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Mistakes to avoid when buying car insurance online

With the proliferation of computers and the internet, the world today is going through a digital revolution. The field of information technology has revolutionized the manner in which the world has been running, and most spheres of the society have adapted quickly to this change.

Most businesses today have transformed themselves to become digital, and the insurance sector is no different. Today, one can buy any insurance online quickly and in a hassle-free manner.

However, there are some errors that one can make in purchasing car insurance online Dubai. Here are a few mistakes to avoid when doing so.

Not doing enough research

In today’s world of online shopping, we research multiple options before buying the simplest and the most basic things such as clothes and footwear. Imagine, then, how much research a valuable asset such as a car insurance needs.

The internet is a very powerful tool. By merely clicking a few buttons, you would be able to check the credibility and authenticity of the insurer. Further, you can compare and contrast the features of a wide range of car insurance policies. Remember to identify multiple insurance providers and pick the one that best suits your requirements.

The most ideal insurance provider is one that gives you the best balance between the premium and the coverage amount.

Purchasing a policy with the lowest premium

It is not necessary that the policy with the least premium be the best for you. Understand what offerings the insurance provides you with and then make an informed decision.

There are generally two types of motor car insurance policy: third party liability car insurance and comprehensive car insurance. The former is the most basic form of insurance that provides compensation against any liability arising out of injury or property damage to a third party by the insured vehicle. The latter not only compensates for third party liabilities but also protects the insured vehicle.

Oftentimes, a policy with less premium rates might provide you with a third party liability but not with the comprehensive car insurance. Hence, understand the inclusions and exclusions of each policy and make a decision accordingly.

Not filling in accurate information

Whenever you file a claim, the information that you had filled while purchasing the policy is verified. Therefore, it is imperative that you fill in all the necessary information to the best of your knowledge.

Unfortunately, some people conceal information or fill in misleading details believing that it would lower the premium rates. However, such an act might lead to your claims being rejected later.

Not reading the fine print

There could be multiple inclusions and exclusions in the policy document. And while it is common to read the inclusions, we often overlook what might be excluded in the policy. However, it is important to read the fine print before finalizing on an insurance provider.

Not checking the claims settlement ratio

Claims settlement ratio is the percentage of the total number of insurance claims paid out by the company against the total number of claims received. Obviously, the higher the claims settlement ratio, the more the propensity of an insurer to settle the claims. This is an important factor in assessing the pattern of resolution of claims by the insurer.

Not choosing the right add-ons

Most insurance providers have add-one features that will provide you with optimum protection. You must select the appropriate add-on coverage based on your risk profile. For instance, if you generally drive late in the nights, selecting an add-on feature such as quick road assistance can come in handy for you in the event that your car breaks down at an odd hour. 

Similarly, if you are a frequent traveller, some insurers provide you with support and discounts on international driving licenses.

Not reading the reviews of the insurer

Existing customers are the greatest source of feedback for any brand. So, read up detailed reviews of the insurance provider and understand what its customers like and dislike. This exercise will help you make an informed decision on which policy to purchase.

Buying car insurance online definitely saves you much time, effort, and money, and a little caution and due diligence is all you need. Now that you are aware of the common errors, we are certain that you will feel more confident in purchasing car insurance online. Good luck!

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