Driving a used car can be a wonderful experience if you have the right car and the right insurance. However, getting the right insurance can also be quite difficult. Indeed, there are many factors that need to be taken into account when purchasing car insurance for a used vehicle in the UAE. The good news is that getting car insurance for a used car is no more difficult than it was five or even ten years ago. But there are several things you need to keep in mind before purchasing auto insurance for your used vehicle. This blog post contains everything you need to know about getting car insurance for a used car in the UAE.
Types of car insurance in the UAE
There are two main types of car insurance in the United Arab Emirates: third-party car insurance and comprehensive car insurance. Car insurance is mandated by law in the United Arab Emirates. Third-party auto insurance covers any liability arising from damage to a third-party car, person, or property. Comprehensive auto insurance, as the name suggests, is a more inclusive plan that covers damage to your vehicle due to accidents and also protects against any liability caused to any person or property. . It also includes losses incurred by you from theft, natural disasters and even gives you the option of choosing additional coverages for car accessories and more.
Consult an auto insurance broker
Before purchasing car insurance for a used car, it is important to consult an insurance broker. This person will be able to tell you which company has the best offer for your needs. An insurance broker can also help you understand the coverages and rates available for your specific situation. The brokerage may also be able to recommend a basic policy that will meet your needs without too much hassle. It’s fine if you don’t know anything about the ins and outs of buying car insurance in the UAE.
Car insurance transfer check
If you are buying a used car, you need to make sure that the current car insurance policy is transferable to your new vehicle. Registration and full ownership of the car will not be transferred to the new owner until the insurance transfer is complete. But you should note that auto insurance can only be transferred if there are 7 months or more left in the policy term. If not, you will need to purchase new auto insurance for your vehicle.
In the event of a bonus-malus, it cannot be transferred to the new owner. No Claim Bonus is a reward for the driver/car owner who has not filed a claim during the policy year.
Documents needed to purchase car insurance for a used car
One of the first things you will need to do is provide the make and model of the car, as well as its registration number. You will also need to provide your name and address. In addition to these documents, you will need two insurance certificates from the seller, one which details an accident history report for the car and another from a company specializing in used cars. In summary, here is the list of documents needed to take out car insurance for your used car:
-Proof of existing auto insurance policy
-A NOC or certificate of no objection from the owner
-Motor Insurance Transfer Request Form
-Proof of ownership from the new owner
-Original registration certificate and documents of the car
-Car inspection report
-The bottom line
In order to determine how much your policy costs, there are a few things you need to do before purchasing auto insurance. First, find out what type of coverage and additional coverages you will get with the policy. Second, find out what the deductible is on that particular policy. Finally, make sure you have all the necessary documents to purchase or transfer the used vehicle to your name. a.
Fortunately, you can avoid these pitfalls by consulting an auto insurance broker, who can guide you in making the best insurance choice for your used car. To learn more about this process, visit the Gargash Insurance website today.
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