How to Purchase Car Insurance Online?March 21, 2023
Personal vehicles are the need of the day for everyone.
Though they offer plenty of benefits, they have their own sets of risks as well. Vehicles on the road are vulnerable to accidents and the smartest way to safeguard yourself and your vehicles is by having car insurance.
Car insurance is a financial safety net for your vehicle in case of an accident, theft, etc. or damage to a third party or their property.
It provides coverage to you and your car, along with the damages caused to the third party.
Buying car insurance has become easy these days. You can easily buy a policy online by following some simple steps. In this article, we will discuss buying car insurance online for your car.
How To Select a Suitable Car Insurance Policy
To make an informed decision, here are a few factors you should consider before buying car insurance -
1️⃣Analyse Your Needs
Before purchasing a car insurance policy, the first step is to analyze your needs and requirements.
Different insurers provide different policies to suit the needs of people.
So, decide the type of cover you want to buy, the cover amount, along with additional features for an added layer of protection.
If you look at the UAE market, there are two types of insurance policies available - comprehensive and third-party liability insurance.
If you want coverage for yourself and the third party in case of an accident, you can consider buying a comprehensive policy. On the other hand, you can choose the third-party liability policy if you want coverage for the third party only.
You can also check if there are add-ons available with the policy you’re planning to buy such as road-assistance add-on, agency-repair add-on, off-road cover, etc. These add-ons will provide extra coverage to the insured vehicle.
2️⃣Choose the Policy Type
There are two types of car insurance policies available in the market. Your coverage will entirely depend on the policy you select.
➔Third-party liability insurance
Third-party liability insurance covers you against financial liabilities that occur due to the loss/damage caused by you to a third party or their property.
Third-party liability insurance is mandatory under the law and hence, owning it will save you from any legal repercussions.
Also, you need to keep in mind that as per the UAE Road Transport Authority(RTA) law, having at least a third-party liability policy is mandatory.
The comprehensive policy aims to provide you with complete coverage.
This type of insurance policy covers third-party liability as well as the damages caused to you and your vehicle.
To widen your coverage, you can also include add-ons to your policy.
3️⃣ Pick the Right Coverage
While purchasing a policy, always look for benefits and features that enhance your vehicle coverage.
Every insurer will have a range of values which will vary for every car as per its specifications entered.
You need to select the appropriate insured value, i.e., the amount that you want your car to be covered for
To select the right cover amount, check your car’s secondhand value and then decide on an amount close to it.
4️⃣Choose Add-Ons To Enhance Your Coverage
You can enhance the coverage of your base car insurance policy with the help of add-ons like road assistance cover, agency repairs, passenger cover, etc.
Some insurance companies offer these add-ons as inbuilt features, while others offer them at an additional premium.
5️⃣Know the Premium of the Policy
A premium is an amount that you need to pay to your insurer to keep your policy active. The premium is directly proportional to the coverage you choose. So, the higher the cover amount, the higher the premium. The lower the cover amount, the lower premium.
You should strike a balance between coverage and premium - it should suffice your insurance needs and fit your budget.
6️⃣Understand the Terms and Conditions of the Policy
Every policy has its ifs and buts. So, it is crucial to read all the policy documents properly to understand what it has in stock for you.
Learn about the coverage scope and the exclusions in the policy.
Exclusions are situations that the car insurance company won’t cover.
So, understanding these aspects will give you an idea of things to expect from the policy.
7️⃣Final Step - Purchasing the Plan
Once you have finalised the policy and done the required customizations, you can now move ahead and buy a car insurance policy for yourself.
However, double-check all your details to avoid any unnecessary mistakes.
How To Buy Car Insurance Online
The process of purchasing car insurance is simple and easy.
However, it might differ from insurer to insurer. Here are some general steps that you need to follow to buy a car insurance plan online -
1.Visit your desired insurance company or any insurance broker's website.
2.Select the ‘Car Insurance’ option.
3.Enter your vehicle details like make and model, model year, car variant, etc.
4.Next, you need to answer whether your vehicle is Gulf Cooperation Council (GCC) specified or not. Choose the correct option and move ahead.
5.Next, you will have to fill in your details such as your name, email ID, date of birth, mobile number, and nationality.
6.Once these details are filled in, you will be asked to select the city in which your car is registered and the driving experience that you have. Answer them correctly.
7.You will then be asked if you have made any claims in the past years or not.
8.If you have not made any claim then click on “Never” and proceed. And, if there were any claims made, select the appropriate option.
9.Once you have filled in all the details, you will be taken to the quote page.
10. Here, you will be shown a predefined car value that you can increase or decrease as per your car’s market value.
11. If you have visited any broker's website then you will be able to see different quotes from different insurers.
12. Check the plan details and the premium and then select a policy that suits your needs.
Documents required to purchase or renew car insurance
If you are a resident of UAE and want to purchase or renew your car insurance, you need to have a few documents -
2.Passport and Residential Visa
3.Vehicle Registration Certificate
Purchasing the right insurance policy paves the way toward security while you are on road. To choose the right plan, evaluate your requirements and your budget - and then, choose the plan that suits you. Make sure to keep the above-discussed factors in mind when buying a car insurance policy for yourself.