Have You Checked The Small Print In Your Car Insurance Policy?

Ambareen Musa, founder and CEO of comparison site souqalmal.com, delves into the finer details of car insurance policies

WHILE CAR INSURANCE advertisements may be plastered in big bold letters all over newspapers, billboards or online, the quintessential details – terms, conditions, exclusions – are often in the small print. In fact, understanding the fine print of your car insurance policy can make all the difference between your claim getting accepted or rejected.

Crucial details that affect your insurance payout may sometimes be difficult to spot if you don’t run a fine-tooth comb through your policy document. We shed light on some lesser-known facts about your car insurance policy and how ignoring them could cost you dearly.

Landed a cheap car insurance plan – what about the deductible? 

Your deductible or excess is the fixed amount or percentage of the expense you have to pay out of your pocket at the time of making a claim. The higher the deductible, the lower will be your insurance premium and vice versa. Watch out for advertisements promoting low car insurance premiums – there could be a high deductible applicable.