Auto Insurance Secrets

Image source: reaach.com

Image source: reaach.com

If your vehicle stops working and its time for a new one, notify your broker. If it is a short term situation where your new vehicle purchased will be delayed for 6 weeks or so, you may be able to suspend your coverage until the new one arrives. The reasoning is that you should never have a lapse in your insurance policy. You do not want to cancel your insurance and then have to write up a new policy. If you do cancel your policy, you would have to start all over again with all the paper work and payment plans. One last important issue, if you have had an accident over the last year, you will have to declare that accident, which could result in a higher premium.

If you have an at fault claim, there is usually a deductible that you will have to contribute for the repairs. If you agree to have the vehicle fixed in a way that it is going to save the Company money, the adjuster may agree to lower the deductible for you.

If you have a claim which effects both your home and automobile policy at the same time, ask about being able to pay only one deductible rather than one for each policy.

Add your son or a daughter to your policy as an occasional driver, it would be well worth the money to do so. Once they get their own vehicle, they will have the experience behind them which will result in a lower rate once they purchase a vehicle of their own.

***If you work for an employer who offers a benefit package, review and compare the coverage that they both offer. If there is an accident, your benefit package at work will be the first to respond to coverage. After that has been used up, your auto insurance coverage will then kick in to provide the coverage available from your auto policy.f you are a young male driver, it pays to look into the rates before purchasing a policy. Rates come in different classifications. A 23-24 year old is much less than a 21-22 year old rates. If you are 22yrs old and your birthday is the following week, there could be a big different from 22yrs and 23yrs. You probably should wait that one week.

The same idea for traffic convictions or accidents. The date is going to make a huge difference. If you have a traffic violation that will be off your record in a week, delay the insurance until after it is gone. The premium will be much lower.

The rates for a male driver under 25yr is less if he is married.

Having an approved driving course makes a noticeable difference in your rates. If you do not participate in one, the rates will be higher.

If you have two vehicles, the rate will be different if you are driving to and from work, drive the less expensive car to work to save on the premium.

Sometimes, you can approach an insurance company about making a change mid term. This is not like a vehicle or address change, this would be something like lowering your rate because you have turned 25years old or because a traffic offence has been removed. The Insurance Company will probably agree to the change.

There are always way to save on your auto insurance rates. You just need to keep on top of it and always speak to your broker. They are your friends in the Insurance Industry and will always have your back.

*** Corporations and business offer excellent benefits to their employees. The Insurance Company is aware of this medical package so they partner with the employer to offer discounted rates to their employees. They agree on the terms and start up offering Group Auto and Home Rates

Why this works. – An example would be – The Auto Workers have their own benefit package. It offers thousands of dollars for care, illness, and accidents. If you are involved in an accident, your employee benefits kick in to start your coverage. Once those funds are exhausted, only then will the Insurance benefits continue to pay the cost needed up to your limits.

Come visit insurancemarket.ae and we’ll use our several secrets to help you maximize the benefits from your auto insurance in Dubai.

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Home Contents and Tenants Insurance

Image source: arabianbusiness.com

Image source: arabianbusiness.com

If you are renting an apartment or a house, it is important to make sure that you have Insurance for not only protection of your belongings, but against any type of damage to the building in which you will be held responsible. A contents Insurance policy includes this type of Liability protection. Remember to always choose the highest liability you can buy. The cost is very affordable and will give you peace of mind. The cost of a contents policy including the liability is next to nothing if you look at what a lawsuit, with court and lawyers fees would cost.

There are many people who feel that since they don’t own a home, or feel they do not have that much to insure, don’t give it a second thought. They do not want to spend the money for something they may not even use. If you can take 10 minutes to walk around your home and write down what you have, you will probably be surprised how much you do have.  Below, there is a small list of items we use everyday. If you put a price on each item and add it up, would you have the money to replace them.

Table and Chairs

Couch/Sofa & chairs

Bed

Washer/Driver

Fridge, stove, microwave

Vacuum

Plasma TV’s and all electronics

Dressers

Clothing

The list above is only the normal everyday items in your home. It does not include the items in your child’s room, jewelry, fine arts or collections. Even the basics like pots, pans, cups,saucers, silverware barbeque, and lawn furniture.  There is a inventory booklet on our site that you can print of and do the walk around to get an idea of what the approximate value of your possessions are in your home.

One of the most important types of coverage that is included in a content insurance policy is “Living Expense”. The name may differ with other insurers, but the coverage is the same.  This coverage is going to give you a place to stay until you can move back into your home. It also will pay for, travel expenses for taxi’s, motels, meals, clothing, and any other everyday needs. I cannot imagine being unable to go home with a small child or baby.

Most policies cover you for fire, theft, vandalism, wind or water damage. These are just as few of the perils covered by your Insurance Company.  Most insurers often include coverage for personal belongings worldwide. That is great news for travelers. If you are concerned about expensive items like jewelry, call us and check to see if there is a limit on it. It could be unlimited, but if there is a maximum limit, you can usually purchase more coverage at an additional premium.

There could possibly be a discount if you your contents with the same Company.

Come visit InsuranceMarket and we’ll help you put together a home insurance policy as well as the supporting documents that you should have in order to have your home financially secured.

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Medical Insurance in Dubai

Image source: gulfnews.com

Image source: gulfnews.com

The obviously reason to purchase Medical Insurance is to have the means to take care of yourself and family if needed. From regular checkups at the doctors to surgery, it takes the burden off you financially and gives you a peace of mind knowing you have the best care available.

There are different Companies in Dubai that have medical insurance available for you to purchase. Some give you basic coverage, others offer full benefits and then there are comprehensive plans that extend your benefits worldwide. Here are a few questions you may want to keep in mind when purchasing medical insurance.

  • Is there coverage for long term illness like cancer?

Yes there is coverage you can purchase that does cover any long term illness.

  • Will they cover for pre-existing conditions?

Yes, most plans do NT have coverage for a pre-existing medical condition and it would cost additional funds for that type of care.

  • How do I find out what medical plan is best for my family?

There are different types of plans available which are set up to accommodate everyone.

  1. Basic Coverage – This type would be for individuals who do not travel and only need basic insurance coverage.
  2. Broad Coverage – Another type would insure you while traveling regionally and contains additional coverage as well.
  3. Comprehensive Coverage – This plan is the best coverage if you are continually traveling internationally and need a broader form of coverage.
  • Will these medical plans cover dental work?

The broad plans do cover standard dental work and emergency situations.

  • What about pregnancy and pre-natal care?

Yes, there is a limited amount of coverage for all pregnant women and the new additions to their families.

  • What about my drug prescriptions I use monthly.

Yes, they will cover your medication. Some plans do have an annual deductible that is usually paid at the beginning or end of the year.

  •  What about my children, will they be covered?

Any child under the age of 21 can be added to your insurance plan. Once they are over 21 they must purchase their own policy.

There are always optional coverage that can be added to an existing medical plan as individual needs change.  Periodically, there are also various benefits added to the plan. They do have monthly payment plans to make the insurance more affordable for everyone. The price of Medicare is so expensive that if you get ill locally or abroad, it can cause financial ruin. Most people do not have hundreds of dollars put away that they can access for an unexpected accident.

Many Insurers do have a website set up so you can log in to check any information you need. You can contact them 24/7 for any assistance that you need for a medical emergency.  You will receive a benefit card which you should keep with your drivers’ license. That way should you have any sort of accident while you are alone, the first place they will look for identification is your drivers license.

Come visit InsuranceMarket.ae to receive a comparison of all the medical insurance policies that will suit your very requirement.

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Travel Insurance for the Dubai Traveller

travel2When taking a trip abroad, it is imperative that you purchase travel insurance. There are numerous plans that you can purchase and customize to your own individual needs. The travel insurance package must be purchased prior to the date of your trip. Listed below is a few different types of coverage available to you.

Trip Cancellation – Trip Interruption

Sometimes the unexpected happens which is totally out of your control and you need to end or cancel your trip. It could be from an emergency in your family, illness to you or your travel companion. This coverage will allow a refund of your travel package. Coverage is also available for an unplanned incident that requires you to take a one way trip back home.

Flight Accident

This coverage is for accidental death, major injuries such a loss of sight or limbs while in flight.

Accidental Death & Dismemberment

This plan is similar to the flight accident coverage, however, this coverage extends to you for any incident that occurs while on the trip. Not during the flight.

Baggage

Loss of your luggage en-route to your destination can go missing with a variety of important information in it. It is recommended that any important papers like passport, money, medications be carried with you on board. If they have lost your walker or wheelchair, the insurance will assist you immediately.

Student Medical Travel

Students traveling to different schools all over the world need to buy medical insurance. It is extremely important that you research the coverage and obtain it before you leave. The travel insurance above is not meant to cover you for medical expenses. This travel plan will cover you for the basics needed while traveling to and from a different location.  There are student medical plans which are quite affordable. They will cover doctors appointments, dental, physiotherapy. If you consider the alternative of paying hundreds just for a doctor’s appointment and medication, it is well worth the investments.  Some of the medical plans do come in packages. Here are a few medical benefits, you must have in your policy. 

Emergency Medical Care

This allows you up to $1 million emergency or non-emergency medical care. The most important type of coverage you should buy, as it covers you up to $1,000,000 for all medical care. It can be used for non emergency or unforeseen emergency medical care. This medical care can be used for all types of medical care, including x-ray, physiotherapy and many more variety of coverage.

Dental Care

It is well worth the time to look for a plan with dental coverage. Dental work can be very costly, and if caught off guard while traveling, it could be very expensive.

Accidental Injury or Fatality

If there is a accidental injury or fatality, coverage in the amount of $10,000 is available to you immediately.

Tuition Loss

There is compensation up to $5,000 should you become ill and cannot complete your studies to pass the course.

Many major credit cards now include a certain amount of travel insurance. Check on their website for more information on that coverage. If you have a benefits policy at work, you may already have coverage You may not be aware of this, but some employee benefit packages also come with limited medical coverage while traveling.

However, most of the ‘no added cost’ benefits such as those with credit cards are quite strictly limited and won’t be anywhere close to a comprehensive travel insurance policy.

Visit insurancemarket.ae for quick and easy travel insurance policies whether for annual business travel, a short vacation or a Schengen visa requirement. We can also cover your valuable personal belongings while you are abroad.

 

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Home Insurance Claims – The Big Issue of Water Damage

Image source: blog.propertyfinder.ae

Image source: blog.propertyfinder.ae

Insurance Companies have been paying out millions of Dirhams over the last couple of years, and quite a bit of it is because of the weather. We have had huge problems with flooding, water damage, huge storms and even fire losses. Many insurance companies do not cover flood insurance. There is a really fine line when it comes to water damage. Whether it is covered under your policy or not, you should immediately remove everything you can to prevent more damage. You may be surprised to know that there is a good possibility that there is damage behind the walls that you cannot see. The walls need to be dried as soon as possible. If there is mould or mildew, it will just spread and that is when the health issues start. It is harder to notice as most homeowners now complete their basement like an another level and living space. It is not easy to see behind the wall board, ceiling tiles, etc. At one time, basements were uncompleted and all you could see was the cement walls and floors these days.

If you look at the hurricane that hit New Jersey last year, apart from the water and the winds itself, it looked like every single house was in the middle of a sand pit. The sand was in every crack and cranny in those houses. I would imagine it would be covered under their insurance. Damage like that, must have caused millions of Dirhams in repairs.

It would be interesting to follow a case through from the beginning to the end of the repairs. They don’t cover flooding, but most will pay for sewer backup damage. I am not sure if that means you have to give them water sample from the basement and have it tested. If it really smells like a sewer than I guess it would be covered under sewer backup. People are getting smarter, and it is no surprise to me that people have been told to make sure there is solid matter in the basement, so it will look like it was definitely sewer backup.

In severe cases, I would hope the insurance companies would cover all wind or water damage. It would not be the first time they have done it, but it is getting to the point where they are going to have to increase homeowner policies rates.

If you look at a policy which is insuring your home which is worth almost a million Dirhams, an AED 900 annual premium really is not that much to pay for you to pay.

Image source: mattandkatiedubai.blogspot.com

Image source: mattandkatiedubai.blogspot.com

The infrastructure of city water mains is a huge problem. If a good downpour of rain happens all at once, the road sewers cannot handle the volume and the water just floods over into people’s homes.

An additional problem is the scope of water damage. An example of this would be a sewer back up claim. While the contractors are in there fixing it, along comes another storm and the ground is still soft from the previous storm, so it is just going to back up again. If you have massive rain in an area where they have already been flooded, repairs are going to be ongoing until it can be repaired properly.

You can meet Alfred for car insurance and home insurance policies that cover natural perils – a very important cover even in this part of the world.

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