End of the Year Insurance Checklist - Things you Need to Look at

Car insurance in the UAE and numerous other countries are mandatory. Driving around without automobile insurance is a violation of the law. The authorities can impound your car and/or issue black points on your license. Apart from this, you can expect a hefty fine and, in some cases, a jail term. Therefore, instead of playing around, get car insurance right away.

In some instances, individuals are driving around with expired car insurance. In simple terms, they had opted for car insurance, but now its period has expired. In other words, they no longer have car insurance either. The best insurance provider in the UAE and other countries usually inform the policyholder about their expiring policy.

Many others extend the policy by an additional month to save the policyholder from unnecessary hassle. However, the extension is solely based on the discretion of the insurance provider. Such features are usually reserved for loyal customers. Now, with the end of 2020 just a few days away, individuals must pay attention to other aspects of life apart from the celebrations.

One aspect which demands the most attention is car insurance. Therefore, in this article, I will the numerous car insurance-related things that one must focus on at the end of the year.

Insurance Validity

Your insurance might be expiring at the end of the year or the start of the new year. Many people keep driving around oblivious of the fact that their insurance has expired. Do not be like those individuals and check your insurance documents right away. If it is near expiration, renew right away. As mentioned earlier, the best insurance provider in the UAE and other countries usually extend insurance by one month. But do not take the risk and renew before expiration.

Focus on the Vehicle

Whether your vehicle is brand new or old, please pay attention to it. Make an appointment with your insurance provider and get the required work done. After all, you are paying the insurance provider precisely for these services. Whether it is a small fender bender or a fading paint job, get the repair and maintenance work done right away. If there is nothing wrong with the vehicle, get it thoroughly checked. It might reveal issues that were previously unidentified.

Pay Outstanding Fines

If there are any outstanding fines against you, pay them right away. Why? Well, outstanding fines are an unnecessary blot on your financial profile and credit score. Auto insurance companies in UAE and numerous other countries rely on an individual’s credit score while determining the premium. Therefore, unpaid fines reflect poorly on your credit score. A poor credit score will, in turn, increase your premium.

Talk to your Insurance Provider

Most insurance companies offer exciting new deals at the end or start of a year. Talk to your company and see if they are offering any such deals. You might end up getting a better deal. Similarly, ask for discounts before renewal or check if you automatically qualify for any discounts such as ‘No Claims Discount’.

Look Towards Competitors

If your auto insurance provider is not offering any deals, look towards other insurance companies. Nowadays, you can buy car insurance online in the UAE and other countries. So, do a quick Google search and see if other companies are offering better deals. If they are, cancel your existing policy and sign up with them immediately.

Wrap Up

This concludes our article. We are confident that you found the article exciting and informative. We request you to pay attention to the insurance and ask others to do the same. Thank You and Happy New Year.