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Discussion Starter · #1 ·
Hello,

Car Insurance:
I am currently paying 2.65% (of my car value, its a new car) as annual insurance (coverage amount aed5M) with a deductible of aed500.

1. Am I paying too much? If Yes, please suggest insurance providers
2. What is the industry standard depreciation rate?
3. Should I expect the same rate for insurance renewal, i.e. 2.65% (after 1 year depreciation)? What is the standard in Dubai?

Health Insurance:
I am self-employed and have to get my own insurance. I came across:
Health Insurance

I have been told that lot of self-employeds get the coverage by joining the group insurance of large corporates (i.e. Al-Futtaim, etc). This gives better/bigger coverage with a lower premium. Any idea on how to go about it?

Thanks
Debbie
 

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Hello,

Car Insurance:
I am currently paying 2.65% (of my car value, its a new car) as annual insurance (coverage amount aed5M) with a deductible of aed500.

1. Am I paying too much? If Yes, please suggest insurance providers
2. What is the industry standard depreciation rate?
3. Should I expect the same rate for insurance renewal, i.e. 2.65% (after 1 year depreciation)? What is the standard in Dubai?
I think 2.65% is fairly market standard (obviously the exact number depends on a number of parameters). As a data point, I pay 5% as my insurance, but (a) I have a cheap car, (b) it is 5 years old, (c) I just take the insurance from the broker with the offices behind the RTA office in Al barsha - If i shop around I am sure I can get a better deal.

Standard depreciation rate used is 15%. If there have been no claims, I think you can expect a better rate (and call around for a better rate).
 
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