Points to Remember Before Switching Car Insurance
Let’s start with a small example. Ankita works as a software engineer in a company and uses a laptop for her job. But unfortunately, her computer system crashes frequently, which prevents her from carrying out her daily work smoothly. So, she plans to switch and purchase a high-configuration laptop. To streamline her search, she needs to keep a few things in mind such as choosing a good operating system, picking the right RAM, checking the battery life, etc. This will help her make the best possible choice.
On a similar note, you may wish to switch your car insurance policy because of many reasons - you may have found a new policy that offers better coverage, you want to change your coverage type, etc.
In this article, we’ll talk about what you should consider when switching car insurance.
Points to Remember Before Switching Your Car Insurance
There are some important things that you should be aware of before switching your car insurance policy -
1️⃣Go for the right cover amount
To get the desired coverage in times of emergencies, you should choose a cover amount that is apt for you and adequate to fulfil your needs and requirements. So, before you switch your car insurance policy, check if the cover amount that the insurance company is providing you matches your needs properly. This is crucial for you because in case your car faces total loss or theft, your insurer will pay you this amount to compensate for the losses. And, you certainly do not want to fall short.
2️⃣Browse the customisation options
A car insurance policy comes with various customization options to make it suit your needs. For instance, you can enhance the coverage of your plan by purchasing a comprehensive policy. You can also include add-ons that will give you financial protection in specific contingencies. For example, you can add roadside assistance, off-road coverage, rent-a-car facility, etc. Some insurers may also offer these add-ons as inbuilt plan features.
Note: Before purchasing a new policy, check the list of add-ons that are inbuilt. Choose a policy that provides the maximum number of add-ons as inbuilt features so you do not pay an extra premium for adding them.
3️⃣Have a look at the premium
A premium is an amount that you pay to your insurance company to avail of the benefits of your policy and keep it active. Your premium amount will depend on various factors like the make and model of your car, date of registration, driving history, nationality, etc. The premium amount may vary from company to company for the same car with the same level of coverage. Make sure you choose a policy that is budget-friendly and provides you with the maximum coverage.
4️⃣Peruse the T&Cs carefully
Understanding the terms of a policy is very important before you make the purchase. Once you read through them, you will be aware of what it covers, what it doesn’t, and the conditions associated with coverage. For instance, various insurers provide an off-road cover as an inbuilt add-on but there might be some limitations on the coverage that you get. If the damages to your car have occurred because of any race or dune bashing, these may not be covered.
5️⃣Conduct some background research about the insurer’s services
An insurance company will obviously have superb pre-sales service because its main job is to sell insurance policies.
But, the after-sales service is equally - if not more - important.
You will need their support if you have questions or need to make a claim.
Here’s what you can do -
● Go through their community forum, ratings, customer feedback, etc. to gauge their quality of service.
● Make sure that they have a strong claims support team that can provide you with seamless services if you make a claim.
● Ensure that they have a proper customer support team in place, as they will be the very first persons you contact if you have any queries or doubts.
6️⃣Go through the insurer’s reviews
Lastly, you should have a look at the reviews your insurer has gotten from previous and current policyholders. You can also have a chat with these customers to learn about the insurer in much more detail. Good reviews mean that the insurer is trustworthy, has an efficient claims process, and has a reliable track record. This will ensure that you have to face minimal hassles during your insurance journey.
Having car insurance is a mandatory requirement in the UAE. With multiple car insurance plans available in the market, just sticking to one option may not be the best idea. You can consider switching it anytime as per your changing needs and requirements. We hope the above-discussed points help you make the right choice.