If you own a vehicle here in Bahrain or are gearing up to get one in the near future, car insurance is a subject you shouldn’t take lightly. There are multiple car insurance providers with an even wider array of policy options on the table. But how many of us actually do the research and spend time reviewing the range of options before choosing one? And even more importantly – how many of us actually spend the time understanding the small print in the entire process?
The fine print of your insurance policy, including its different features, exclusions, terms and conditions are of great importance. As a policyholder unaware of these intricacies, you could end up making a claim that’s going to get rejected or even worse – have your policy invalidated. For this reason, it is a good idea to go through the entire policy including all of its fine print before making your decision.
In this article, we’re going to discuss factors that are covered in the small print of a policy document and how they impact the benefits of the policy.
Deductible rate
Whether you’re choosing a policy with a higher or a lower deductible rate, or one with none at all, is also a decision you’re going to have to make. It is pivotal to acknowledge that sometimes, a low insurance premium will have a higher deductible as a result. And the higher your deductible rate, the higher will be your out-of-pocket expenses when making a claim. Therefore, when signing up for a car insurance cover, make sure you’re aware of the specific deductible rate and whether it works for you or not.
Off-road coverage
If you’re the type that enjoys going on an adventure and enjoying some off-road terrain, make sure you choose an add-on feature that covers your off-road adventures. And not just that, also make sure you thoroughly review the benefits mentioned under this off-road coverage. There are policies that inhibit your coverage with respect to the distance from a paved road.
You can simply visit Souqalmal.com to compare multiple quotes from leading car insurance providers in Bahrain. Not only can you pick a policy that fits your budget, but also choose between a range of optional features to find a car insurance plan that truly meets all your requirements.
Cover for natural disasters
One of the major factors that make a comprehensive insurance policy superior to a third-party one is that your vehicle is insured against a host of different damages. If you are interested in getting a cover against damage due to natural perils like dust storms and floods, make sure that the coverage is inclusive of such natural disasters. Don’t assume that all polices cover this automatically – This may not be the case.
Valuation
When applying for a car insurance quote, you will be asked to provide a value for your car. Although insurance providers will estimate the value of the vehicle, you will usually be provided with a range and a minimum and maximum value, and you can pick the value of the car from within this range. Many car owners ignore this useful feature and go with the value provided by the insurer. This is especially detrimental when insuring a more expensive car, which may be valued lower than what it should be worth.
To Be Continued…
Find out further about what’s hidden in your car insurance policy’s fine print in Part Two of this article.