Cars World Tech

𝗬𝗼𝘂 𝗺𝗮𝘆 𝗯𝗲 𝗲𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗳𝗼𝗿 𝗮 𝗡𝗼-𝗖𝗹𝗮𝗶𝗺 𝗕𝗼𝗻𝘂𝘀 𝗼𝗻 𝘆𝗼𝘂𝗿 𝗺𝗼𝘁𝗼𝗿 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲

By Neeraj Gupta, CEO, policybazaar.ae

If you have a record of driving safely in the UAE you may be eligible for a No-Claim Bonus (NCB) discount of 10 to 50% when renewing your motor insurance premium.

All motor insurance companies in the UAE offer a NCB discount, whereby motor insurance policyholders are rewarded for not making any motor insurance-related claim in the preceding year or years.

As per the UAE Insurance Authority, a motor insurance policyholder who has not made any motor insurance claim for one to three years is eligible for a discount of between 10 and 20% when renewing their motor insurance policy.

Drivers with a clean record for one year would receive a 10% reduction on their premium while drivers with a clean two years can avail a 15% discount and those with three clean years can receive a 20% discount.

Additionally, if you have an excellent safe driving record, some motor insurance companies in the UAE may provide you up to 50% NCB discount, considering your age, profession, and driving history, among other factors. First-time motor insurance buyers in the UAE are not entitled to a NCB discount.

There are certain other nuances about NCB that every motor insurance policyholder must know.

In the event where the insured vehicle breaks down due to a minor mechanical/electrical fault industry experts recommend there is no hard and fast rule for filing a claim for minor repairs. It would be smart if you compare the cost of minor repairs and the NCB impact on the premium. If the minor claim’s cost is more than the NCB, then you may prefer to avail the claim otherwise prefer claim-free record in such a case.

People often misunderstand NCB. They feel this bonus belongs to the vehicle rather than the policyholder, while its true vice-versa.

Therefore, if you are a safe driver you can benefit from the accumulated NCB which is transferable whenever you buy a new motor insurance policy for a new vehicle. The NCB credits can also be transferred to a new insurer from the existing one. This bonus is offered even in case of switching from one insurer to another.

In order to make the best use of the NCB, it is crucial that you renew your motor insurance policy on time, and not let it lapse.

Earlier, motor insurance companies used to charge a nominal fee from their customers to purchase a NCB discount certificate. This has been done away with and insurers must provide the certificate free of cost. An existing no-claim discount can be applied to the policyholder’s second vehicle as well if the main driver remains the same.

Toyota presents the exclusive unveiling of a 1:1 Toyota legend, made of LEGO bricks, as well as a few behind-the-scenes to know what went into the making.

It took 2,688 hours to recreate this life-size product.

When: Monday, November 15, 2021
Time: 7pm
Where: Dubai Mall (Reel Cinemas Area, 2nd floor)