOW TO MANAGE CAR INSURANCE?

1.   RESEARCH

There are so many insurance companies in Dubai. Do not just go for the first insurance company that meets your demand. You should research and compare policies of different insurance providers. It might be a little bit hectic and require you to take time out of your busy schedule. But at the end of the day, you will be saving a lot of money and getting better perks by researching instead of just choosing a policy you deem fit.

2.   BE ON THE LOOKOUT FOR NEW POLICY

After every year of buying an insurance policy, you need to get it renewed in order to keep continuing. If you are one of those people who just renew the same policy each year then you might be making a huge mistake. Since there are many other insurance providers in the city, you never know they might have something better to offer instead of your existing auto insurance policy.  It is recommended that you look out for new policies instead of just getting your existing policy renewed each year. Auto insurance companies offer great discounts and deals to catch the attention of new customers.

3.   CHECK YOUR CAR STATS

There are some cars which have a high premium. The reason is that insurance providers do research and collect a lot of data on cars. The data gather includes which cars were involved more in an accident and which cars were stolen the most and other related stuff. So the insurance providers are well aware of the risks involved with certain types of vehicles. If you own such a car which is a high risk for insurance companies, your premium will be high. The only way you can avoid this situation is by changing the car.

4.   RAISE EXCESS MONEY

The Coronavirus pandemic has affected the majority of the people financially. If you are one of those unlucky people, we recommend that you raise the excess amount on your car insurance. The benefit of doing so is that it will decrease the premium on your auto insurance policy. Conversely, if you go for less excess, you will have to pay a high premium.

5.   CHECK MILEAGE POLICY

This is something not many individuals are aware of. The price of your auto insurance policy is greatly affected by how many miles you drive your vehicle and how often you drive it. For instance, if you drive your vehicle daily for several hours, it would obviously have a high premium. Conversely, if you drive your car for a few hours daily, it would have a lower premium. The more you operate your vehicle, the higher the premium it is likely to be. You should ask about the mileage policy from your insurance provider. Every company has its own mileage policy. So make sure you are fully aware of the terms and conditions of the mileage policy.

6.   BE VIGILANT

When you deal with your insurance agent, be on your toes. The reason for being vigilant is that these agents are very good at persuading customers. There is a high possibility that the insurance agent may fool you into buying something you don’t require at all. It could be an add-on to your insurance policy. The agent will try to trick you with his words, but don’t get fooled. If you think you don’t need it, and then categorically let him know. Not everyone is as honest as PitStopArabia. We care about your money and don’t believe in fixing your cars by tricking the customer for extra money. This is why people in the UAE and Dubai prefer to get their cars fixed or buy tyres from us due to our reliability and professionalism. We only say what’s best for you and don’t force you into anything.

Pranab Bhandari

Pranab Bhandari is an Editor of the Financial Blog “Financebuzz”. Apart from writing informative financial articles for his blog, he is a regular contributor to many national and international publications namely Tweak Your Biz, Growth Rocks ETC.