Why all Vehicle Owners Must Opt for Car Insurance

Friday, May 31, 2013, 1:00 AM | 3 Comments

For most car owners in general their vehicle is a source of pride and love. It is an asset and possession that one must take care of in order to keep it up and running in prime working condition. We make sure the engine works fine, the oil is filled, the tank is full of fuel, the tires are at optimum fullness and the interiors are clean and sparkling; so why do so many car owners not do the most basic and important job of them all – purchase car insurance.

We all seek to insure our other expensive assets and possessions like our home or jewellery for example, and yet many first time car owners either let their car insurance slide or opt for something sub standard just because it may have been a cheaper option at the time.

This sort of attitude results in major expenses and an immense amount of financial drain in case of an emergency and/or accident. When faced with a disaster, it is horrible to find yourself stranded or unable to take care of the demands or expenses.

If you are still debating whether to get motor insurance in UAE or any country you reside in, let’s take a look at why this should be an easy decision for you:-

  • Firstly, and very importantly, most places have made car insurance a mandatory cover by law. It is against the law in many parts of the world to take your car out on the roads without having a car insurance policy and flouting of this rule can lead to dire consequences. If this is the case for the country you reside in make sure you know what the rules are and follow the same without question.

    Also in some cases many car rentals, lease companies and lenders have a stipulation that the driver must possess car insurance before they let them take their vehicles out on the road.

  • Secondly, you will need car or motor insurance to protect yourself from financial liabilities in a time of trouble. You will find policies that will help pay for damages to the car in case of accidents, thefts, as well as natural disasters like fires, floods and earthquakes and the like.

    There are also car insurance coverage options that protect against financial loss due to injury or death of the driver as well as other passengers.

  • Thirdly, consider a scenario wherein you are in an accident or have property damage caused by another driver and he does not have adequate insurance or any at all. You will be left footing a bill that can be gigantic. Instead you could opt for an insurance plan that also provides coverage against uninsured or under-insured drivers.

  • Sometimes knowing you are insured and that the insurance company will be keeping a tab on your driving records makes you a little more cautious and safer behind the wheel. Insurance firms usually check to see what your driving history has been as well as whether you have had insurance in the past when giving you a price quote.

A good car insurance policy could be that one simple step between you and possible financial ruin. Cars do not come cheap and neither does repairing them. Take the necessary legal and financial precautions that are not only often mandatory but also plain old good sense!

Author’s BIO

Jonathan Rego is an insurance agent in Dubai and deals with home and motor insurance in UAE. He has been in the industry for 11 years and is still surprised that so many people hesitate to protect themselves financially. He also blogs and writes regularly for industry journals.

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  1. 3 Responses to “Why all Vehicle Owners Must Opt for Car Insurance”

  2. By Raymond D'Silva on Jul 2, 2013, 2:45 am | Reply

    Good article for all those who are first time car owners or are still to know the benefits of having a car insurance. You never know when your new brand vehicle might witness a natural accident or road accident and you find yourself in financial trouble and cannot get your car repaired. Motor insurance will be your life line that will offer you the financial support to overcome the additional expenses.

    These days it is easy to get motor insurance as most banks offer them. You can also get a quote by logging in online to some of the helpful insurance portals and get the insurance policy which suits your needs to best.

  3. By Jayson Mclaughlin on Jul 2, 2013, 11:51 pm | Reply

    Thanks Jonathon. I can relate to this article as I had a car accident recently. I was driving on the exoress way while moving back to my city. We were moving at the designated speed limits and had our car lights on with the indicators which are to be left on during the night to advise other car drivers that we are on the road. A SUV which was being driven by teenagers came and banged us very badly. Luckily we were all safe as we had our worn seat belts but my car was severely damaged. I went to the police station immediately and took the car in for repairs. The garage wrote me a huge bill for the damages which i would have not been able to pay so soon if it was not for my motor insurance in UAE.

  4. By Charlie Brown on Jul 26, 2013, 1:49 am | Reply

    Very true, every person should own a motor insurance in UAE and everywhere else in the world.

    In today’s day the amount of accidents which happen due to car accidents have increased exponentially.

    I was in Dubai for over 5 years and learned about the rules of driving and about maintenance of insurance for almost everything. What everyone needs to do is ask yourself what you really need, then find out what companies are offering. One of the ways insurance companies differentiate themselves is through the “”extras”” they offer, such as 24-hour claim service, first accident forgiveness, disappearing deductibles, and claim service guarantees.

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