Busting Car Insurance Myths That People Believesby AlWathbaInsurance Dubai AlWathbaInsurance
If you're hunting for inexpensive auto insurance, you need to know the truth. Friends and co-workers can not be the most accurate sources of insurance knowledge. Thus, check out the most common myths that people believes debunked below -
Myth: Old car don't need insurance
Reality: It is still mandatory by law.
It is compulsory by statute to have the vehicle protected against at least third party liabilities, irrespective of how old it is. But if you find it's not worth the cost, there's a thumb rule that you should obey. As long as the vehicle's current value is greater than ten times the auto insurance rate you charged, it is worth a generous policy. If you don't, you can opt for minimum third party exposure policy, which is often far more accessible in terms of auto insurance rates, relative to adequate insurance coverage.
Myth: I'll risk my No-Claim Benefit if I move my coverage to a different insurance provider.
Reality: The No-Claim Benefit remains with you.
No Claim Bonus is a special benefit you get for safe driving in the form of a refund on the car insurance rate. Basically, you are eligible for this discount because you haven't submitted any charges during the preceding political year. It is a net benefit, and it tends to increase with a year that is free of statements. Thankfully, the No Claim Benefit would still be shifted even though you adjust the insurance provider. The only stipulation here is that you need to apply within 90 days or so of the expiry of the old insurance. So, timely renewal is pretty important.
Myth: In case of an injury, you get medical protection only.
Reality: Auto accident scheme scope is far wider.
You are covered in the event of an accident, but car insurance also covers the loss that you may have incurred due to causes that are beyond your control. It covers natural disasters such as earthquakes, landslides, flooding, etc. and man-made disasters like transit destruction, terrorist attacks, unrest, robbery , burglary, etc.
Not knowing the truth could end up costing you a great deal of money. So, it is recommended to know about the facts before doing anything. Moreover, if you are in UAE then Awnic is the place you would love to go for your car insurance due to its unparalleled service and price. It would not be an exaggeration to say that Awnic has been one of the best car insurance companies in Dubai for years.
Created on Jul 15th 2020 07:04. Viewed 67 times.