Car Insurance

How to get the best deal on your Car Insurance

Why use Souqalmal?

   Best deals directly from insurance companies

   Avoid fraud – Pay directly to the insurance provider

   Find exactly what you’re eligible for

   No biased advice from commission-based intermediaries

Top Car Insurance Scams

Make sure you request the policy be sent to your email address directly from the insurance provider. It is easy for anyone to modify the price and other policy details before sending it to you.
It is a good idea to pay for your insurance directly to the insurance company. If you are buying a car from a dealer, request to see the policy details and price from the insurance company.
Ghost brokers pretend to be genuine insurance agents acting as middlemen between insurance providers, brokers and car owners. They often ask for payment in cash, offer the cheapest deal or instant policy issuance.
How can you be sure if your cash payment will make its way to the insurance company? Paying by credit card is a much safer way to ensure you have proof of payment directly from the provider.
This is another peril of dealing with shady middlemen. Your agent could cancel your policy and claim the refund, without you knowing. This happens especially with cash payments.
Many times, while you shop around, brokers or aggregators or providers will give you different pricing for the same policy. One of the ways they can do this is by decreasing the value of your car.
Do not fall for the cheapest deal in the market. Insurance companies do NOT go on sale. High discounts may often be a direct result of lower insurance coverage. So, remember to question any discount above 5%.
Do not trust what is being said by agents and middlemen but check the policy wording for all the facts about insurance coverage.

How To Buy Cheap Car Insurance

Car owners with a clean driving record are entitled to a discount on their yearly car insurance premium. In the UAE, this can help you save up to 20% on your next insurance renewal.
You have the option to select additional benefits to enhance your car insurance coverage. Since these come at an additional premium, you can get rid of the ones you do not need.
Increasing your deductible (your fixed share of expenses when making a claim) can lower your insurance premium. But be aware that this impacts what you pay when making a claim.
It is best to deal directly with insurance companies when looking for legitimate discounts on car insurance.
Modifications that affect the safety or performance of your car, can make your premium shoot up
If you own two cars, check with the car insurance provider if you can get a better deal if you insure both cars.
Look up the cashback, air miles or rewards points benefits on your credit card, when you pay for your car insurance with it. You also get free vouchers worth AED 1,800 with Souqalmal!
Although TPL car insurance does not cover loss or damage to your own car, it may make sense to opt for it if your car has lost its value over-time and is not as costly to repair or replace.

Is cheap car insurance really the best for you?

Cheaper does not mean better when it comes to car insurance. A cheap car insurance policy that is available at an exceptionally low premium is probably the outcome of lower insurance coverage, reduced car value or very high deductibles (policy excess).

Always question why a policy is significantly cheaper than others in the market. The answer may be in the policy wording and its terms and conditions. Rely on your own research and instead of just comparing prices, make sure you compare features and benefits too.

There is a common scam in the market. A ‘ghost broker’ will quote you a very cheap price for an insurance policy but will ask for payment in cash. He will never pay the insurance provider. That leaves you with a policy that can be downgraded to TPL or cancelled, as there is no payment proof from the provider. So, if it’s too cheap, it’s definitely too good to be true!

What are all those add-ons that come with my car insurance?

Car insurance add-ons are optional benefits that you can add to your comprehensive insurance
coverage. These benefits are available at an extra premium and can help you customize your car
insurance policy and tailor it to your needs.
Some of the most commonly offered car insurance add-ons in the UAE include:
 

Agency repair

Offers the option to extend agency repair coverage for up to five years

Personal accident cover for driver & passengers

Provides financial compensation if the driver or passenger dies or sustains a physical injury in the event of an accident, up to AED 200,000 per person insured

Emergency medical expenses

Covers medical expenses (up to specified limit) incurred by the driver/passengers within 24 hours of an accident

Off-road cover

Covers loss of or damage to the vehicle while being driven off road

Roadside assistance

Offers accident/breakdown recovery services including vehicle towing, battery jump start, tyre replacement etc.

Personal belongings cover

Covers loss of or damage to your personal belongings (up to specified limit), while in the insured vehicle

Replacement of locks

Covers the cost of replacing the locks in case your car keys are stolen

GCC cover

Extends territorial coverage to Oman, Bahrain, Saudi Arabia, Kuwait and Qatar

Oman extension

Specifically extends territorial coverage to Oman

New car replacement

Covers against total loss of a new vehicle less than six months old

Natural calamities cover

Covers loss of or damage to the vehicle due to storms, floods etc.

Dent repair

Covers the cost of paint-less dent removal

Windscreen cover

Covers the cost of repairing or replacing the windscreen if broken or damaged

What is the difference between Third-Party Liability Car Insurance and Comprehensive Car Insurance?

Third-Party Liability or TPL Car Insurance covers you if you are at fault in an accident that injures or leads to the death of another person. It also covers you if your car damages another person’s property or public property. However, TPL insurance does NOT cover damage to your own car.

Comprehensive Car Insurance will not only cover the damage mentioned above, but it will also cover the loss or damage to your own car too. Even though a comprehensive policy may be more expensive, it makes more sense to opt for it vs. a TPL policy, so you do not end having to cover your car’s repair and replacement costs out of your own pocket.

Why is car insurance a yearly cost in the UAE and not a monthly cost like in other countries?

The up-front yearly payment for car insurance is the result of regulatory requirements in the UAE. All car insurance policies issued in the country are valid for a period of 13 months. This is to accommodate for the 1-month grace period provided by the Road & Transport Authority (RTA) to renew your annual car registration.

How can I finance my car insurance premium?

Once you have arranged a call-back from insurance providers through Souqalmal, make sure to ask them if there is a monthly payment option available instead of the standard annual payment.

Alternatively, you can also convert the annual premium payment on your credit card into affordable monthly instalments. However, make sure you read about the interest rate, fees and charges applied by the card provider beforehand.