What is Multi-Car Insurance in UAE?

Having car insurance coverage is mandatory in the UAE. Irrespective of the reasons you forgot to renew your car insurance, there are penalties levied for driving an uninsured car. When you have more than one car at home it can be complicated to remember all the car insurance renewal dates, though the process of car insurance renewal in the UAE is simple and hassle-free. Addressing this, the car insurance providers offer Multi-Car Insurance designed especially for people with more than one car. 

As the name suggests, Multi-Car Insurance is, you can get single car insurance for all the cars in your household. If you have more than one car at home, instead of getting car insurance for each car, you can get multi-car insurance for all your cars. In simple terms, one single policy provides coverage for all your vehicles. In some regions, Multi-Trip Car Insurance is also known as Motor Floater Policy. 

Working of Multi-Car Insurance in UAE

The working of Multi-Car Insurance is simple. The buyer needs to get the insurance that suits the requirements of all the cars. You can include the cars owned by you and your immediate family members. The car insurance provider considers all the details of the drivers includes that age, driving records, accident history check, etc. Combinedly an insurance quote is provided for the included vehicles. The provider may take an inspection of the vehicles before deciding on the quote. Once everything is considered, the quote is provided and the buyer can go ahead with the multi-car insurance policy.  

As there are more than one vehicle to be insured, the vehicle with high insured value is considered the primary vehicle and the rest all are secondary vehicles.

Advantages of Multi-Car Insurance Policy

There are a good number of advantages of Multi-Car Insurance like, 

• Decent Savings - When you are insuring multiple vehicles from the same provider, there can be a good number of discounts provided by the insurance company. 
• Less documentation - There won’t be multiple documents to look into and manage. In a multi-car insurance policy, you just have to fill the documentation only once similar to a single policy. 
• The policy date of all the cars is on the same day 
• Can avail No-Claim Bonus for each car individually 
• Can customise the policy coverage according to your requirements 

Limitations of Multi-Car Insurance Policy

Though there are a good number of benefits to the multi-car insurance policy, there are a few limitations as well that you need to be aware of. 

• High-Risk Drivers - When there are high-risk drivers in your policy there are chances for your premium value to increase 
• Financial Burden - Though you are paying for multiple cars insurance at a less rate, you have to pay a huge amount at the same time whereas while buying a single policy for each car you will pay premiums at different times and will not feel the financial pressure at once.