Is your car insurance policy up for renewal? We sum up everything you need to know about the process, and how to go about renewing your policy in the easiest and most hassle-free way.
When is the right time to renew?
Car insurance policies in the UAE provide cover for a 13 month period. The extra month is a mandatory requirement as per UAE traffic laws, to accommodate for the one-month grace period allowed for renewing your vehicle registration.
When you are close to the 12th month of your existing policy, this is when your existing insurance provider will reach out to you with a reminder to renew the policy with them. It’s now that you will be making a choice of whether to renew the same policy or look out for other options.
What are the documents required for renewal?
You will need your passport, visa copy, Emirates ID, UAE driving license and your car registration details (Mulkiya).
What is a No Claims Discount?
Haven’t had any incidents that ended up in a claim? Good news, you are eligible for a no claims discount. It’s your reward for being a good driver and not making any claims under your existing policy.
The no claims certificate issued by your current insurance provider is your key to unlocking a lower premium on your new policy.
[Related: How to register a car in the UAE]
How will my new premium be calculated?
Your premium for the renewed policy may or may not change, based on a couple of factors. The same way a no claims discount brings down your premium, accidents resulting in claims in the past year may portray you as a risky driver and hence increase your premium. Other measures that you could use to lower your premium include, opting for a higher deductible/excess or even scaling down your policy by getting rid of add ons (such as roadside assistance, off-road cover and such).
Should I change my cover?
While sticking with your current policy might seem like less work, a closer look at your policy and its fine print might help you save on your next premium. Start with the choice between comprehensive and third party car insurance. If your car is relatively new and you have a comprehensive insurance policy, it’s best to stick with it. But if wear and tear has taken its toll on your car and repairs are relatively cheaper, you can easily bring down your premium by opting for the basic third party insurance instead.
[Related: How is your car insurance premium calculated?]
How do I get a good deal?
And finally, if you want to save yourself from all the hassle and also get the best deal, why not compare your options online instead! Even though sticking to the same provider and policy may sound like the easiest option, what if we told you’re potentially missing out on better deals.
On Souqalmal.com, you can compare up to 15 quotes from 10 leading providers, choose between comprehensive and third party car insurance and include/exclude add ons. Not only can you tailor your policy based on your exact requirements, it’s also incredibly fast and convenient – You can get a quote in just 60 seconds and have your policy processed within 60 minutes.
