Protect yourself and your vehicle from damage and liability by purchasing car insurance. This article gives you a compiled list of the best car insurance companies in the UAE.
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What types of car insurance are available in the UAE?
Due to the risks associated with driving on the road, car insurance is a mandatory and legal requirement in the UAE. Driving without car insurance is a criminal offence and is essential for every car owner. Insurance companies in the UAE mainly offer two types of car insurance.
Comprehensive Car insurance:
Comprehensive car insurance offers protection against damage to the owner’s vehicle and to third parties involved in an accident. Comprehensive insurance covers road accidents, vandalism, theft and natural disasters such as sandstorms. You can also choose add-ons to suit your needs, such as passenger cover and a car rental option. This type of insurance provides a well-rounded and comprehensive cover for the car owner.
Third-Party Liability Insurance:
The second type of car insurance available in the UAE is third party insurance. Third party car insurance mainly covers damages caused to the other party involved in an accident. This type of insurance is the minimum and basic car insurance required by law. It is most suitable for people who don’t want to invest a large amount of money in car insurance. In the event of an accident, third party insurance covers the damage caused to the other party’s vehicle. The premium for this type of insurance is lower than for comprehensive insurance. Premiums vary according to the model of car, the type of vehicle and the age of the driver.
What factors to consider when buying car insurance?
For maximum protection, you can choose a policy that offers complete coverage based on your needs. Here is a list of important factors to consider when choosing a car insurance policy.
Agency Repair: Ensure that your car insurance policy covers the cost of repairs conducted by a main dealer. In the event of any damage to your vehicle, authentic parts will be used for any necessary repairs or servicing.
Medical Expenses: This policy covers medical expenses for the driver and passengers within 24 hours of an accident. This policy covers damages caused to the car while being driven off-road.
Off-Road Coverage: This feature provides protection for off-road damage or loss of the vehicle.
Personal cover is available for the driver and passengers in case of loss of life, with a maximum payout of 200,000 AED per person.
Roadside assistance is also available if you experience fuel depletion or breakdowns while on the road.
These are crucial aspects of a car insurance policy that a car owner should seek..
The Top Car Insurance Policies in the UAE
1- Noor Takaful Insurance Company:
Although a recent addition to the industry, Noor Takaful Insurance has already established itself as a leader. The company’s insurance policies cater to the ongoing needs of its customers while adhering to the traditional laws of Sharia.
They offer car insurance plans including comprehensive coverage starting from AED 819/ year.
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They also offer personal belonging coverage up to AED 4,000.
Noor Takaful car insurance policy also offers add-ons, such as Oman extension (comprehensive cover), off-road vehicle coverage, rent-a-car feature, as well as driver and passenger personal accident cover.”
2. Sukoon Insurance Company:
Based in Dubai, Sukoon Insurance (formerly known as Oman Insurance Company) is a highly respected and dependable car insurer. Considered one of the leading names in UAE for car insurance, Sukoon Insurance offers a complete range of comprehensive and third-party car insurance
plans, including high net worth motor cover insurance for luxury vehicles, and InsureMyTesla, a plan tailored to Tesla owners.
Their comprehensive and third-party policies include third-party damage cover up to AED 3,500,000, while InsureMyTesla and High Net Worth Vehicles are granted up to AED 5,000,000.
Their plans provide emergency medical cover up to AED 5000, windscreen cover up to AED 3000, and personal accident cover up to AED 200,000 as an add-on.
Additionally, they provide personal accident cover, a rent-a-car feature, off-road coverage for SUVs, and a courtesy car cash benefit as supplementary add-ons.
3- Gulf Insurance Company (GIG):
GIG Insurance (previously AXA Insurance) is a French multinational company that has maintained a dominant presence in the Gulf region for over 68 years. The company provides comprehensive car insurance plans with coverage for up to 15 years. The company’s range of options and value-added services distinguishes it from its competitors.
GIG Insurance offers a variety of insurance policies, including comprehensive car plans, third-party liability insurance, and motor prestige and motor perfect plans.
GIG provides third-party damage cover up to AED 3.5 million for their Perfect and third-party insurance policies.
They offer two emergency medical cover options: Prestige Plan, providing up to (amount), and Perfect Plan.
Emergency road assistance is available year-round.
Additionally, GIG offers personal injury coverage up to AED 20,000 with both Prestige and Perfect policies.
Optional add ons include GCC cover and personal accident cover for the driver and passengers.
4. Emirates Insurance Company:
Emirates Insurance, a trailblazer in the insurance sector, has held a prominent position as an insurance provider for over three decades. It is a semi-governmental entity with more than 250 personnel working across 30 branches.
Emirates Insurance proposes an array of automobile insurance policies that includes thorough coverage against unintentional damage to the policyholder’s vehicle and damage to a third party vehicle or property. Technical terminologies are defined upon first usage and subjective evaluations are readily marked as such. In addition, adherence to accepted grammar, spelling and formatting guidance is maintained. Comprehensive cover also insures against damage to third parties and liability to passengers in the policyholder’s car.
Third-Party Liability covers accidental damage and injuries sustained by the third-party vehicle as well as the driver and passengers. It offers cover for property damage and passengers in the insured vehicle as well.
Motor Fleet Policies provide annual cover for multiple vehicles owned by the policyholder under a single policy. The insured can add or remove vehicles from the policy as required.
5. Orient Insurance Company:
Orient Insurance is a highly reputable insurance provider in the UAE. Additionally, policyholders of Orient Insurance receive roadside assistance in the event of a vehicle breakdown. The company has established itself in the insurance sector by offering a comprehensive range of policies. These policies are straightforward to claim and safeguard both the car insurance holder and the third party against damages. The company provides insurance coverage of up to £1,000 in the Sultanate of Oman. Orient Auto Insurance covers damages incurred by the insured’s vehicle and protects against theft. Claims can be registered for an amount almost identical to the declared value specified in the car insurance policy.
6. Royal & Sun Alliance Insurance Company(RSA) :
RSA Insurance has a long history in the insurance industry, dating back to 1956 when they first began offering car insurance policies to customers in the UAE. As one of the oldest insurance companies, RSA aims to adapt and evolve with the changing needs of their customers. They have established and successful offices in the UK, Ireland, and the Middle East, and offer a comprehensive range of car insurance policies categorized into three types.
- Motor Executive insurance
- Motor Smart plan
- Motor Value insurance
7- Watania Insurance:
Watania Insurance provides coverage for damage to the insured vehicle and its accessories resulting from accidents or unintentional damage caused by the insured or the driver. Additionally, the policy offers third-party liability coverage for property damage, physical injury or death caused to a third party.
The benefit of
coverage against physical injuries and bodily harm resulting from accidents leading to injury
or loss of life is also included in Watania Insurance.
Battery boosting services are also offered under the insurance policy to assist in jumpstarting your car. Nonetheless, battery replacement is not included in the insurance plan.
The policy also provides coverage against damage resulting from natural disasters.
8- American International Group Insurance Company (AIG):
American International Group Inc. is a globally renowned insurance company. It provides a diverse range of life, motor, and casualty insurance plans across more than 80 countries. The company is dedicated to ensuring that its policyholders receive comprehensive motor insurance coverage against a range of risk factors. This all-inclusive coverage includes:
Through this insurance, policyholders can insure an unlimited number of vehicles, including motorcycles, vintage cars, and everyday-use cars under a single policy.
The policy includes an Agreed Value feature, whereby the company offers consultations to evaluate the value of the insured vehicles. In the event of a covered total loss, the company pays the agreed amount regardless of depreciation.
Additionally, there is also a Vehicle Replacement option. If your new vehicle is written off within three years of purchase, you can select the method of replacement. You may replace the vehicle with a model of the same make and type.
Repairs: If you have coverage for an antique or high-value automobile, this insurance policy will guarantee the use of genuine manufacturer parts (when feasible) for any necessary repairs.
How to Buy Car Insurance?
The optimum method for purchasing car insurance in the UAE is via a car insurance broker. The task of acquiring car insurance that is tailored to your requirements can be a challenge, given the multitude of insurance options available. It is prudent to enlist the assistance of insurance brokers, who possess in-depth knowledge of premiums, coverage, and various insurance companies, in order to identify the most suitable plan for you.
A car insurance broker acts as an intermediary who investigates the array of available choices and furnishes you with insurance plans that fit your requirements. Engaging with a car insurance broker can help you economise on both time and labour while securing your eligibility for plentiful benefits and discounts.
A car insurance broker acts as an intermediary who investigates the array of available choices and furnishes you with insurance plans that fit your requirements. The market contains a vast selection of choices, rendering the selection of an appropriate car insurance plan to accommodate your needs a daunting and occasionally perplexing challenge. Therefore, it is prudent to enlist the aid of insurance brokers, who can assist in locating and adapting the optimal vehicle protection scheme to meet your specific needs. Professional Consultation:
There are various fundamental reasons why seeking the assistance of car insurance brokers can be advantageous.
They can provide professional advice as they have a comprehensive understanding of car plans that are suitable for your requirements.
Advantageous Proposals: Most insurance firms in the UK maintain close partnerships with brokers and endorse their car insurance packages. Therefore, collaborating with a motor insurance broker can lead to attractive discounts and premiums.
Exclusive motor insurance schemes may restrict public access to vintage and premium car insurance. Additionally, you may qualify for preferential premium rates.
It is imperative to compare various policies from different insurance providers. You should ensure that you affiliate with a reliable insurance broker who can understand your needs and recommend the best motor insurance plan. Select an insurance provider or broker that demonstrates dedication and simplifies the entire process for you. As you now comprehend the criticality of car insurance within the UAE, it is a requirement to obtain it.
