Will the driver's age impact the Car insurance Premium in UAE?

In the UAE, insurance companies will consider many different factors while deciding the car insurance premium amounts. The factors such as car’s age, market value, age of the driver, location, driving history and other factors. 

Among all the factors the age of the driver is a factor that plays a significant role in finding the insurance prices of the car. It is interesting to know that old age drivers will have less car insurance premium amounts when compared to young drivers. 

This is because aged drivers have good driving skills and are risk-averse compared to the young drivers who are risk-driven. Here in this article, we discuss how the age of the driver will affect car insurance premiums in the UAE.

Driver’s Age and Car Insurance Premiums

The drivers who are 24 years and below that age are supposed to pay higher insurance premiums. The lack of experience is a risk that will make the insurance company charge a higher insurance premium. The insurance premium amount will start to reduce after the age of 25 years. 

The least insurance premium amount is for the old age people from the age of 50 years. For all those who are above the age of 50 years insurance is comparatively lesser because of lower risk. 

There is also an observation statistically that young people drive cars rudely and tend to get involved in road accidents. This is the reason that insurance companies check the driving history and calculate the insurance premium amounts. 

Based on the driving performance observation, if the young driver has a clean record without accidents, always follows traffic rules through a certain period of time initially then their insurance premium amounts in the following years will get reduced. 

Young drivers obtain an insurance policy and once they cross their 25 years of age they can request the insurance company to reduce the car insurance payable amount. The best insurance companies offer good rebates after the young driver turns 25 years of age. 

Low Car Insurance for young drivers

To find a low vehicle insurance plan for the young drivers who are 25 years and below you can do the following. 

• Find out your insurance requirements

Prior to looking for an insurance plan, you should understand what you want to cover under your insurance. Some drivers decide to take comprehensive car insurance for covering their own car expenses and third party vehicle damages. Some drivers may tend to take third party car insurance and they will pay for the damages from their pocket. 

• Research

Making good research is very important in finding out the best type of insurance plan for you. Do research on different insurance companies in the UAE to find out what are the offers provided. Internet research will provide you with an idea of what you can get from the insurance company. 

If you are not clear about what to choose then you can visit Car Insurance in UAE and give your details. You will get a list of insurance plans that are suitable for you. 

In your basic research take into consideration all the aspects that insurance companies consider while finding out insurance rates. This is important to check if you are meeting eligibility criteria. The other thing that is important to look at is the claim settlement ratio. It is significant to find out how insurance companies deal with claim settlements. 

• Find the right insurance

It is advised to choose the right plan, a comprehensive car insurance plan. It is that insurance plan which covers both the third party damages and the comprehensive plan. If you choose the right plan then you can avoid spending your savings account money. This plan will cover all the hospital expenses in case of unforeseen events. 

• Compare and finalize

After doing the basic research both online and offline you have to short-list insurance plans. Once you have the data on hand, compare their benefits and features. On making the right comparison you can finalize the best car insurance in the UAE. As per your budget, you choose your plan and finalize your car insurance. 

Takeaway

Having a clear driving history is important for many reasons. Good driving behaviour will always help those on the roads. It will always be rewarded and you can save a lot of your money on insurance premiums. If a policyholder has not reported any claim during the whole year then the insurance company will give them no claim bonus. Have a good understanding of the car insurance policies, stay informed about the insurance development and select the right insurance policy.