If you own a car in the UAE you have probably bought car insurance and swept it under the rug. Even though you might be getting a good night’s sleep thinking your car is protected, are you convinced that your policy is the ‘right one’?

Ensure that you get what you’re paying for, by avoiding these six common mistakes.

You go with the cheapest option

Yes, legally you are good to go if your car has at least the minimum level of cover that is – third party insurance. But is this basic protection adequate to cover the costs should there be an accident? While it may pay for the damages to other parties, any damages to your car will be paid from your own pocket. The cheapest option does not give you the coverage you really need and costs you more in the long run.

You buy a very expensive policy

On the other hand, more is not always merrier, expensive does not always mean better. If your insurance costs weigh heavy, it’s time you revisit them. If you drive less frequently or your car isn’t worth much to you, cut down on your coverage. This can be achieved by doing away with the extra features in your policy that you don’t think you would end up using.

[Related: How is your car insurance premium calculated?]

You don’t compare your options

With tons of players in the market, you have plenty of providers to choose from, so why not hunt for a good deal? Do your research by comparing policies from multiple providers while keeping the coverage and cost the same for an apples-to-apples comparison. For e.g., on Souqalmal.com you can compare up to 15 insurance quotes in less than a minute and receive your policy within an hour.

And why pay full price when there’s a discount waiting? Make sure you look out for such deals and discounts before committing.

Your deductible is too high/too low

Deductible is the amount that you pay before your insurance kicks in. The general rule of thumb is higher the deductible, lower the premium. The question is would you rather pay a higher premium or more money out of your pocket in the event of an accident? Do the math and choose an amount that you would be comfortable paying, not too high, not too low. Seek advice from an expert if need be.

[Related: Why your car insurance claim won’t be accepted]

Your car’s valuation is too high/too low

Most insurance providers will ask you for an estimated value of your car when applying for a policy. Always answer honestly or you risk getting the wrong coverage. The valuation of your car is also what will determine the right type of coverage for your car – comprehensive or third party. In case of a valuation too high, you end up with a more expensive policy with comprehensive features. On the other hand a valuation too low puts you at risk of high costs not covered by insurance.

You are buying insurance from the car dealer

If you just bought a brand new car from a local dealership, you might have already been offered a car insurance policy. Even though this may seem easy to grab, this is most likely from your automobile dealers’ preferred insurance partner. Get a quote for a similar policy from a couple of other providers to ensure you are getting the right value.