Policybazaar.ae and Salama Insurance Collaborate to Launch Car Insurance for Non-GCC Spec Cars – News
Policybazaar.ae and Islamic Arab Insurance Company (SALAMA) have partnered to launch a comprehensive online insurance plan for non-GCC spec cars.
This strategic alliance between the UAE’s fastest growing online insurance and finance market and the UAE’s largest Shariah-compliant solution provider Takaful will exclusively offer fast comprehensive auto insurance and practical for imported cars with a wide range of advantages. With the launch of this unique product, customers can even insure their luxury cars online from the comfort of their home or office.
Insuring cars that did not meet GCC specifications was riskier for auto insurers because they were not designed for Gulf conditions. The only option available was to purchase liability insurance, which resulted in a long wait time for a quote.
With the exclusive launch of this product only on Policybazaar.ae, import car buyers can now get an instant quote and drive their luxury cars hassle-free. With a minimum premium starting from Dh910 for a sedan and Dh1400 for an SUV/coupe/pick-up, owners/buyers (excluding VAT) can now enjoy comprehensive car insurance cover. This insurance cover includes a variety of additional benefits such as free roadside assistance, claims settlement by a reliable Takaful insurer, garage repairs and rental car insurance.
Neeraj Gupta, CEO of Policybazaar.ae, said, “We are thrilled to launch this first-of-its-kind product in partnership with SALAMA. Customers in the region can get an instant quote for comprehensive insurance for their non-GCC spec vehicles at Policybazaar.ae. Non-GCC vehicles do not have the same specifications – engine/radiator cooling, air conditioning/rust protection and are most likely to have problems in UAE climatic conditions. Therefore, taking out comprehensive insurance protects the vehicle owner against financial loss caused by accidental/mechanical damage to the insured vehicle.”
He added: “Around 10% of searches on Policybazaar.ae are for cars with non-GCC specifications, and we are grateful to SALAMA for being able to build this product and launch it quickly with us. For reassurance, Munich Re, the world’s leading reinsurance provider, would help owners of non-GCC compliant cars renew their comprehensive car insurance.
Fahim Al Shehhi, CEO of SALAMA, said: “Partnering with Policybazaar.ae is in line with our commitment to provide a seamless and fast online insurance experience to all of our customers, especially owners of off-spec vehicles. from the GCC who have not had access to comprehensive car insurance coverage in the past. This is a great example of how we work together to solve an existing problem and ensure reliable Takaful solutions are accessible to all consumers.