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What Types Of Insurance Are There In Dubai?

Why Rent A Car in Dubai?

For residents who live permanently in the UAE and for tourists, having their own car makes life much easier. And in any case, the presence of one’s own wheels adds mobility and independence from the bus and metro schedule.

From a legal point of view, it is very important that the drivers know their legal rights and obligations so that when faced with an accident, they can protect their rights.

What Do You Need To Know While Renting A Car?

One of the main conditions of renting a car is that it is not legal to have a vehicle without insuring it first. You can check out all the information regarding renting a car in Dubai here

The UAE insurance market is recognized as the largest among the Gulf Cooperation Council countries. Currently, there are about 60 insurance companies operating in the country: 35 local, 25 international. In addition, insurance services are provided by brokers, agents and consultants. The UAE insurance market is growing rapidly, expanding by 12% in 2017, but the use of insurance services among the population remains low compared to many OECD countries.

Medical and auto insurance are the largest branches in the state insurance system. Most of the local insurers are cooperatives that offer Sharia-based insurance, known as takafur. The insurance regulator in the UAE is the Insurance Authority supervision. In addition, there are the Dubai Financial Services Authority and the Abu Dhabi Global Market, which regulate the insurance industry locally. The health department in Dubai and Abu Dhabi also oversees health insurance in these cities. Most insurance companies in the UAE are members of the Emirates Insurance Association.

Compulsory insurance in the UAE

A person driving a vehicle in the UAE must have liability insurance for the owner of a source of increased danger, providing compensation for any damage caused to third parties or their property. Also, the owner of the vehicle can buy a comprehensive car insurance package, which covers all accidents (including those that occurred through the fault of the insured), damage and theft of the vehicle. Additional options include risks such as emergency medical care in case of an accident, compensation for damages not related to traffic accidents and roadside assistance.

UAE insurance companies offer the accident-free bonus, according to which the amount of insurance premiums depends on the period during which the insured did not get into an accident. The longer this period, the lower the cost of auto insurance policy.

paddockrentacar is willing to help you and assist, if you need any guidance while renting a car and getting insurance.

The amount of insurance premiums also depends on:

– the type of one’s vehicle

– the level of insurance coverage

– the driving history of the insured

Nowadays, the average annual cost of car insurance in the UAE for the main types of cars ranges from 1,528 to 1,983 dirhams (about 415-540 US dollars).

Getting Medical Insurance In Dubai

When renting a car, you might also want to look into medical insurance. In the UAE, health insurance is compulsory for all residents, but private health insurance can be obtained on a voluntary basis in any other city in the country.

In Dubai and Abu Dhabi, employers usually provide their employees with health insurance, which includes basic medical care from a general practitioner as well as inpatient treatment. Specialized medical care, dental and ophthalmological services are not included in the standard insurance package. If it is necessary to include additional medical services in the policy, insurance prices for premium packages may be increased.

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