The UAE stands at the forefront of the digital revolution, transforming numerous industries, including insurance, into more accessible entities. Purchasing and renewing car insurance now offer a streamlined process, largely benefiting from the digital-first approach adopted by insurers.
Today’s process for buying or renewing car insurance is markedly faster, simpler, and more straightforward than it was a decade ago. The tedious form-filling and document submission have given way to streamlined journeys and immediate policy issuance. For instance, securing car insurance on eSanad takes the time it needs to cook instant noodles!
Despite this convenience, several pitfalls could hinder your insurance buying experience. Recognizing and avoiding these mistakes is crucial for securing affordable and comprehensive car insurance.
Common Mistakes to Avoid While Buying or Renewing Car Insurance
1- Avoiding Basic Research
Approaching an insurance purchase akin to any online shopping endeavor demands basic research. Verify the credibility of an insurer through platforms like CBUAE and explore their social media presence for authenticity and customer reviews. Rushing into insurance decisions can be costly, so refrain from panic buying and prioritize thorough research.
2- Not Comparing Policies
Failure to compare policy quotes and inclusions might lead to inadequate coverage. While cost-effectiveness is essential, ensure that a low-priced policy offers sufficient coverage. Some digital-first insurers provide cost-effective packages with extensive coverage and superior customer support.
3- Opting for Minimalistic Coverage
While meeting legal obligations with a Third-party Liability Policy (TLP) seems economical, it lacks comprehensive coverage. Consider a Comprehensive Plan that not only fulfills legal requirements but also offers protection for your vehicle in case of damages. Understand the essence of insurance—financial support during unfortunate events.
4- Resisting the Online World
Transitioning to online policies offers affordability and convenience. Overcoming reluctance towards digital platforms can be eased with customer support assistance or seeking guidance from someone familiar with online processes. Embrace the simplicity of purchasing insurance online.
5- Not Sharing Accurate Information
Honesty and transparency while providing personal information and during claim-related inquiries are essential for mutual trust between you and the insurer. Misleading information could lead to repercussions, including legal consequences and claim rejection.
6- Skipping Policy Verification
After acquiring a policy, verify the details mentioned in the document promptly. Any inaccuracies could result in claim rejections later on. Review critical details like name, address, vehicle number, coverage, and expiry date, rectifying any errors immediately.
7- Buying a Policy Without Understanding Terms & Conditions
Understanding the policy’s terms and conditions is crucial. The Policy Wordings provide insights into the insurer’s liabilities during claims. Seeking clarification on any ambiguous points from the insurer’s support team is recommended to make informed decisions.
Last modified: December 21, 2023
