Vehicle's Insurance |
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Once you have purchased your vehicle, you need to register it under your name at the RAK Police Traffic Department. In order to do so, you have to purchase vehicle insurance policy at one of the insurance companies present in Ras Al Khaimah or in the other emirates. It is advisable to compare the levels of service and specifications of various offers in order to get the best deal and avoid potential problems in the future. Some car features can affect the cost of insurance; these include the year of manufacturing, the model of the car, and the estimated price of the vehicle on the market. In addition, if you have a luxurious sports car, or are less than 25 years old, or more than 70 year of age, you should expect to pay more for the insurance of your car. Before signing the insurance agreement, make sure off–road driving is covered, especially if you are purchasing a 4WD. For the insurance companies and brokers go to the Insurance section.
VEHICLE INSURANCE TYPES
Third Party, Fire and Theft (TPFT) - this is the basic type of insurance and a minimum required by law. In the event of an accident, your insurance will only cover the damage of the second party’s car if you are to blame, but it will not pay for repairs of your car.
Comprehensive- usually, the price level is about 5-7% of the car’s value. It covers damage to your and the second party’s car.
Comprehensive with options - the price level is about 6-10% of the car’s value. It covers damage of both cars and offers extra service like dealer repair, or free insurance in Oman. |
NO-CLAIM BONUS In 2010, it was announced that drivers with a clean traffic record may receive discounts from car insurers. The UAE authorities who try to promote traffic safety support this reward scheme. One year without traffic accidents and black points equals a 20% discount in the premium for insurance. 25% for two years without accidents, 30% for three years and so on.
NOTE: Your insurance will never reimburse accident costs in case you are driving under the influence of alcohol, or driving a privately registered car without a UAE driving licence. |