Just as you wouldn’t buy the first car you come across, it also makes sense to take your time when choosing a car insurance policy. Car insurance is a year-long financial commitment and no ones wants to get stuck with a policy that’s not right for their needs.
For new car owners especially, the idea of buying their first car insurance can be quite confusing. After all, there is no shortage of car insurance providers and insurance products in Bahrain. So how can you find a well-rounded policy for yourself then?
The Souqalmal.com team has rounded up six of the most important factors to keep in mind when you’re choosing your first car insurance policy…
Understand your requirements
There are two broad categories of car insurance coverage plans available here in Bahrain, which you can choose based on your budget and requirements. The first is ‘third party liability’ insurance. This is pretty basic and offers protection against third party claims in case your car damages a third party car, property or injures another person. Under this coverage option, the insurer is only obliged to reimburse the damages caused to a third party affected in the collision. This means that you don’t get damages to your own car covered. The second option, comprehensive coverage, offers broader and more robust protection. Thus, damages to your vehicle caused in cases of collision, burglary, vandalism, and natural disasters are all covered under this type of a policy.
Go through the policy features carefully
It is important to understand the coverage being offered under specific car insurance plans before you choose one. Not only does it make sense to find out what categories are included in the coverage, but you should also check the maximum coverage amount offered under each category. Reading through all the benefits, limitations and exclusions within a policy ensures that you are fully aware of what you’re signing up for.
Educate yourself about ‘add-on’ features
Most car insurance plans come with a long list of standard features. However there are additional coverage features that you can use to boost the overall coverage. These smaller optional add-on features or ‘add-ons’, as they’re called, are almost always available with most insurance plans these days. Examples of such add-ons include replacement car hire, personal accident benefit, renewal premium protection and others.
Get acquainted with the terminology
Car insurance policies are filled with complicated terminology and jargon that most car owners may find difficult to understand. Terms such as ‘deductible’, ‘total loss’, ‘insured declared value’ and others make up important parts of your overall coverage. So be sure to get acquainted with these and all others to truly understand the benefits offered under your policy.
Souqalmal.com aims to simplify the fine print within your car insurance policy. Visit our blog regularly to find out more!
Understand deductibles
A deductible is a fixed amount that you are required to pay whenever you raise a claim against your car insurance policy. The amount payable towards the deductible could vary, depending on the policy you have chosen. Usually, you can opt to pay a higher premium if you want the compulsory deductive to be lower or not applicable at all.
Compare before buying
When making your first vehicle purchase, did you just dive in and buy the very first car you saw? Probably not, right? In the very same regard, insurance schemes are also quite pivotal to your driving experience and investing the right amount of time in doing your homework and comparing the available schemes is important.
Souqalmal.com helps you with this comparison, allowing you to choose a car insurance policy that suits your requirements. You can compare multiple quotes within minutes, pay for your chosen policy securely online and have your policy delivered straight to your inbox.