Auto insurance policy- Questions and answers series 2

questions_answersHi Guys! Hope you’re all good. It’s a new week and we’ve started with a bang. Meeting new people and solving our clients’ insurance policy related problems is a commonplace for the very passionate insurancemarket.ae staff. In my first questions and answers series for auto insurance, I discussed about a few issues. Here again, I’m trying to highlight a few more.

What is the auto insurance policy against loss, damage and third party liability?

This is an all-inclusive insurance policy as per the UAE Unified Motor Policy covering:

Damage to the car due to an accidental collision, overturning, self ignition, external explosion, fire, theft, or malicious work, unless specifically excluded.

Accumulated legal liability and agreed costs and expenses against third party bodily injury/property damage happening out of use of motor vehicles unless particularly excluded.

I only have a third party liability policy. What will it cover?   

This policy coverage is essential in the UAE as per the UAE law and it features:

Death or any injury in the body of any third party

Damages to any third party property arising out of the use of your vehicle. More importantly such policy won’t cover any loss or damage to your own car.

Can I cancel my policy any time?

You can cancel your auto insurance policy at any time, but the UAE Ministry of Economy wants the respective insurance company to obtain copies of the below documents before cancelling the third party liability of the policy:

  • Deregistration of the vehicle
  • Ownership transfer of the car
  • Number plate certificate

In any case if the policy gets cancelled would I expect to get any refund from insurance provider?

Yes you can expect. As long as no claims were made during the insurance period you’ll get a refund.

What about NCD?

NCD stands for No Claims Discount. It is a discount given on the premium you pay, when you provide proof of no claims from your previous insurance company.

Whenever selling my car is that possible to transfer the insurance to the buyer’s name?

Your premium and terms for auto insurance policy affects by the experience of driver of the car.  So it’s usually not possible to transfer the insurance policy coverage from one driver to another. However, if you have a brokerage firm on your side, perhaps they can work something out for you.

Do you provide comprehensive motor insurance cover for all cars irrespective of car age?

The comprehensive cover for motor insurance is available for vehicle up to the age of 7 years. Cars over 7 years need to be referred to your insurance provider’s car insurance team for evaluation of each case in order to ensure that you are correctly insured and help you meet your requirements.

How do you help me if anytime I lose my car insurance certificate?

Once you lose your insurance certificate please try to get in touch with us immediately. We’ll then make another one for you.

Do you want to know more about Alfred? Visit Alfred’s Google plus profile

[Image source: magicalmaths.org ]

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One thought on “Auto insurance policy- Questions and answers series 2

  1. Well your insurance is a lot different then our here in Canada. Fascinating how we’re covered differently by completely different companies. The financial part has to be roughly similar but some of your practices seem a little “ahead of the curve” compared to Canada. Nice work worthy adversary!

    Great post,

    Ash

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