Car Insurance Calculator in Dubai & UAE

The importance of car insurance is well-known to every car owner. Not just important but it is also mandatory to have car insurance in the UAE. Without valid insurance, it is illegal to drive a vehicle in the UAE. The first-time car buyers should pay attention to the insurance as other major things like car registration will be assisted by the car dealer itself. 

There are many car insurance companies in the market and each company offers different plans with multiple add-ons. Picking the right car insurance that fits the requirement of the car owner is essential. The process of choosing the right car insurance depends on the knowledge the insurance buyer has. The insurance buyer, that is the car owner must understand the basics of the insurance, how it works and what is required for the vehicle.   

In general, there are two types of car insurance provided in the UAE - Comprehensive Car Insurance & Third-Party Car Insurance. 

Comprehensive Car Insurance - This provides coverage on damages caused to your vehicle during accidents, theft, fire.  

Third-Party Car Insurance - This provides coverage on damages caused to other vehicles and passengers by your insured vehicle.  

Understanding what kind of car insurance is important as a step in buying car insurance in the UAE. 

How does Car Insurance in Dubai & UAE work?

The working of car insurance is simple. The car owner needs to search for the best car insurance policy that suits the requirements of his vehicle. The insurer would set a price for the vehicle which would be provided at the time of coverage. The car owner needs to pay a premium to get the car insured. 

The premium value of car insurance depends on several factors like car value, make, model, area of residence, and much more. Apart from the vehicle details, the car insurance premium also takes the driver’s driving history into consideration while calculating the premium value. Car owners can use a car insurance calculator to calculate the premium value easily in less than 5 minutes. 

How to use a Car Insurance Calculator in Dubai & UAE?

The usage of the Car Insurance Calculator is to calculate your premium value and it is effortless on MyMoneySouq. It involves 3 simple steps, 

• Enter the vehicle details - brand of the vehicle, model, year of registration, place of registration, no claim bonus on the previous policies (if any), value of the car  
• Enter the details of the car owner - driving license date, name, email id, phone number
• Enter the OTP that you receive on your email address 

Your premium value for your vehicle will be calculated. You can also compare the premium value provided by different insurance providers in the UAE 

Benefits of Car Insurance Calculator

Apart from getting the insurance premium value of the car, the benefits of a car insurance calculator in the UAE are, 

• Quick premium value calculation - Can get the premium value easily in less than 5 mins by entering the basic details of the vehicle and insurance buyer 
• List of Insurance providers - Can also get the list of insurance providers offering coverage for your car 
• Quick Comparison - Compare the policy coverage provided by different insurance providers in the market easily in one place 
• Estimated premium rate - Get an estimated insurance rate for your car according to the market trends 
• Buy the policy online - Can purchase the car insurance from the premium calculated itself instantly and get the policy documents online   

Factors that impact your Car Insurance Calculation

The car insurance coverage and the premium value is not the same at all the providers. There are several factors that are determined for car insurance calculation. The car insurance calculator in Dubai requires very basic details regarding your vehicle but these details need to be right to calculate the approximate premium value. Factors that impact are, 

• Make and Model of the Car - The make and model of the car is the first factor that is determined in the car insurance calculation. The premium value for the sports car is different from a luxury car or a regular one. 
• Age of the car - The older the car is, the higher the premium vehicle can be. Given the age of the vehicle, the insurance providers consider it as a risky customer and determine the premium value. 
• Age of the driver - Insurance providers also consider the age of the owner while selling the policy. Certain age groups like 18 - 25 and more than 55 are considered a bit high-risk drivers compared to other age groups and are served with high premium rates. 
• Driving history of the driver - The driving history of the driver is also taken into consideration. If there are any accidents recorded previously on the license, then the insurance premium will be a bit high 
• Previous Policy Claims - The calculator also considered the previous insurance claims on the car. The premium will be less if there are no insurance claims made in the previous years.  
• Location - The location of the vehicle owner is also a considerable factor. For example, if the area is known for high theft rates then the insurance provider takes it as a high-risk customer.  
• Add-Ons - If you add any additional protection to your vehicle even that changes your car insurance premium rates. However, add-ons are not considered by the car insurance calculator as the car insurance calculator in UAE determines the basic insurance premium value of the vehicle.