Lower motor insurance rates in the UAE

motor insuranceA large majority of Emirati insurers (90%) decided to reduce their motor insurance rates. It is mainly the fierce competition between insurance companies that causes such premium decrease.

This year, motor insurance rates down by 40% compared to early 2020, have reached their lowest level since 2017. Insurance experts expect such a decrease to carry on until the end of the year.

Sports cars owners, new drivers and individuals under the age of 25 also benefit from low motor insurance rates.

Read also | Digitization of motor insurance in the UAE

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