7 things to know about car insurance in Dubai

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7 things to know about car insurance in Dubai

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Oman Insurance Company or OIC, is one of the leading insurance solutions providers in the Middle East, headquartered in Dubai, UAE. OIC has strong presence in every Emirate in the UAE. For more information log on to – PowerPoint PPT presentation

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Title: 7 things to know about car insurance in Dubai


1
The 7 Things You Need to Know About Car Insurance
in Dubai
2
Car Insurance Dubai
  • Car insurance is a must criterion for all car
    owners in Dubai.
  • You cannot drive your car on Dubai roads without
    valid car insurance no matter whether it is a
    used car or a brand new one.
  • Vehicle owners need to buy their car insurance
    before the registration.
  • They can get their car insured from insurance
    companies, banks and brokers.

3
1.Comparison Is The Fundamental
  • You can find many online insurance comparison
    tools available to compare the insurance policies
    that are in the market. You should be looking at
    choosing the best plan that fulfills all your
    requirements and comes in your budget. One of the
    principles highlights to look at is Incurred
    Claim Ratio of the shortlisted protection plans.
    Moderate incurred claim ratio implies high
    chances of your claim settlement.
  • Basically there are 2 types of car insurance
    plans
  • Third party liability
  • This cover is solely concentrating for settling
    the damages of third party car and injury of the
    passengers inside that.
  • Comprehensive plan
  • This plan offers wider coverage. As a result
    this is costlier than the third party liability
    car insurance plan. This one is costlier not only
    because it covers car against the accident, fire,
    malicious acts and theft but also provides
    coverage for personal accidents if passengers and
    driver need medical care. Basically it provides
    coverage for you and third party in case an
    accident happens.

4
2.Documents Required
  • In order to start the insurance buying process,
    you have to submit the following documents to the
    insurer.
  • 1. A copy of passport main page
  • 2. A copy of visa main page
  • 3. A copy of driving license
  • 4. A copy of the registration card of the
    vehicle (If vehicle is new, need to submit
    Proforma invoice)

5
3.Know How The Insurance Premium Is Calculated
Factors Insurance Premium Amount
New car with high safety features Low
The car price is on higher end High
Age of the driver is under 30 years High
Driver with less driving experience High
GCC Coverage High
Breakdown Coverage High
Off-road coverage High
6
4.Claim For The Insurance Bonus
  • If you are already having car insurance and you
    want to switch to another insurance company then,
    you must get a No claims certificate from your
    old insurance company. When you present this
    certificate to the new insurance company, the
    certificate will provide you a benefit that you
    will be eligible to get a discount on the amount
    of annual premium when you will present this
    certificate to new insurance company.

7
5.Check That Your Insurance Covers Off-road Travel
  • On road accidents are normally covered by all
    insurance companies. But when it comes to off
    road travel, some insurer does stay backward.
    There will be many who love them. So always
    ensure that your insurance plan provide coverage
    for off road travel as well.

8
6.Ensure Your Insurance Includes Emergency
Services

  • Facing an emergency such as a flat tire or
    running out of fuel. In such cases you can
    contact insurer for roadside help if you have
    opted for emergency services cover.
  • There are some insurance companies who do not
    provide roadside cover for 24 hours.
  • It is important that you check that your insurer
    offers 247 emergency services before signing up.

9
7.Ensure That Premium Includes Compulsory Excess
  • The premium amount that you pay to the insurance
    company includes the total value of the vehicle
    and minimum compulsory excess.
  • The excess amount is charged on the basis of
    value and model of the vehicle.
  • It makes sure that you dont pay a higher
    insurance premium.

10
THANK YOU
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