Dubai: Motorists in the UAE are paying around 15 per cent more on Vehicle Insurance premium compared to last year since January this year, but many of them feel they are not getting back value for the additional money they are paying.

Premiums for both third party and comprehensive insurance for all categories of vehicles were increased after the UAE Insurance Authority revised the unified auto insurance regulations with effect from January.

Apart from a hike in tariff, the amendment to the auto insurance regulations also introduced upper and lower limits to premiums, with the minimum comprehensive insurance premiums restricted to Dh1,300 for saloon cars and Dh2,000 for SUVs, while the maximum cap is at five per cent and seven per cent of the insured value of the vehicles for saloon cars and SUVs, respectively.

Post from Gulf News