Switch for Cheap Car Insurance in Dubai

Residents in Dubai are constantly on the lookout for cheap car insurance policies. Since car insurance is mandatory for car owners in the UAE it is not an expense they can do without. Therefore, it is imperative to find something cheap that fits the budget and doesn’t put a dent in your lifestyle.

In our previous blog, we discussed how many factors in your insurance policy affect your ultimate premium. Buyers were advised to make amendments and changes to their policy features to get the cheapest premium in the market. We also advised switching to cheaper insurance providers. This blog takes a deeper look at switching insurance providers.

When to Switch

Switching shouldn’t be the first option. Each situation is unique, and you must first analyze why your car insurance is no longer affordable. This could be a result of many factors. Let’s take each one and explore it further.

Updates to Insurance Policies

Just like the operating system of your smartphone, insurance policies also go through updates. You might get a notice of an update in your itemized bill but it won’t be communicated to you unless you ask about it. These updates can add a spike to your premium that you didn’t anticipate. They can also make cheap car insurance suddenly unaffordable.

Unnecessary on Review

A lot of the time it happens that you buy a policy only to realize that half of it is not needed by the first six months. You’re paying for unnecessary add-ons that looked good at the time of purchase. This is especially true for people who just drive from work to home every day. These extra costs build up. You can talk about modifying your policy with your provider to go for a cheap car insurance alternative.

Changes in Regulations

Often times the government issues new regulations that have a drastic change on your policy. These can increase premiums too. Talk to your insurance provider to understand what these regulations are. If possible ask your provider to work around the regulations so your policy is compliant but still affordable. If not then switch for cheap car insurance.

Too Many Claims

If you’ve had a bit of an unfortunate year and
applied for multiple claims then the insurance provider will have to review
your policy. They will have to reassess the risk you pose. After the
reassessment, they will increase your premium accordingly. There is no solution
to this than driving carefully and keeping claims to a minimum.

Claims Rejected

Similarly, if you’ve applied a claim and it has been rejected you need to review your relationship with your insurance provider. There are many factors that lead to the rejection of a claim. You need to ensure that it was not due to any negligence on your part. If the claim rejection is due to some minor technicality you need to switch to a better provider.

Bad Customer Service

Not all insurance companies provide great after-sales customer service. They tend to give it the least amount of importance. After-sales services are a true test of how dedicated a company is to its customers. If you have bad experiences with your after-sales team, its time to switch.

How to Switch for Cheap Car Insurance

Compare the Market

Just like any other purchase you should do a
thorough sweep of the market. There is stiff competition in the Dubai insurance
market. Providers are willing to slash prices if they believe a customer will
switch to their company.

So, how will you go about looking for cheap car
insurance providers?

Easy! Hop on to any car insurance comparison website, like BuyAnyInsurance, and you’re good to go. They provide quotes within seconds. It is a free platform, and you can get advice from experts on what exactly to look out for.

Wait it Out!

Don’t purchase immediately. Wait it out. The
insurance comparison website will get back to you with even more quotes and
even discounted rates after a week or so. Take advantage of the competitive market
to get cheap car insurance. Use the information we have to work in your favour.
Yet, don’t wait too long. After the 12 months of the policy have expired only a
one month grace period is offered in which you can successfully switch.

No-Claims Bonus

If you have filed no claims against your policy you are eligible for a No-Claims Bonus (NCB). This gives you a discounted rate on your current premium but it is also great if you plan to switch providers. The NCB is applicable whether you remain or switch providers. In fact, the new provider will give more consideration to the NCB. It singles you out as a low-risk investment, hence the low premium.

Inform Current Provider

Unless you want to insure the same car twice inform
your current provider of your intention to switch. They might offer you a
discounted rate just to make you stay. Evaluate the discount. Is it more or
less than what is being offered elsewhere? Negotiate with your current
provider. If they agree to the rate you’re getting elsewhere then stay. If not,
then switching is best for you.

Switch!

After you have formalized the termination of your insurance policy with your current provider, feel free to switch to your new provider. If you do all of this on an insurance comparison website, you will get your policy within 60 minutes of purchase. That is a quick turnaround. It also leaves your car without insurance for less than an hour. Traditional methods would have required at least five working days. Online switching makes things easier and quicker. Congratulations on your new cheaper policy!

Buyers go to any lengths to get cheap car insurance. This is one of the easier methods to get a cheaper quote. Just make sure that the necessary coverages aren’t ignored. Yet be assured that an expensive policy does not mean the best coverage. You can get the same sense of security and better customer service with a cheaper policy. You need to know where to look.

FAQ’s

Who is the cheapest auto insurance carrier?

Adamjee Insurance is the cheapest auto insurance company with the rates as low as AED 365 per month. 

Who is the cheapest insurer for young drivers?

Union Insurance is the cheapest insurer for the young drivers according to the young driver rate analysis. 

Is it mandatory to buy third party car insurance?

Yes! You must buy at least one third party car insurance in the UAE.

Read Also:

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An Extensive Guide to Compare Car Insurance Prices in Dubai

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