Thinking of buying your car insurance online, but don't know where to start? Let us walk you through the process of acquiring a car insurance policy online and how, keeping a few important things in mind, it can be a rewarding experience.
Trying to navigate through the exhaustive information on car insurance products available online can be challenging. Before you lose yourself in the facts and figures, read on to fully understand the process, features, benefits and conditions associated with purchasing car insurance online so you can make an informed choice.
Why buying online is smart
The online platform for insurance transactions has been a game changer owing to the convenience it offers its users. It not only saves you time and energy, you get a world of unbiased information at your disposal.
Moreover, you can expect complete transparency in plan features. You will find detailed policy description - What's included, what's not - Everything you need to know at the click of a button. Browsing plans, comparing features and reading customer feedback helps you gauge the performance of different insurance companies.
Online purchase also offers a great degree of flexibility with a multitude of options to customise your policy. A single online form to be filled and required documents to be uploaded also means reduced paperwork and zero hassle.
The biggest benefit, however, is the cost-effective nature of online policy purchase. By eliminating middlemen, infrastructure and other overheads, insurers can pass on the savings to online buyers in the form of discounts.
The process of online buying
Following is a step by step guide to obtaining a car insurance policy online.
Understand the level of coverage you need
Begin with identifying the level of coverage you require. Insurance providers in the UAE offer two types of car insurance coverages - Third-party liability coverage and comprehensive coverage. Third party liability coverage offers the minimum level of coverage and only pays out to third party in case of an incident. Comprehensive coverage, on the other hand, pays out for damage to your car as well as covers all damage to the third party.
Additionally, you can opt for numerous add-on features at extra premium to meet your individual requirements. These may include agency repair, personal accident cover, Oman extension, natural calamities cover and so on.
The next step is to fill out a form with complete details of your car and yourself. The online quotes generated help you compare the benefits and prices offered by different insurance providers.
An important point to remember here is to assign the correct value to your car. The declared value of your car is, in the simplest terms, the sum insured in the car policy. Lowering the value of your car to keep premiums low might prove imprudent in case of a claim.
You must also take the policy excess or deductible into account when choosing a policy. You may notice that the higher the deductible, the lower will be your premium. However, keep in mind - Higher deductibles translate into higher out-of-pocket expenses at the time of making a claim.
Look out for offers and discounts
Limited period offers and discounts on all or specific insurance provider's products are a major reason to hop online for your next car insurance purchase. These discounts can shave a few hundred dirhams off your car insurance premium. Sign up for newsletters from comparison sites to stay abreast of these offers, which are especially useful if you have a car insurance renewal coming up soon.
Pay and go
To complete your purchase, you can make direct payment at the comparison Website through credit card or over the phone. Don't forget to check with the service provider about the turnaround time involved in processing the payment and issuing the policy. For instance, on Souqalmal.com your policy is issued within an hour of your payment being made and documents being uploaded.
Reach out for support if needed
If you get stuck at any stage of the online purchase process, you can get in touch with the service provider's call center representatives or online support team.
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