Buying a car is an important decision, which needs to be accompanied by purchasing a car insurance in Abu Dhabi. Owning a car insurance policy is mandated by law, making it a crucial selection. There are two types of car insurance plans in Abu Dhabi – Third Party Car Insurance and Comprehensive Car Insurance. Third Party Insurance is the mandatory policy which covers damages caused by your vehicle to a third person, vehicle, or property. On the other hand, Comprehensive Car Insurance is optional, but it covers damages caused to you and your vehicle and the other vehicle and person in case of car accidentsIt also covers damages caused to your vehicles by theft, natural disasters etc.
Choosing a car insurance policy fit for your needs is often a long and tedious process, which is why working with an insurance broker is extremely convenient. To give you a better idea of how an insurance broker benefits your insurance journey we have compiled a guide of what they do and how they work.
What Is An Insurance Broker
An insurance broker is an intermediary between insurers and customers that offers insurance broking and risk management services to their customers. They generally help individuals and companies to get the right insurance for their needs.. Insurance brokers stay on top of changes in clause, plans, and overall trends of the industry, this expertise allows them to offer helpful and relevant advice to their customers
Need For Insurance Broker
The terms and conditions of all insurance types, including car insurance can seem complex and confusing. Insurance brokers can leverage their expertise, understand the personal requirements of their customers and find the best policy amongst In our busy everyday lives, we may miss out on changes made in policies, rules and regulations. But your insurance broker will always be updated on these, and will ensure you are aware of the changes too. Thus, insurance brokers play a crucial role in determining the right policy for your requirements, so you are supported in your time of need.
Roles And Responsibilities Of An Insurance Broker
An insurance broker carries out a number of duties for their client. These include:
- Understanding your insurance coverage requirements
- Exploring the insurance marketplace to find the best policy for your needs
- Giving objective and impartial advice on the insurance plan that fits your needs and your budget
- Helping you understand your policy. This includes a deep dive into the inclusions, exclusions and add ons related to the policy
- Giving you a clear understanding of all the costs included in your insurance plan
- Helping you with paperwork, so there is no delay in processes like registration or claims
- Getting you a rapid and efficient turnaround on filing, processing, and approval of claims
- Acting as an advisor and negotiator with the insurance company on your behalf
Advantages Of Using An Insurance Broker
There are a number of advantages you get when you utilize the services of an insurance broker. These include:
- Objective Assessment of Risks:
Insurance brokers consider all your details and requirements to chart out an insurance plan that keeps risks at bay.
- Unbiased Advice
They are not associated with a single insurance company, and thus offer an unbiased viewpoint.
- Getting Options In Insurance Providers
Insurance brokers are constantly updated with the latest plans in the market from multiple sources. That is why they can give you a better range of options than a single insurance company.
- Policy Comparisons As Per Your Requirements
Insurance brokers make it a point to be well-versed in your needs and the current insurance trends. That is why they can offer an accurate comparison of policies available, so you can make the right choice.
- Cost Savings on Your Premiums
As they are updated on every change in the insurance marketplace, they will know when any special discounts or offers are running to reduce the premium amount you’re paying.
- Claim Assistance
Filing for claims can be a harrowing process, especially if you have been involved in an unprecedented situation. Insurance brokers take this task off your hands and handle it for you.
- Saving Your Time
From carrying out paperwork to get the policy to registering your claims, every part of the process is taken care of by your insurance broker.