5 Tips for Saving Money on Car Insurance

Last updated on : 01 May 2024
3 min read

There are several strategies you can deploy to reduce the amount you pay for car insurance. At Shory.com, we aim to help you achieve this goal with six effective tips that will lead to lower car insurance premiums in the UAE. Prepare yourself for a more affordable future as we reveal the secrets to cutting those motor insurance costs. Starting with:

1. Comparing Quotes

One of the most effective ways to save money is by obtaining quotes from different car insurance providers and carefully comparing their policies. Instead of choosing potentially costly options offered by car dealerships or banks. We recommend visiting Shory.com’s quotes page to find the best car insurance options that fit your needs and budget.

2. Maximize Your No Claims Discount

Your driving history significantly impacts your car insurance premium. If you have been a careful driver and can obtain a no claims certificate from your current insurance provider. You may enjoy a better rate when renewing your car insurance. By providing a no claims discount (NCD) certificate at renewal time you could save between 5% and 20%. 

3. Evaluate Add-ons Thoughtfully

Each add-on included in your policy typically increases your premium. Before enhancing your coverage, carefully consider the value and necessity of each add on. For example, if you solely drive in the UAE and do not participate in off road activities dropping GCC and off road coverage could be a cost saving option.

4. Determine the Cars' Value Accurately

Many people mistakenly overestimate their cars' value resulting in higher premiums. To avoid this issue, it is important to obtain an accurate estimate of your vehicles' worth. Take into account an average annual depreciation of around 15 to 20% based on the specific model. For cost effective coverage without sacrificing quality protection on your car insurance policy, it may be worthwhile considering opting for a low but realistic value.

5. Buy Your Car Insurance Online

When purchasing car insurance online instead of offline channels you may discover potential discounts. Shory.com has established partnerships with multiple insurance providers who prioritize delivering products and services of excellence. Our quotes page offers a range of affordable plans that provide adequate coverage for your consideration.

Lastly, it must be noted that the exact declared value of your vehicle may not be heavily influential on your premium rate. It is important to understand various factors do play a significant role. Such factors include age, driving experience, car type and make and model. You must also check to see if there is any no claim discount available or not. By considering these factors alongside implementing the aforementioned tips, you will likely experience tangible reductions in your overall car insurance costs.

Disclaimer: Shory aims to present accurate and up to date information, however we take no responsibility or liability for any errors or omissions in the content.