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. Increase Your Excess
One option to reduce car insurance premiums is by increasing your insurance excess or the amount you're prepared to contribute towards any future claims. By having confidence in your driving abilities choosing a higher excess can potentially result in a more competitive premium rate. However, it should be noted that you may have to bear larger expenses for minor repairs.
6. 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.