Insurance premiums can be a significant expense for many people. Car insurance being a necessity in the Emirates is one of those must-have items which can put a major debt on your monthly bills. This is why every car owner wants to acquire the best insurance rate possible. So, if you have bought a car recently, you must start looking for insurance brokers in Abu Dhabi in order to get your car insured with the best policy.
There are many possible ways in which insurance brokers in Abu Dhabi can minimize the rates of the car insurance policy that you buy. A few of them includes:
- Safe Driving: first and foremost drive safe! Having a good driving record can earn you cheaper auto insurance rates. Insurance companies will not trust a person having an unimpressive driving history and thus will ask for higher payments.
- Shop Annually: you should compare auto insurance rates of competing companies almost every year as different companies cut their prices in order to attract new business.
- Keep a check on your annual premium: if you are paying for collision and comprehensive coverage of an older car you might find yourself paying more in insurance than the worth of the car. If your yearly premium is more than 10% of your cars actual value then it is probably time to seek cheaper coverage.
- Invest in car safety features: drivers having adequate safety features such as airbags, anti-lock brakes, anti-theft systems, immobilizers and head restraints may be eligible for discounts on their auto insurance premiums. Cars with more safety features are statistically less likely to be in an accident or stolen than those that don’t have these features.
- Don’t be too quick in buying a new vehicle: owning a fancy new car will also land you the most expensive insurance policy to cover it. The cost of insurance is inversely proportional to the age of the vehicle. The older the car is the lower the insurance premiums.
- Skip the sports car: sports car are more expensive to repair and popular with thieves and thus are famous in the auto insurance industry for needing high insurance.
PIBCo is one of the best insurance company to buy a motor insurance policy from.
- Claim settlement policy: first and foremost factor to consider for insurance is the claim settlement policy of the company. Choose a company with good track record of claim resolution.
- Coverage: one must determine how much insurance is needed. Usually car insurance policies cover third party liability and own damage where third party liability is mandatory whereas own damage is optional. Opting for both is considered the best option.
- Cost: your car insurance premium is based on the Insured Declared Value (IDV) of your car. IDV is the maximum amount that you can claim under a motor insurance policy. It is thus important to declare the right IDV and select a policy that offers maximum IDV.
- Customer Service: thanks to technology the insurance policies are now issued, edited or cancelled instantly. The insurance company’s providing such services to the customers are a better option.
- Communication access: contact information of the insurance company should be easily accessible so that if an individual faces some problem he should know whom to contact.
Besides the above, you can also attain the following benefits:
- No claims discount: it is a discount awarded by your insurance company if you have not made any claim on your existing car insurance. It can be claimed both while purchasing a new vehicle or renewing an existing policy.
- Seek add-on covers: buying add-ons for car insurance can mean you get optimum protection. It is important to select and pay only for the right ones.
- Opting for voluntary deductibles: with this option you agree to share the costs of repair in case of any claim, resulting in a lower premium for your insurance plan.
- Timely insurance renewal: the car insurance should be renewed before the expiry date to prevent loss of coverage.
PIBCo is one of the best insurance companies that should be considered for purchasing a policy from the car insurance brokers in Sharjah.