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10 Factors that affect your Car Insurance rates

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Auto Insurance Tips

Car Insurance providers don’t provide you with the insurance rate of your vehicle. The auto insurance rate are calculated carefully considering many hypothetical factors namely your personal and other non-personal information like Age, Gender, Geographical Location, Marital Status, Driving Record, your Driving Experience, Claims History, the coverage of your previous insurances, credit history, the miles driven annually, vehicle use, deductibles, coverage, vehicle type, etc.

Each insurance company considers their preferred formula for rate variable calculations, and this is the main reasons for the variation in the insurance rate, they can even vary by hundred to thousand dollars.

According to J.D Power, the Consumer Research firm, most of the vehicle owners and drivers do not go for the right insurance policy they need, only 40 percent of them are switching to different policies in a year and those individuals are saving plenty of amount on the premium insurance plans annually.

The research has found that the car drivers are spending more money on their car insurance in the last few years, this can only be reduced if you are keen on selecting the right car insurance with mandatory factors.

Synopsis

● Ten things you need to be aware of while selecting your Car Insurance policy
● Your Address
● Different Car insurances and what type of coverage you need?
● The Credit Score
● Your Age
● Your Marital Status
● Your Vehicle Type
● How you have used your Vehicle
● Licensed Drivers
● Your Driving Record
● History of your Claims and the Prior History of your Insurance

Ten factors you need to be aware of while selecting your Car Insurance policy

Proceed below for the factors you need to be watching out while getting your vehicle insurance.

Your Address

The first important thing to note when getting an auto insurance plan is the address where you park your car, yeah the location has the significant impact on the premium car insurances.

Auto Insurance agents will prefer knowing about your neighborhood more than you know them, they will know about the number of persons living nearby your location, the crime rates happening around your place, the number of claims severity happening annually, the weather pattern in order to know the risk of natural calamities etc before providing you the car insurance rate.

Car Insurance rate can be found accurately with plenty of tools online, and they just ask your state Zip code for showing the results.

Different Car insurances and types of coverage you need

Most of the insurance agents and other experts will encourage getting the insurance coverage’s online as there are high chances for getting the insurance with low premium rates, the quotes of these premium differ even in hundreds and thousands due to the calculation factors of the insurance companies.

You can check out the insurers online and decide which would be the right car insurance for you in a couple of minutes, this not only makes your shopping easy but also saves a lot of money and time.

It’s okay if you change the premium car insurance once a year to experience the lower premium rates, shopping is most important in the case of an accident or ticket present in your record, and this can make you appealing to a different number of insurers agents.

Moving to a new location, getting married or having a driver will make your car insurance rate low, know your ideal limits of the car insurance policy you have chosen before gathering the quotes of different insurance companies.

The Minimum Liability Insurance rate will get varied based on the states you live, but will not have enough benefits to protect you completely. You should be aware in picking the car insurance with desirable benefits in a liability coverage of an insurance policy to safeguard you and your property when facing an accident or other issues like theft.

Related: Know more about Liability Auto Insurance Cover

Make sure you at least have 100/300/50 in your liability premium coverage insurance, to know more about these details have a look over this blog.

You should also have the comprehensive and collision insurance registered if you need your car repaired if it’s damaged or hit by third party vehicle, when damaged due to fire, theft, due to the natural calamities and other similar situations. You need the comprehensive car insurance for maintaining the value of your vehicle, and they can provide the amount neglecting the deductible if your car is under theft.

Going for higher deductible means you are saving more money, the deductible is possible with both collision and comprehensive auto insurances.

The Credit Score

Most of the insurer agents prefer to check out your credit score to calculate the car insurance rates, if you have a lower credit score then you will need to pay high whereas higher credit score means fewer premium rates.

Your Age

The age also has a more significant impact on the car insurance rates especially if you are in your twilight years or young. According to the IIHS ( Insurance Institute for Highway Safety), the fatal crash rate for young people is three times high when compared to the drivers above the age of 20 years.

The other side indicates that older drivers have faced with more accidents rather than the young age peoples, the fatal rate of this crashing during the crash increased day by day.

Your Marital Status

Statistic says that unmarried drivers have more accidents when compared to the married ones, in some insurance agencies married owners will be provided with fewer premium rates. You can get combines policies with your spouse to decrease the premium more.

Your Vehicle Type

What type of car you drive is also considered in calculating the auto insurance rates, the model of the vehicle will be noted for checking the claims record made by the vehicle. For, e.g., if any young aged drivers have faced more accidents with the same car type, then your premium rates will be high.

Make sure you have the VIN (Vehicle Identification Number) with you when applying for the new plans.

How you have used your Vehicle

The vehicle you use will also have a significant impact on the premium rate calculation, and if you are using your vehicle for part time jobs like a delivery agent, then you need to disclose this to the insurer agent for making your premium lower.

Not disclosing the reason will result in denying of claim when faced with an accident or other issues.

Licensed Drivers

Make sure you list out every member who has a driving license in your family to the insurance agent when applying for the car insurance plans, omitting someone will lead to denied claims or cancellation of the insurance plan during an accident or other issues.

If you have taken a license for someone in your family after getting the coverage plan then make sure you add the teen name immediately to the list.

Your Driving Record

The critical factor for calculating the car insurance rate is knowing your driving record, and this will help the agent to understand about the risk of the driver quickly. They will check this record when you apply for the coverage or when renewing them.

If they found more violations in your driving record, then the premium car insurance rates will be desirably high. If you think you can provide the wrong information and if the company finds them then there are chances for your premium to increase to a high number.

History of your Claims and the Prior History of your Insurance

Not only tickets or accidents will increase your premium car insurance rates but also the claims can do it, yeah fault claims will result in high premium rates and this will get increased if they found the same error again.

For more information read our blog on Complete Guide on Car Insurance in UAE

Hope you check for the above factors before you apply for the car insurance and know the rates as per your requirements. Any other factors you know that has an impact on the premium car insurance rates? Let us know through the comment section below.

What does comprehensive Auto Insurance do

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Comprehensive Car Insurance

Comprehensive Auto Insurance, otherwise derived as the complete comprehensive cover is considered to be the top level insurance that offers maximum protection for your vehicle.

Comprehensive car insurance covers the damages made caused due to various aspects like vandalism, animal damage, theft, natural calamities, fire, falling objects, etc. except a car accident, and this varies based on the car you drive.

Related: Buy Car Insurance from Compare4Benefit and Save up to 1200 AED on Car Insurance.

The drivers of Financed or leased cars need to get this comprehensive car insurance to protect the car owner investment.

What are the things that Comprehensive Auto Insurance Covers?

Below are some of the factors that the insurance cover for your damages.

● Falling Objects

● Theft

● Hitting an Animal

● Fire

● Vandalism

● Natural Disasters namely Tornado, Hurricane, etc

● Glass Damage

● A Civil Disturbance namely Riot.

What does the comprehensive Insurance Policy does not cover?

Below are some of the factors that the comprehensive car insurance does not cover for your damages.

● Stolen property from your vehicle.

● Your car damage occurred due to a collision.

● Any third party car damage due to a crash.

● Medical Expenses of your passengers, legal fees, lost income.

What are the factors to consider while applying for the Comprehensive Car Insurance?

The comprehensive car insurance helps in paying for the accidents if you do not cause it or if it’s not proven that you have created the disaster. The covers also provide you peace of mind and complete protection when there is a considerable cost occurred for the repairs.

If you do not have this comprehensive cover, then you are the responsibility for all the damages financially.

Cost of Comprehensive Auto Insurance

The deductible amount and the cost of this comprehensive auto insurance range from $300 to $1000. A higher deductible indicated lower premium level, increasing your deductible can decrease your insurance premium by 20 to 40 percent.

Another factor that affects the rate of comprehensive car insurance includes the type of car your driving, and if your vehicle is in the history of higher repair costs or claims, then there are high chances for your premium to be increased. In the case of your car with all mandatory safety features like Anti0theft protection, then your vehicle will be eligible for discounts.

Comprehensive Auto Insurance – Working Mechanism

Let me explain the working process with an example.

Imagine your car was damaged in a fire accident and caused you about $5000 damage, the first step you do is claim the insurance policy.

You can file this online on any devices quickly, but some insurance agencies neglect online claiming so you need to ensure whether you can do it online or else go to the store and process the claiming.

In this case, let us imagine that you are having a deductible amount of $1000, then the remaining $5000 will be paid by your Insurance agents if you have a comprehensive auto insurance policy activated for your vehicle.

Few Comprehensive Auto Insurance Facts

● Your lender will ask you to go for comprehensive car insurance in the case of financing or leasing your car.

● The standard deductible from Comprehensive auto insurance is $5000.

● 75% of drivers prefer Comprehensive Auto Insurance.

● On an average rate, the cost of your comprehensive car insurance is about $22 per month.

Comprehensive Auto Insurance Vs Collision Car Insurance

So many car owners get confused with both Collision, and Comprehensive car insurances, both of them covers your car insurance, but the events differ entirely.

While considering Collision Insurance, they cover any accidents occurred whereas Comprehensive insurance covers factors that goes out of your control like anti-theft, natural calamities, etc.

For, e.g., hitting animals are done out of your control, and therefore this falls under comprehensive auto insurance category.

Is there any limit for the Comprehensive Insurance?

Depending on the Coverage Limits, the auto insurance agent pay the amount for the damages. So undoubtedly there is a limit for the Comprehensive Auto Insurance, this mostly depends on your car value, model number and other relevant factors regarding your vehicle.

In the case of your car is being stolen then your Auto Insurance agency will check for your car information like your car model, car value, history of your car likings, your driver records and other relevant things and then suggest a depreciated value for the damage.

If you are in the idea of replacing your car in the case of theft then you need to put extra money from your pockets, you can’t intimate your Auto Insurance agency to pay the full payment.

How likely can you claim Comprehensive Auto Insurance?

Not choosing comprehensive insurance means you are going to spend much money from your side for every damage caused by you without your control.

According to research, 10 % of progressive drivers have got benefited as they have claimed for this comprehensive car insurances but people with no comprehensive claims resulted in putting a high amount of money that they cannot imagine itself to put from their side. The average repair cost is about $1800.

What is the most common Comprehensive Claim yet now?

Most of the claims were due to the glass and the accidents caused by hitting animals like deer. Remember one thing that skipping comprehensive auto insurance policy means you are going to hook up a significant amount of money from your pocket for all the damages caused.

Why should you add endorsements to your Comprehensive Auto Insurance Policy?

Accident Forgiveness, Roadside Assistance, Rental Reimbursement, Towing, and Labor are some of the extra add-on endorsements you can try out along with comprehensive car insurance policy for lower premiums and lower spending of your pocket money.

You can avoid car accidents if you look after your driving habits, but what if the third party person causes an accident? These are something you will not be able to avoid, so sticking with excellent comprehensive auto insurance would be the wise choice to escape from these sort of mishaps.

Another critical thing to consider when getting comprehensive insurance is to choose them from the right Auto Insurance Agency, browse online for the excellent auto insurance agencies, compare four to five best companies and then go with the one that matches your budget and requirements.

Related: Compare Car Insurance in Dubai and UAE

Hope you follow all the above factors before getting a comprehensive Auto Insurance Policy. Any other essential prospects we missed? Let you know through the comment section below so that we can add those in the list of comprehensive auto insurance benefits.

What happens if your Car Insurance Lapses

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car insurance lapse

Keeping your car insurance updated is essential to avoid exposure of unwanted problems like penalties, fine and higher premium rates during renewal, so you need to make sure you revive your car insurance plans before few days for the coverage.

In the case, you forget to renew, and your Auto Insurance got expired then you should focus on things like what should be done immediately before facing in-depth issues.

Related: Buy Car Insurance from Compare4Benefit and Save up to 1200 AED on Car Insurance.

This blog will let you know about the Auto Insurance Lapsing factors you need to follow in a detailed and straightforward way.

Car Insurance Lapse – Getting Started

So what do you mean by an Auto Insurance Lapse? It says your vehicle does not fit to your State Coverage Limits, and the car insurance industry recognizes your lapse period until fewer characteristics namely

● When the car registration lapses

● When you capitulate your vehicle plates

● When you buy a new auto insurance coverage

● When you have reinstated your car insurance coverage.

● Providing any paperwork or proof that your vehicle is repossessed.

● Shifted to a new state or country and have purchased for the coverage limits in particular place.

What is some significant reason for the Auto Insurance Lapse Coverage?

Car owners get their auto insurance lapsed in the following conditions.

● When they forgot to renew their car insurance

● In the case of car owners skipped paying their premium car insurance plans.

● In the Instance of the drivers making late payments.

● In the case of any consequential accidents and disasters.

● In the Instance of too many records on drivers regarding traffic rules violation.

If your Auto Insurance companies failed to hold on your insurance plan then its mandatory you purchase a new insurance policy before the old get lapses. If you have decided to switch for an another Insurance Policy agent, then you need to be more careful regarding the providers and make the arrangements in a way that you are not going to face this auto insurance lapse in the future.

The result of an Auto Insurance Lapse

As discussed before a vehicle insurance lapse lead you to life-threatening problems, this would be okay until your Insurance companies did not find that your car does not have any access for the state minimum requirements. In the case of your insurance providers getting your insurance Lapse then you will be subjected to severe penalties, and this gets varied based on the states or country.

Some of the common penalty factors if your Auto Insurance Lapse includes

● Suspension of your vehicle registration, in this case, you will not be able to drive the vehicle anywhere in the world.

● The license of the Driver will be suspended in some cases; you have to face thousands of hurdles before getting a new driver license for you.

● Suspension of SR-22- which is considered to be the proof that your car has all the access to be driven and has all the needed requirements as per the state law.

● You need to pay a high reinstatement fee along with fines for getting a new Auto Insurance policy.

There are many possibilities for the drivers to stop driving if you are operating with the old insurance and this also results in

● Increased premiums

● Suspension of Driver License

● Community Service

● Fines

If you cause an accident and uninsured when driving, then you will be the one who is responsible for all injuries and damages, this will be a critical factor to your financial budget and also more devastating.

Few Presumption of getting future Insurance

Purchasing a new insurance policy has many conditions if you have left a gap in renewing,

● There is a chance for your auto insurance agents to increase the rate.

● Auto Insurance providers can mark you as the High-risk Driver and neglect the premium insurance coverage; this may be a significant disadvantage for the ones who are driver by profession.

● If you are labeled as a high-risk driver then automatically you need to pay higher premium insurance rates which can be a most challenging task.

How to Handle your lapsed Policy?

If you come to know about the lapsing of your Auto Insurance policy, the first thing you need to perform is to contact your insurance agent for the simple steps to process without getting any penalties or life-threatening problems.

If your car insurance expiry period is short, then the insurance providers can help you in renewing your policy without high penalties, in the case of longer lapsing, you might feel difficulties in policy reinstate.

If you have applied for the renewal, wait until you get the insurance policy back to you. Do not drive in that period so that you can be saved from huge fines or penalties. In case your insurance provider provides you with an online payment system then there are multiple ways to get your new insurance card within a shorter period.

What to do if your policy is Cancelled?

If your insurance providers canceled your Auro Insurance policy due to reasons like excessive tickets, traffic offenses or for not paying your premiums then automatically reinstated coverage will be canceled.

In this case, you need to purchase a new insurance policy from another insurance agent. Make sure you are choosing the right Insurance agencies when renewing as few companies have a chance for taking this reason as their favorable positions and provide higher premium coverage. You can check out the quotes from many Auto Insurance companies online, check it and then go for the preferred one.

Tips on Purchasing a New Insurance Policy

Auto Insurance Providers calculate the rate as per your risk and responsibility factors, not having insurance means you are not an accountable driver and this will result in higher premium rates.

Go for the Insurance plan that provides a low insurance rate even for the drivers who are labeled as high-risk ones. There are many similar plans out there; the important thing is to find them and then get it as per your requirements.

How to Avoid Future Lapses

Once you have faced an auto insurance lapse, you should be more careful that you are not making the same mistake again. Proceed below for few tips to avoid a future insurance lapse.

● Checking out your information on the Driving License and Registration Paper is correct.

● Submitting the vehicle plates that you do not own it.

● And, timely response to the Insurance Agents.

Related: A Complete Guide on Car Insurance in UAE

Hope you all follow the above tips if your auto insurance plans got lapsed. Any other relevant factors to avoid Car Insurance Lapses? Let us know through the comment section below.

How to save money on Car Insurance

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save on car insurance

Owning car insurance means you and your vehicle is being safe in any cases like when you or your car has been damaged due to an accident, if your personal belongings are stolen or if your vehicle has been fired.

Choosing the right insurance and extra add-ons based on your requirements is essential to avail the benefits, it also helps you in saving money and time.

Related: Buy Car Insurance from Compare4Benefit and save up to 1200 AED on Car Insurance.

Top 13 Tips to Save Money on your Car Insurance

Follow these below practical steps to avoid spending much money on your auto policy.

1. Checking out Multiple Insurance Company Quotes
2. Choosing the right car
3. Deductibility Level
4. Having a single Insurance Policy with Multiple Benefits
5. Maintaining credits in Insurance Policies
6. Discounts Claim
7. Paying by Mile
8. Lowering the coverage
9. A focus on group Insurance
10. Check for other Discounts
11. Compare premium costs annually
12. Pay the Premium Insurance Semi-Annually
13. Driving Safe

Checking out Multiple Insurance Company Quotes

If you have decided to get the insurance of your car do not just stick with one insurance company, get the quotes from different insurance companies so that you will be able to decide which might be suitable for your needs within your budget.

The important thing you need to consider when choosing the insurance is to compare all the premiums from different companies to select the right one, and the companies quotes may vary from smaller to a higher amount as per the benefits. You can use Compare4Benefit to compare car insurance in UAE

Choosing the right car

The insurance premiums also depend on the car you drive, you need to check for the cost of the car insurance before you get them using tools like Car Insurance Estimator Calculator, you will also be able to get these pieces of information from an insurance agent or carrier.

Deductibility Level

You can lower your premium cost if you are going for the car insurance with higher deductible levels, but make sure you have enough money to pay the deductibles before choosing them.

A study has found that you will be able to save about 9% of the premium in the case of your insurance deductibles ranging from $500 to $1000.

Having a single Insurance Policy with Multiple Benefits

Most of the companies provide an extra discount if you get two different insurance policy from them, but having one best policy with all benefits included is better for the easier maintenance as well as for simplifying your finances. If you have two plans, you can combine them now to a single insurance policy by contacting the insurance agent soon.

Maintaining credits in Insurance Policies.

One of the main benefits of maintaining a solid credit history is the reduced insurance costs, most of the insurance agent prefer these credit information for calculating your vehicle insurance policies. Recent research has derived that people who managed useful credits history have made claims.

To ensure whether you are getting the proper credit, you need to check out your credit card regularly so that you can be accurate of the credit results.

If you have a poor credit score, then your insurance policy premium would also be high, so it’s essential you give importance in handling the claim history as well as finances in a legitimate way.

Discounts Claim

Car Insurance companies offer plenty of discount for their customers especially for multi-car, paperless, safe driving, good student, quick ride, combing car, accident-free and much more, you can ask about the discounts to your insurance agent before grabbing them.

Some insurance companies offer a discount to the owners who drive less than the miles they calculate, so you need to check for the discounts with them before claiming them.

Paying by Mile

You need to pay your insurance amount as per the mile you have driven, this will helps in saving your money, you need to check out whether this is available in your state before choosing the plan. There are many studies shown for the reduced cost of a premium insurance policy for the people who drove the car as per the distance.

Lowering the coverage

Just as increasing your deductibles you can also low the coverage for saving your money for the insurance policies, know what additional adds on and other things you need as per your budget and requirements to lower the coverage.

A focus on group Insurance

Some auto insurance companies offer a discount to the people who have insured for a group from their professional, employees, alumni group, business or an association, and you can check out with your affiliated companies to check what they are providing.

Check for other Discounts.

Insurance agents provide different discounts for various policyholders, some of them offer a reduction to the one who has followed the regulations or for the persons who are not a victim of any accidents etc.

Related: Save up to 1200 AED on Car Insurance

You can ask your insurance agent for the discount for your insurance policy and then lower the premium cost.

Compare premium costs annually.

It’s okay if you compare the premium plan cost each year and check out the differences achieved so that you can find the common mistake to reduce the premium cost for your insurance policy.

There is no money charged for comparing the rates, and these can be checked online in just a few minutes.

Pay the Premium Insurance Semi-Annually

It’s good to pay your premium insurance policy bill once in six months rather than pay it by monthly instalments, by doing so you will be able to reduce the car insurance money.

Driving Safe

If there are no accidents or any other traffic ticket son you and your vehicle, then you will be able to cut down the extra cost you pay for the premium insurance policies. Driving habits also play an essential role, and you need to monitor them accurately so that there would be no chance for accidents or any other issues.

Many tools help in monitoring your driving habits namely the daytime versus, hard stops, nighttime driving speed, idle time and much more, based on this you can expect the lowering of your car insurance.

Refer: Complete guide on Car Insurance in UAE

What does Liability Car Insurance Cover

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liability car insurance

Liability Auto Insurance cover is one type of car insurance that is mandatory for any vehicle owner in most of the states, and this offers the required expenses for the opposite person in case of an accident or in such related issues that are caused by you.

Synopsis

● Types of Liability Auto Insurance.

● What does Liability Car Insurance Covers and Do not Cover.

● How Liability Car Insurance Policies are Structured.

● How to calculate the premiums of the Liability Auto Insurance.

● How much Liability Car Insurance should you have.

● Liability Car Insurance FAQ.

Related: Buy Car Insurance from Compare4Benefit and Save up to 1200 AED on Car Insurance.

Types of Liability Auto Insurance

Liability Car Insurance is of two types namely property damage liability coverage and bodily injury liability coverage.

Property Damage Liability Coverage: Helps to pay for the repairs caused to the opposite party’s car or any property damaged by you.

Bodily Injury Liability Coverage: Helps in providing the medical expenses for the opposite party injuries if you cause the accident. There are two types of bodily injury liability car insurance namely bodily injury per accident and bodily injury per person.

The first one means the payment done for all injuries in an accident caused by you and the second part indicates the amount paid for the single person in a crash that is caused by yourself.

What does Liability Car Insurance Covers and Do not Cover?

Bodily Injury Liability Car Insurance covers the cost for the following indications.

● Nursing care cost until their complete health improvement.

● Emergency aid at the spot.

● Every Medical bill caused due to the accident including the rehabilitation efforts.

● Compensating the reduced salary income.

● Expenses needed for funeral.

● Money for Diseases or Sickness caused due to the accidents.

Similarly, the Property Damage Liability Car Insurance covers the assets like Home, Telephone Poles, Lamp Posts, Fences, Cars or any other vehicles, etc.

The Liability Car Insurance from different insurance companies varies so that its mandatory that you discuss with the insurance agent regarding the insurance cover details before grabbing them your own.

You can check the online tools available to check whether the Liability Car Insurance Policy you have chosen is available with all the requirements that are indicated in the documents and papers.

Most of the states encourage personal injury protection coverage as the insurance agency offers the expenses for the loses caused due to the accident at any cause.

How are Liability Car Insurance Policies Structured?

The number you find in the Liability Auto Insurance Policy will provide a stranger look at; first, some example of them are 40/30/50, 5/10/39, etc. which means they can be decoded easily.

Among the above number, the first digit indicates the coverage amount the insurer pays for a single personal injury, the second digit indicates the amount the insurance agent needs to pay for every person involved in an accident whereas the third digit indicates the amount the insurer pays for the properties damage caused in a crash.

If your policy does not include any split figures then it means you have a limited, so you need to discuss with your insurance agent regarding the policies, some of them indulges both property damage cover as well as bodily injury coverable in a single plan.

So if you are the reason for an accident you need not worry about the expenses caused for you as well as for the third party if you have these Liability Car Insurance policy registered.

How to calculate the premiums of the Liability Auto Insurance

There are many factors present for the calculating the premiums of the liability insurance coverage policies including

● Your Marital Status

● Your Gender

● Your Driving Records

● Your Credit History

● How much coverage you require to buy

When calculating the premium auto insurance liability coverage consider the credit history, the calculation depends on them and some states do not allow this type of calculation.

You will be able to compare different quotes for this liability car insurance coverage of various companies online so that you can select the right liability car insurance policy for you based on your requirements.

How much Liability Car Insurance should you have

Most of the financial experts and agents will encourage you to stick with the maximum car insurance liability coverage as they have most of the benefits filled to safeguard you and your vehicle.

The experts and agents advise their customers to go with the liability car insurance policy that includes the following advantages.

● The bodily cover insurance policy should cover at least $100,000 per individual.

● The property damage coverage above $50,000.

● The Bodily Injury Coverage should cover $300,000 per accident or injuries.

If you need to stick with the Single Limit Policy, then you need to choose the liability car insurance that offers at least $300,000 and other benefits as said above.

Always prefer to choose the car insurance that covers the most affordable options in the policy.

Liability Car Insurance FAQ

Here are some of the Auto Insurance FAQ answered below.

1. Will the liability insurance cover my car content if someone breaks to help the injured persons?

No! You need to register for the renters or homeowners insurance for protecting your car contents.

2. Will Liability Auto Insurance covers Broken Window?

Yeah if you are the reason for the accident, it does not cover for the windows that are replaced or repaired.

3. What is the difference between Comprehensive car insurance and Liability Auto Insurance?

Comprehensive auto insurance covers the property damage as well as the theft caused whereas the Liability insurance coverage only covers for the injuries that are created to a third party or their vehicle.

4. Why Motorists needs the Auto Liability Insurance?

Most of the people ignore the state laws by saying that they have stuck with some limited auto insurance liability coverage.

5. Will the liability car insurance covers when I am driving a rental car?

Yes but with few exceptions. They will not be able to cover the entire expense but with some conditions as per the insurance companies policy and agreement.

Hope you are clear on the Liability Auto Insurance policy now, check with your insurance policy agent that it indulges the maximum benefits before making it yours. Any other pieces of information regarding Liability Car Insurance Policies are welcome.

Related: Compare Car Insurance in UAE

7 tips to acquire safe and cheap car insurance in UAE

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Cheap Car Insurance

The excitement of buying a new car, especially the first one, has no bounds. The added bonus of scoring the best and cheapest car insurance policy for your car implies you won big time. However, this enthusiasm must not be out down by landing on an insurance that looks great with excellent benefits but is actually a waste of money.

Unlike most products, the price of car insurance is not directly related to the quality of it. It may differ depending on a number of factors varying from age of customer to the type of the car purchased. Considering many factors, we have enlisted 7 major tips to acquire cheap car insurance policy in UAE.

Related: Buy Car Insurance from Compare4Benefit and save up to 1200 AED on Car Insurance

1. Research for best suited car:

The first step that is to be done before making any kind of purchase is to know about the choices. The best in market might not be best suited to your needs. Making an informed decision is the foremost task for making a responsible purchase.

The insurance cost will vary a lot depending on the type of car you purchase. The insurance of a high end car like the Range Rover will be a lot more than the basic model of Toyota.

This does not imply that in order to get leverage for a cheap insurance, you have to buy a cheap car. It just means that the best choice of the car should be done by considering the insurance amount also along with various factors like speed and mileage.

Related : Essential Checklist for first time car buyers

2.Cross check every eligible car insurance:

Once the car is selected, ask around for the best suited car insurance policy and you will get ample amount of choices. Every choice of insurance may sound like the best one if advertised properly. So making a wise decision can be a little tough.

The safest thing to do is to compare every insurance policy with their pros and cons. After enlisting the pros and cons eliminate those who have more cons than pros or those which do not cover the basic necessities that you need. Now make a checklist that will cover all the details from basics to additional benefits that you need from the insurance.

Finally consider the cost of the insurance and its worthiness with the benefits. Ask for discounts offered and you will be surprised with the choices. Make a well informed choice by browsing every insurance policy and selecting only the one best suited at the cheapest rate.

Related: Compare Car Insurance in UAE

3. Be responsible for the safety of your car:

While talking about the safety of the car, it is not just considering the lock system but also the safe driving with reasonable parking.

The theft of a car costs more on the insurance than on you even with the very low chances. Now you can make a choice of not loading up on the insurance company while the car is thieved or had an accident. You can take the full responsibility thereby reducing on the excess cost.

This will drastically reduce the cost of your insurance amount. But opt for this option only if you are a hundred percent sure on your driving skills and can bet anything that the car will not be lost under your care.

Related : 21 Cool Tips for Maintaining you Car

4. Mileage count matters a lot:

Al of the insurance companies believe that the more you drive the more are the chances of meeting with an accident. This comes true most of the time as more driving means driving in the highways and more chances of meeting with accidents. So chart your mileage according to your most needs and maintain it regularly.

If you have to travel from AbuDhabi to Dubai every day, then your mileage automatically increases and your insurance amount will also increase. This means that reducing your mileage could actually lead you being offered lower insurance premiums.

5.Cover the third party insurance:

Third party insurance is actually a safe house for your accidents. If you have committed an accident with another vehicle which has resulted in the damage of the second vehicle or the travelers in it, then you are bound to pay the third party insurance for the damage.

This can be covered via your insurance provider by accessing the third party insurance clause. Third party insurance is one of the most important protections for both your car and the other vehicle.

6. Multiple car insurance for the same owner:

This tip is for those who own more than one car. Claiming insurance for multiple cars will definitely reduce the cost of your combined insurance policy. The company will consider you as an important customer and hence offer you more discounts for your benefit.

Related : Get Discounts on Car Insurance

Take this opportunity to claim more at cheaper costs. Inquire with different insurance companies to avail the best benefits for all the cars. This is very beneficial for those who own businesses based on cars.

7.The better the record, the better the claim:

Safe driving has many benefits than just the safety of yourself. The practice of safe driving will lead you to benefits like low cost in the insurance policy also. Abiding by the law strictly while driving safe will help you maintain a clean record.

Also read, Complete Guide on Car Insurance in UAE.

A clean record is always better than the one with many faults. This will help you claim a better insurance. Become a safe driver to avoid paying high cost in your insurance.

In short, drive safe and prove that you can drive safe for availing better insurance cost. Hope these tips are helpful for getting you a cheaper car insurance policy.

Easy payment personal loans in Dubai

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Personal Loans Dubai
Find the Best Personal in UAE
Find Personal Loans from a wide range of banks in UAE that best suits your needs. 

The banks in the United Arab Emirates give out around 1.3 trillion dirhams (355 billion dollars) as loans each year. This is largely given to the immigrants, who earn a steady salary and have a valid residential permit.

For those of you who have been looking for loans to help out family or make important payments, the country of UAE is one of the most liberal ones. The country is also known for its small interest rates, which is helpful to the takers rather than the banks.

Depending on your salary and bank, you can pay a certain amount on a monthly basis and over the course of a particular time period. This timing can vary depending on the size of the loan and your ability to pay the maximum amount.

These easy payment personal loans in Dubai can be multiple times your salary, and this is entirely dependent on the bank. The duration of payment, however, is fixed and is usually in the range of 2 to 5 years. Different banks have various kinds of offers and schemes; here is an overview to help you make your decision better.

Personal Loans Minimum Income Loan Amount Maximum Term
 

RAKBANK RAKislamic personal finance

 

3000 AED

 

1.25 million AED

 

4 years

 

Emirates NBD personal loan for expats

 

5000 AED

 

1 million AED

 

4 years

 

Citibank salary transfer loan

 

8000 AED

 

2.5 million AED

 

4 years

 

Standard Chartered Saadiq personal finance

 

30000 AED

 

1 million AED

 

4 years

 

CBD Bank Absher personal finance for UAE nationals

 

8000 AED

 

2.5million AED

 

4 years

 

United Arab Bank personal loan for expats

 

7500 AED

 

2million AED

 

4 years

 

RAKBANK RAK Islamic Personal Finance

A bank with a rich history in the country, they are known to give loans to everybody and up to 20x their salary.

The minimum salary requirement for a person to be eligible for loans is 3000 AED.

There are two rates offered by the banks namely fixed interest and reducing interest. The former is used for short-term loans, i.e. duration less than 18 months and the latter is used for long-term loans.

The bank can give out an amount of 1.25 million AED, and one has to meet the salary criteria to get the loan. The bank gives out maximum term up to only 48 months or 4 years.

The scheme also offers a holiday period where the loanee does not have to pay the amount for a month; this can be availed once six months of payments have been completed.

For anyone looking for a quick loan to help them, RAKBANK offers a great range of schemes and offers.

Click here to apply for the RAKBANK RAK Islamic Personal Finance

Emirates NBD personal loan for expats:

For the immigrants and the residents here on work permits, it might be harder to find a suitable loan scheme.

The salary requirements are low and can be recessed in 7 days. This is beneficial to new employees, who want to apply early in order to help out with monetary issues back home. The minimal requirement is for a person to earn just over 5000 AED monthly.

There is a flat rate of 2.63% and a reducing rate of 4.99%. If you plan to apply for a big loan, it is smart to opt for the reducing rate as it helps curb interest rates in the long run.

There is also a holiday period where you can skip two non-consecutive instalments per year. This loan scheme allows you to apply even if you are self-employed.

Click here to apply for Emirates NBD personal loan for expats

Citibank salary transfer loan:

One of the most well-renowned banks in the world offering loans in a country which has some of the lowest rates.

This loan offer is one of the best you can find. It is offered to salaried individuals earning over 8000 AED in a month. The reducing rate is generally fixed around 6.99% but can vary according to the profile of the individual.

The flat rate as per a four-year calculation is around 3.73%. This loan is strictly for salaried employees, and the maximum term is 4 years.

For individuals looking for a quick loan to help, this option by Citibank seems to be popular for good reasons.

Click here to apply for Citibank salary transfer loan

Standard Chartered Saadiq personal finance:

This loan option is one of the more big ones available; customers can take up to 1 million AED in loans. The minimal salary requirement for such a loan is 30000 AED and comes with a 7.05% reducing rate and a 3.76% fixed rate.

The maximum term for such a borrowing is 4 years. If you want a rather big loan to finance getting your house, buying your dream car; this option is the best for you. You also avail a holiday period of two installment payments after a 12-month period.

There is no minimum balance requirement once you decide to get to the finance period. There is also a top-up facility given by the bank to help you if out if you need it.

Click here to apply for Standard Chartered Saadiq Personal Finance

CBD Bank Absher personal finance for UAE nationals:

For the citizens of the UAE looking to get a loan, the CBD bank has a great choice for you. With just a minimum salary of AED 8000 required to take this loan, you can take up to 20 times the salary.

Since it is offered to the citizens of the country, the maximum amount is far greater than what any other bank can offer.

If you can afford it, the bank will allow you to take nearly 2.5 million AED. For the ambitious ones among you looking to purchase a bungalow and other such luxuries, this loan is perfect.

The reduced rate of just 5.50% is a boon, however, depending on your profile and credit score it can jump to nearly 11%.

The flat rate is also a lowly 3%, great for any short-term loan you are looking to take. There are holiday options, it can be taken for the duration of 4 years and is only available to salaried employees.

Click here to apply for CBD Bank Absher Personal Finance

United Arab Bank personal loan for expats:

This alternative from the UAB is another one for the expatriates. It requires just a minimum salary of just 7500 AED and the reducing rates are just under 5.25%.

The flat rate is the lowest among any offering and comes in at just under 2.87% per annum. For those of your fortunate enough to have a big salary, you can take loans of up to 2 million AED.

If you want to settle here and get a big house and raise a family, loans of such magnitude are perfect.

You get additional benefits such as top-ups for any other expenses, free credit cards for the first year and a revolving overdraft facility. You can also get a holiday period on your payment once you have completed the first 12 months.

Click here to apply for United Arab Bank Personal Loan for Expats

These loan options are some of the many that are available. Personal loans can be used to alleviate pressures back home and for to help you lead out a more comfortable life here. With the low rates of interest, there is no better place to take it than the United Arab Emirates.

Top 10 fastest cars in the world

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Automotive Excellence can be measured in many ways, but speed is something that everyone cares, the following blog will let you know about the top 10 fastest cars in the world.

Fastest Cars in the World 2018 Top Speed
Hennessey Venom F5 301 MPH
Koenigsegg Agera 278 MPH
Hennessey Venom GT 270 MPH
Bugatti Chiron 261 MPH
Bugatti Veyron Super Sport: 268 MPH
SCC Ultimate AERO 256 MPH
Tesla Roadster: 250 MPH
Saleen S7 Twin Turbo 248 MPH
Koenigsegg CCR 242 MPH
McLaren F1 241 MPH

 

Related: Get VAT FREE Car Insurance from Compare4Benefit

Hennessey Venom F5

The vehicle is considered to be the newest hyper car & can accelerate up to 301 miles in one hour. With 1600 horsepower, the car is available at a price range of $1.6 million.

The car can hit 186 miles and are capable of running up to  250 miles per hour. The Hennessey Venom 5 is light in weight even with two turbochargers and a V8 engine.

The Hennessey Venom F5 weighs about 2950 pounds and is in the line of Guinness book of world records.

Koenigsegg Agera

Incorporated in 2012, the car runs on a high octane bio fuel with an  incredible speed of about 400 km per hour. There are four valves per cylinder with camshafts for making the car run faster.

The carbon fiber intake, bar boost pressure, multi point and sequential fuel injection, 9.0:1 compression, dry sump lubrication etc. makes the car unique and best among other fastest car in the world.

The car is an electronic differential, and they are developed primarily with paddle shift shaft transmissions, dual clutch(7 speed) and traction control. The power output of the Koenigsegg is about 1030 hp ar 7100 RPM.

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Hennessey Venom GT

A two-seat sports car earned the Guinness world record for the fastest car (300 km per hour in just 13.61 seconds) in 2013, they also attained the world fastest car trophy that was held at the NASA’s Kennedy Space Center on the Shuttle Landing Runway.

Hennessey Venom comes in an attractive glacier blue paint producing up to 1451 BHP with the v8 power engine and twin turbo. The car weighs about 2743 lbs and is sold at the price range of $1.2 Million US Dollars.

Bugatti Chiron

The car is considered to be the luxurious sports cars with two seats, they are developed with a turbocharged W16 engine, they are capable of running with a power output of about 1103 KW.

The car is capable of accelerating up to 97 km per hour in just 2.4 seconds, the maximum speed the vehicle reached was about 250 mph(400 km per hour in only 32.6 seconds) during the testing. The price of the car is about $226000 US Dollars.

Bugatti Veyron Super Sport:

With a maximum torque of 1500 Nm, 1200 horsepower, the car can accelerate between 0 to 100 kilometers in just 2.5 seconds. The vehicle launched in 2010 created new benchmarks by its top performance.

The car engine is designed with inter-coolers and four turbochargers(long) for the enhanced performance, and they are sold with a price tag of $1.7 million.

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SCC Ultimate AERO

The conventional type engine with Twin Turbo V8 performance is capable of 387 in3, the maximum speed they run is about 256 mph in just 2.8 seconds.

The SCC Ultimate AERO is one of the super and fastest cars with 1183bhp, and they weigh about 1200 kg but light in weight. While testing, the car was able to reach 439 kph, and this is just an impressive one when compared to other fastest car listed out here.

Tesla Roadster:

A new car which can run at a speed of 250 MPH in just 1.9 seconds is considered to the fastest car in the world, and the Tesla Roadster beats few other cars like Ferrari LaFerrari, McLaren F1 etc. in the testing results.

The 200kWh capacity battery of the car will help in travelling up to a 620 miles range to showcase the best performance, and this gasoline sports car will provide a feel of driving a steam engine with a quiche side.

The price of the Telsa Roadsters is about $200,000 US Dollars and are capable of accommodating up to 4 persons.

Saleen S7 Twin Turbo:

The car of this type is developed with 750 HP and can run on high speed of 339 Km per hour, they come with 6-speed transmissions, and the engine is designed as a Twin Turbo V8 for the improved performance.

The maximum RPM produced by the car is about 6300, and they are designed with 7000 cc Displacement. The super sports coupe weighs about 2950 lbs and is available in the price range of $ 555,000.

Koenigsegg CCR:

With 80 litres Fuel Capacity, the car can be accelerated about 100 km per hour in just 3.2 seconds, the braking distance of the Koenigsegg is about 31 m, and the end speed is noted as 253 km per hour during the testing.

The car can produce compression of 8.6:1 and generates a power output of 806 bhp at the RPM of 6900. The car weighs about 215 kg and can be displaced at 4700 cm3.

McLaren F1:

A sports car designed by McLarens is the superstar of 1990, and they have earned the Guinness World record for the fastest production car to reach 386.4 km per hour in the year 1998.

McLaren F1 is designed to be light in weight with a torque of 5600 RPM, 6064 L Displacement, 627 Horsepower at 7400 RPM, and they are available at the price range of $970,000.

Any other cars with the highest speed range? Let us know through the comment section below.

Want to know more news on Cars and Car insurance , visit our blog

3,000 cars recalled in UAE to fix defective parts! Is your car one of them?

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The Ministry of Economy previously announced that 13,000 sedans and sports utility vehicles to be recalled. Now an additional 3000 cars have been recalled in UAE, especially Mercedes Benz, Honda and Kia models.

The ongoing car recalls have impacted UAE residents urging them to schedule a service appointment with their respective motor dealers to get the defects fixed. Auto dealers have announced that any service and repairs will be made free of charge. Additional car recalls have brought the total number to 16,000 cars in the recent months alone. The recall in UAE covers units bearing vehicle identification numbers (VIN) ranging between 205 F 399635 and F 660468.

For 2011-2016 Honda Odyssey:

According to the dealer of Trading Enterprises Company, “the second-row outer seats in the subject vehicles may not latch properly to the floor. An unlatched second-row outer seat may tip forward during braking, increasing the risk of injury to the passenger”.

For 2015-2019 model-year Kia Carnival:

Al-Majid Motors Company announced a safety recall over issues regarding the power sliding doors. There are concerns that the power sliding doors of the said vehicles may not stop moving or detect objects obstructing their way, according to reports.

For 2017-2018 C-Class Cabriolet Mercedes-Benz units:

Gargash Enterprises and Emirates Motor Company announced the recall in order to fix the bonding problems on the beltline trim. Thousands of C-Class cars worldwide are believed to have bonding problems that the rear beltline trim could separate from the vehicle.

Owners of Mercedes-Benz G-Class AMG 2017 cars are also advised to schedule a service appointment to have their cars fixed over concerns regarding maximum speed control for when the vehicle is in reverse gear.

Related : Get a Car Insurance Quote Now!

21 Cool Tips for Buying and Maintaining your Car | Money Clinic

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Car Insurance Tips

Buying a car is considered to be the most expensive purchase after a home, so it’s essential to check out the car you are buying is of the best quality and also at a reasonable price.

Getting a car is easy if you have the price amount but the car will be in good condition only if you maintain them properly. Today we will check out some useful tips you can follow while buying the car and also few steps for managing them in the proper way for the car’s extended life.

10 Best Car Buying Tips

Proceed below to check out the things you need to look while getting a car for you.

Picking the Right Vehicle:

Choose a car that will fulfill your requirements and match your budget level, research for the trending and top vehicle that has an excellent reputation in the market as well as go with the one that has the real value for the penny you spend.

Focus on a Competitive Finance

Before shopping for the best car, you need to go around the right finance, never sign up the finance agreement just in case it is more comfortable, quicker and convenient for you as there are chances for the interest rate to be higher when compared to other providers.

Related: Compare Car Loan in UAE

Security

Never purchase a car from any private seller or unlicensed dealer, get it from a licensed dealer to protect yourself from unnecessary issues. You can identify an authorized dealer by their warranty and off periods.

Safety

Choose a car with all the necessary safety features so that you can be saved from life-threatening injuries during an accident or other problems. Get a vehicle with high ANCAP, go through all the features the car has before making them yours.

Own Inspection

Once you have chosen a car, undergo an inspection with a car mechanic to check whether they have all the features and parts, make sure everything is right as per the rules and agreement. Do not buy the car if you are unsatisfied or if you feel there is some fault in the vehicle.

Certificates

Make sure the car dealer has all the warranties, guarantees and promises listed in the certificates, read it correctly and then sign the agreement. Never get a car without any guarantee or warranty.

Do a Background Check

If you have decided to buy a car privately then background checks are mandatory, you can call 1300 007 777 or browse the internet for personal property security register and check out the information of the car you are going to purchase, you will be able to know whether there is a vehicle present or not.

Contracts

As said before you need to read the complete papers and then sign them, check for the car features, colour and other relevant characteristics are provided in the contract. The delivery date should also be specified in the deal in the case of new vehicles.

If your dealer did not deliver the car as per the contract, then you can ask for money refund and go for another vehicle.

Documents

Getting a copy of your warranty, contract and all other important document is a wise choice, make sure the safety certificate the dealer is offering is real and also check whether it has the life as per the rules and regulations on your contract.

Insurance

Make sure you insure your car before you take from the car dealer, you can go with CTP(Compulsory Third Party) insurance for the protection, a third party property insurance as well as Comprehensive Motor Vehicle Insurance for covering the problems caused to your car.

Related: Compare Car Insurance in UAE

11 Practical Tips for Maintaining your Car

Once you have purchased a car, you need to maintain them properly for providing a new look anytime as well as for enhancing the car life. Make a schedule and maintain them without delays so that your vehicle will show up the best performance always.

Preventive maintenance is also most important as they advise you regarding changing oil, getting inspections, checking for tire pressure etc.

Car’s Air Filter

Most of the problems in car occur due to the wears caused in the air filters, its recommended to change your filter after 12000 miles or once in 12 months. Ignoring this will bring you breathing difficulties due to the unhealthy air caused by the filter.

Changing the filter just takes ten mins in any mechanic shop, you can also do it yourself if you think you need to save your money.

Inspecting Tire Pressure and Fluids

Checking for the main components of the car is mandatory, fluids and tire pressure have high chances for wearing out quickly so that you need to pay more attention to them and check it regularly.

Battery

Most of them might have faced the car batteries getting run out during any important trips, to avoid this problem you need to check for the battery sign regularly. Check if there is any mineral present or leakages in the battery if so clean them with a good cleaning brush.

Spark Plugs

If you feel that you are having problems with your car engine, then the reason is undoubtedly the spark plugs. You need to replace them once they come for 30,000 miles to avoid the issues in the car engine.

Balanced Tires

Rotate your car tire once in a week or month for your car to run for an extended time without any problems and to avoid wearing out. You can balance the wear for the durability by rotating the rear and front tires regularly. Your car tires should be non aligned tired to avoid accidents.

Windshields and Wipers

If your Windshields are dirty then there are high chances for accidents, make sure you clean them regularly for the clear and perfect view while driving.

Check whether the wipers are perfect and if you find them damaged replace them immediately.

Serpentine Belts

If your serpentine belts fail, then you will need to spend much money for the repair as they bring damages to all of the accessories in your car. Once your vehicle reaches 60,000 miles, make sure you are replacing your serpentine belts.

Cooling System

The engine coolant hoses get damaged quickly due to the emitting of high-pressure fluids, so make sure they are working in the right way so that you can cut down the damage cost and unwanted car repairs.

Brakes

An efficient brake system means a more prolonged and youthful car, check for your car brakes regularly to avoid crashing or other damages. Replace them once in two years so that they come for an extended period.

Cover your Car

A simple tip to maintain your car is to keep them covered when not in use. Keeping your vehicle covered from sunlight helps the paint and outer materials to be stronger and also avoids easy fading.

Exterior Engine Cleaning

Maintaining your engine exterior is also essential, any unwanted dust or debris on your exterior engine may lead to the dismantling of your car, so its good to check them regularly and clean them regularly.

Apart from the above maintenance, you should also drive them carefully at the right speed without sudden breaks or stops, carry all the required automotive tools along with you in the car wherever you are travelling. Also protecting your headlight is necessary, driving the vehicle without a light on during the night will lead to accidents and other issues.

Following the above simple tips on buying and maintaining your car will help you to provide a brand new look anytime, helps them to keep in a good condition as well as come for long life without any issues or problems.

See also : Tips to Save Money on Car Insurance

Any other effective tips for buying and maintaining your car? If so, let us know through the comment section below.