In fact, there are many providers of auto insurance services and products with a wide range of insurance policy options, but how many of us devote part of our time to researching and checking a set of insurance options before deciding on one of them? And most importantly – how many of us spend some time understanding the terms of the insurance policy before and during the purchase process.
The terms of the insurance policy, including its various features, exclusions, terms and conditions, are of great importance, and in the event that the policyholder is not aware of these things, this may lead to major problems, such as rejection of the insurance claim or worse, invalidation of your policy. For this reason, it is always a good idea to review the entire document sheets including all printed attachments before making your decision.
In this article, we will discuss the factors that are included in the terms of an insurance policy and how they affect its benefits.
- Deduction / discount rate
Whether you choose an insurance policy with a high or low discount rate, or the policy does not include it at all. This is also an important decision that you will have to make. It is important to recognize that sometimes, the lower the premium, the higher the discount rate. As a result, the higher the discount rate, the higher the outlay you incur when claiming. So when registering for car insurance cover, make sure you are aware of the exact rate of deduction and whether or not it is right for you.
- Off-road coverage
If you are the type who loves adventure and enjoy driving in rough terrain, be sure to choose a bonus feature that covers your off-road adventures. And not only that, be sure to also check out the benefits mentioned under this off-road coverage. There are insurance policies that combine this coverage with a certain distance from the paved road.
- Covering the damages of natural disasters
One of the main factors that make a comprehensive insurance policy superior to third-party policies is that your vehicle is insured against a range of different damages. If you are interested in obtaining cover against damage that may occur as a result of a natural disaster such as dust storms and floods, make sure that coverage is comprehensive for such natural disasters. Don’t assume all documents automatically cover this – you should check this with your service provider.
You can easily and conveniently visit our website Souq Al Mal.com and compare a wide range of car insurance policies in the Kingdom of Bahrain. We not only provide you with the choice of the document that best suits your financial ability, but also you can choose the additional covers that you will need, in order to ensure that you get the document that meets your actual needs.
- Car evaluation
When you apply for your car insurance quote, you will be asked to submit an evaluation of your car. Although insurance providers have the ability to discover the value of the car, you will usually be provided with an estimated value ranging from minimum to maximum, and you can choose the value of the car from within this range. Many car owners ignore this beneficial feature and go with the value the insurer provides. However, this is especially harmful when insuring a car and is more expensive, as the value of the car may be lower.