subject: 10 insider tips to choosing insurance [print this page] 10 insider tips to choosing insurance
Buying insurance can be puzzling for the uninitiated and sometimes even misleading. Consider these 10 insider tips when choosing insurance policies and you will be confident that you have the right cover and are well shielded in the unlikely event of a claim.
Buy directly from an insurer and save at least 5% on the cost of your policy. Specialist insurance companies make it easy for you to work directly with them instead of buying through a broker. There are global insurers in the UAE that provide this service.
Choose a well-established and reliable insurer who is an expert in the field; generally indicated by the number of years the insurer has been in the market and who has a full range services so that you can have all your insurance under one roof. Managing your finances and your insurances can be time consuming, so to have a one-stop-shop for your insurance needs makes sense.
Research the insurers' claims procedure. Understand the process to be followed in the event that you have to make a claim. This is where you will be grateful you chose an insurer with a good reputation and a track record of paying out claims, on time and in full. Remember, a strong and internationally reputed insurer is a good claims payer.
Choose an insurer that allows you to sign up for policies online. No more making appointments in advance and losing time traveling; buy your insurance and process claims in the comfort of your space. International insurers in Dubai provide tech savvy and user friendly online interfaces which allow you to generate a quote in seconds and purchase a policy in minutes!
Check their responsiveness and efficiency in handling queries related to your policy. Most reliable companies provide professional call centre support with experienced agents equipped with the expertise to deal with queries quickly and with efficacy, both by telephone and email. Their follow up is prompt and all detailed information regarding purchase or procedures is made available readily.
Read the fine print. All insurance policies have rules; many have deductibles (excess) that is applied in case of a claim. This is especially relevant in motor insurance and to avoid the possibility of a claim not being accepted, be sure you understand how this is applied.
Study the exclusions to your policy. Travel insurance and personal cover both have many stated exclusions, e.g. many dangerous leisure pursuits are not covered. Refer to your policy to be sure you are covered for the eventuality that you expect to be covered for.
Make sure you are insured for the full value of your possessions. Your household contents must be insured for the total current replacement cost of all such items in your home. Find out if you need to declare any high value items.
Negotiate with your insurer and investigate any no claims discounts. Many top insurance companies provide benefits and discounts for those who do not have a claims history.
Understand the insurance company's cancellation policy. It may happen that you have to cancel a policy due to change of circumstances, find out how this works. A good insurer will be able to tell you about this process before you need it.
These 10 insider tips when choosing insurance polices should assist you to find a reliable and trustworthy insurance company in the UAE.
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