UAE – Insuring imported cars against third parties only
Saturday, 12 03 2016, Category: Insurance and Reinsurance, Country: U.A.E
Managers of brokerage companies said that most insurance companies operating in the local market are refusing to offer comprehensive insurance coverage for imported cars indicating that companies only offer “Third Party Insurance” as they will only cover the damages affecting third parties affected by accidents.
They mentioned to “Emarat Al Youm” that these procedures are meant to prevent the problems related to imported cars, which are unique and very expensive. The spare parts for such cars are difficult to find in the local market. Additionally, there is lack of information on the accident history for these cars.
In detail, the sales manager at “Fidelity” for insurance services, Mr. Adna Elias said “most insurance companies operating in the local market refuse to offer comprehensive insurance for imported cars” indicating that “companies only accept cover third party insurance”.
Source: Emarat Al Youm