Owning a car is every person’s dream. A car is a major investment and hence, any decision with regard to buying one calls for prudence. When you buy a car, one of your first instincts is to save it from any sort of damage. From taking care that it doesn’t even get a scratch to buying insurance, you exercise caution at every step. But how should you decide which insurance cover is best suited for your car?
Firstly, you should know your options. There are two kinds of motor insurances, third party motor insurance and comprehensive motor insurance. The difference between the two is that, while a third party motor insurance covers only the damages caused to another’s vehicle and its passengers due to your mistake, a comprehensive motor insurance covers everything. Under third party insurance your vehicle is not covered, whereas in comprehensive motor insurance, both the third party vehicle and your vehicle are covered. It covers for the injuries caused to the passengers of both vehicles. This cover also includes any damages to your vehicle in case of unfortunate events such as thefts, fires, and natural calamities among others.
While both kinds of motor insurances, third party and comprehensive, have their own sets of advantages and disadvantages; you should ultimately go with the latter, especially if you live in Dubai. Even though a comprehensive motor insurance is more expensive than a third party insurance, it covers a greater number of damages, lowering the risk of your purchase. A third party insurance is suitable only when your vehicle is of low value and the cost of its repair, in case of any future damage, is less than the premiums of comprehensive insurance.
It is absolutely necessary for you as a car owner, to have motor insurance in the UAE. As far as car insurance in Dubai is concerned, the minimum requirement by law is to buy third party insurance. But as statistics show that accidents in Dubai are more frequent than most other places, it is best to choose the comprehensive cover. Although not mandatory, the comprehensive insurance policy, which covers every single damage caused to you, your car, and the other party involved, is highly recommended in Dubai.
It is of paramount importance that you choose the best insurance policy for your vehicle, while keeping its value in mind. Besides material worth, there are precious lives involved. So, go ahead and exercise a safe choice with comprehensive car insurance policy.