So you are thinking about getting a good insurance policy from one of the best car insurance companies in Dubai. Before making your purchase, you will be faced with various myths that can negatively impact your decision. The most common myths about car insurance are:
- Myth: Speeding ticket will increase the premium rate.
Fact: in most cases, on buying a policy from any of the car insurance companies in Dubai, the policy rates won’t rise after just one speeding ticket. So you need not worry if it’s your first speeding mistake. But be careful for the next time.
- Myth: Items I bought last year on credit won’t affect my car insurance.
Fact: since your credit score is an indication of how well you manage your financial matters, many companies use it for determining not only if you qualify for insurance but also what you will pay.
- Myth: My insurance company will pay for the belongings stolen from my car.
Fact: personal belongings such as cell phones, cd’s, laptops and presents are not covered under an auto insurance policy. It might be covered under homeowners or renters insurance policy for which separate claim has to be made.
- Myth: I don’t have car insurance for the last two years, this won’t affect my rates.
Fact: not having car insurance might actually be an expense until you provide a valid reason such as you took the bus or were in the military.
- Myth: it costs more to insure an expensive car.
Fact: cheaper cars may not lower insurance rates. These rates depend on various factors one of them being the cost of replacement parts. So if you bought a cheap car having expensive parts, the insurance is likely to cost higher.
- Myth: I just cracked my friends car will it be covered in my insurance policy?
Fact: your insurance company will not pay until your friend’s policy covers the damage as well. Your company will only pay after your friends deductibles are exhausted completely.
- Myth: my insurance company will never know if I lie about something on my application.
Fact: the insurers have developed various ways to uncover things that are often misrepresented or omitted entirely on the application. This might land you with no coverage when you need it the most.
PIBCO is a leading insurance company in Dubai, which also offers the best car insurance policies for your vehicle.