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Everything you need to know about Car Insurance in UAE

Everything you need to know about Car Insurance in UAE - Gargash Insurance 18 Jun, 2022

Few things you need to check before getting a car insurance in UAE like benefits of car policy, Third Party Car Insurance. Click here to read more!

Unified Motor Policy

 

Oops!  My car banged. Now what will happen? How will my damages be settled? How will I get the compensation? How will my vehicle get repaired?  

We understand whenever this kind of situation arises, we panic and lose our sense of resolving the issue. Thus, to take care of such hassles and to help the customers in need there is UNIFIED MOTOR POLICY which ensures client’s reliability towards the insurance

What is the Unified Motor Policy?

The Unified Motor Vehicle Insurance Policy covers any loss and damage to the driver/rider in case they are contractually related with the insurer. Thus, the insurer will compensate the insured (drivers) in return for a nominal annual fee, most commonly known as the car insurance premium

Are you wondering why do we require car insurance and if it is really important?

Car insurance enables you to protect yourself and others on the road. Car insurance safeguards, your family members, passengers, and other drivers on the road. As the name implies, it covers almost everything, including you, your vehicle, your passengers, and property, as well as that of any other party/parties. It will provide cover if your vehicle is stolen, damaged, or set on fire, and against any liability that arises from driving that vehicle. It is also worth noting, that car insurance in UAE is mandatory for all vehicles. Hence having car insurance protects you from financial and legal repercussions in case of an accident.

Benefits of a Car Insurance:

Buying a car is one of the biggest achievements and thrills in everyone’s life, hence it is important to have insurance coverage that would make you feel confident while driving by ensuring you are protected and safe against any possible damages/incidents. Buying car insurance for the first time can be a tedious and time-consuming process as basic knowledge is required about the kind of car insurance plans available in the UAE. To simplify further, we have listed below the different types of car insurance in UAE and their details

Types of Car INSURANCE offered by Insurance authority in the UAE Market 

  • Motor Comprehensive
  • Third-party Liability only
  • Third Party including Fire and Theft

 

What is Motor Comprehensive? 

Motor comprehensive is also known as comprehensive car insurance and full insurance policy. As the names suggest is an extensive cover that insures the concerned against their own damage as well as any third-party damage.

  1. It offers a wide range of coverage options
  2. Covers accidental damages to the self or third party
  3. Compensates for more than just vehicle collisions
  4. Covers for damages caused due to man-made /natural calamities

What is Third Party Liability only?

Covers the legal liability of the Insured towards a third party who is injured/killed in an accident or whose property is damaged. This is a basic type of car insurance and is the minimum requirement for car drivers in the UAE

What is Third Party including Fire and Theft?

This coverage falls in between the third party coverage and full coverage, it covers the legal liability towards any third party along with any fire or theft that might damage the vehicle

Required Documents for a new car insurance

Once you have decided on the kind of car insurance policy you want to proceed with, you will need to start with the documentation process. Below is a list of the required documents and information required for your car insurance

  • Driving License
  • Vehicle Registration card or Mulkiya copy
  • Emirates ID
  • Vehicle value
  • claim history in case of renewals
  • No claim bonus (It is being given where there is no claim in past years and has been rewarded as a token of discount)

We have a dedicated claims team in place so we assist our car insurance clients with claims in the unfortunate situation of an accident when the need for a claim arises. The following documents will be required in order to file a claim:

  • Police Report (compulsory after an accident)
  • Vehicle Registration (Mulkiya) copy
  • Valid UAE Driver’s License
  • Emirates ID card
  • Filled claim forms from both parties

You might be required to submit additional documents while purchasing car insurance or filing a claim in certain situations, hence it’s advisable you work with a trusted insurance broker who can guide you through the process and advise in case additional documents are required.

Conclusion

It’s always said for good reason - drive safe be safe! Even though vehicle insurance only comes to use in case of accidents, its presence boosts the confidence of a driver.

Hence it is crucial to buy car insurance that meets you needs, a broker/intermediary can assist in selecting an insurance plan based on your requirements and also help you compare the different terms, pros and cons  and assist you in the decision making process. Contact us today!

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