UAE – Motor insurance pricing manipulated
Monday, 07 31 2017, Category: Insurance and Reinsurance, Country: U.A.E
Insurance companies are manipulating motor insurance pricing by taking advantage from the ignorance of customers about the true effective value of their cars. In fact, insurers offer attractive prices by decreasing the value of the car mentioned in the insurance contract.
Sector specialists confirmed to “Al Roeya” that estimation of the value of cars in the insurance contracts is inaccurate and scientific.
They also said that customers are responsible about these mistakes, clarifying that many customers only look at the price of the contract without identifying the link with the estimated value of the car.