Auto Insurance being a repetitive task in the UAE, the auto insurance industry is a vast ocean. Consider having 1MN vehicles and multiply the same with a minimum amount of AED 600. Wow… a whopping AED 600MN.
And there are lot of ways to save money on your car insurance. This articles tells on How to save money on car insurance in UAE?
Here’s how you could save money:
1. Look around for various options. There are 20+ insurance companies in the UAE. imudir.com is a good place to start. These guys provide you with quotes from various insurance companies. Try them. It’s FREE.
2. Do you really want comprehensive coverage? Though it helps to be insured comprehensively, it may not make financial sense to insure older vehicles comprehensively. Consider the money value and return that you may earn for older vehicles.
3. Consolidate your insurance with single provider. Having multiple insurance with different service providers may not fetch you good discounts. So if you already have a home insurance or health insurance with a particular insurance company, consider going to the same insurance company for car insurance. Chances are that you will receive considerable discount for the insurance.
4. Inquire about discounts. Most of us are only aware about only a NO Claims Discount. Meaning, if in the preceding year you have not had any claims to the insurance company, you are eligible for a discount. But ask for other discounts such as low-mileage driving or the successful completion of defensive driving courses.
5. Maintain a good driving record. Nowadays, insurance companies check whether a particular car has black points on the police database. And depending on this your premium might vary. Now, it makes sense to maintain a healthy driving habit and maintain a clean record.
6. Drive an economic car. A car high in value, red and sports model would definitely attract a huge premium. Consider reducing your driving palates to an economic car such as Honda Accord, City, Nissan Tiida or a Corolla and see a huge reduction in your car insurance premiums. It also consumes less fuel.
Hope these few points help you save few hundred Dirhams.
Saving money has to be the primary goal and with prudent self-discipline strategies, you will achieve the unthinkable.