Hence, being insured is not spending without any benefits, but is a prudent way to save money in the event of an untoward incident and ensure you are safeguarded from all possible risks.
insurance in the UAE is offered by reputed international insurers under several categories such as motor, home, travel, personal accident, golf, yacht, medical etc.
Understanding insurance concepts and how to purchase a policy can be a little daunting initially. However, readily available information about UAE insurance on the web can change this quickly to hassle-free convenience.
Here are 5 facts about buying personal insurance:
• Finding a good insurance company should be top priority. You can start by asking friends and family for recommendations, or look for an insurer in the newspapers and telephone directories or on the Internet. An insurer should be evaluated on the basis of its reputation, commendable customer service, reputation for honouring claims and a coverage that is strong and reasonably priced.
• Insurance companies vary in terms of prices, policy terms, under writing experience and coverage. You should start by comparing the services and benefits for the money spent. You should also read and understand the policy document thoroughly and seek clarifications to avoid any surprises.
• Comparing prices and services will help you make an informed decision. Low priced policies may not offer the protection you may need and it is not in your best interest to base your purchase decision depending on price alone.
• It is good to value your possessions to ascertain their actual worth. This specially holds true when you are looking to insure your home, car or golfing equipment; for example.
• Ask for discounts when you buy your policy. You may well fit into the criteria insurers employ to reward customers with less affinity to risks. For example, an experienced driver with no claims in the past five years, driving a high value car may get a better premium rate compared to a driver below 25 years, who has no driving experience, driving a recently purchased mid-sized saloon. It’s simple really, inexperienced and novice drivers are more likely to be in riskier situations,such as accidents, compared to a seasoned driver.
It is highly recommended you remember these 5 things about buying insurance from a reliable UAE insurance company.