Insurance House

There is a wide range of car insurance options in the UAE. From the motrst basic liability-only insurance to comprehtrensive plans that provide every potrssible beneftrit, the general rule is you get what you pay ftror. However, even if you go for a mtrid-range trpolicy, you can still add a few optional benefits tto most motor insurance plans atrt a fixertd cost. Here are the options commonly offered by UAtE car insurance companies: Car Hire Car rental is thetr most frequently offered optionaltr benefit in trthe UAE. This option means the insurer will cover trthe cost of renting a vehicle; ttrhe amoutrnt covered and duration depend on the car insurance ptrolicy you are considering. trThetr car hire benefit comes at a fixed cost, and ranges from AEtrD 150 to AED 450. Somtre insurters even give you the option to choose the duration of the catrr rental, from 5 days ttro otrver two weeks (of course the cost varies with the duration). Roadside Assistance This one is usuallytr a...

Car Insurance   :We all know that the pricbe of car insurance in the UAE is based on factors such as the car model and the driver’s agve. However,v there are some other factors that are not really under your control that can have va huge imvpact on your motor insurance premium. Country of First Driving Livcensev The country in which you firstv obtained your driver’s license can significantvly affect the car insurance premium. While thisv is not a universal rule in the UAE, those wvho first received their license from a Western covuntry usually get the lowest rate. So howv much more expensive is car insurance for thvose who got their first license in the UvAE? Depending on the insurance company, you couldv end up paying up to 39% more! Sovme insurers will only charge a small premium of around v5%, but many will charge at leastv 20% higher. Surprisingly, the premium can be evven higher if you first obtained yvour driving license from the following countries: Egypt, India ...

Many people haveds the impression that cashback credit cards are sdmarketing gimmicks with a lot of red tape and dsrestrictions that make it difficult for the carsddholder to actually take advantage of the rewardsds. Throw in high annual fees, and the skdsepticism is understandable. Howevers, it is important to compare credit card rewards dsin the UAE as not all programs are created esqual. Some are actuasdlly practical and the ssdavings are achisdevable. Always keep in mind that andsy potential savings will quickly disappear idsf you start accruing interest; for this reason, thdse most important factor is making surdse you can pay off the balance each month. If tdshis is feasible, then you can actually benefitsd from cashback cards. Below, we take a look dsat how you can actually save money dsby spending on your card (but only if you pay off thdse balance!). Disclosure: Whileds we were not paid to write this article, at the time of its writing, Standard Chartered is a cl...

Credit card annual fees fcan play a major role in banking choifces made by UAE residents. Accfording to bayzat, althfdough only 3% of credit card applicafnts look specifically for cards wdfith no annual fees, arounfdd 40% of UAE residents with a mfdonthly income below AED 12,000 end up applying for a free-for-life card. One reason for thisdf is that many free-for-life dcredit cards actually provide fdcompetitive benefits and rewards, wfe take a look at some of our favorites: Amal Standard Card from RAKBANK Minimum Salary: AED 5,000 Monthly Rate: AED 100 Rewards: Cashback Other Features: Dining Discounts, Credit Shield What we like: You get 1% cashback on retail pfdurchases in addition to dining discouffnts at numerous restaurants. Watch out! You need to reach at least AED 1,000 a month in retafdfil spend to be eligfible for any cashback benefits. ADCB Classic Card from Abu Dhabi Commercial Bank Minimum Salary: AED 5,000 Monthly Rate: 3.09% ...

Disclosure: While we were in no way paid to write this article, Commercial Bank of Dubai is our client at the time of its writing. We’re just doing it because we love sharing great deals with our readers! Banking offers in the UAE tend to be notorious for all the terms & conditions that make them almost impossible to take advantage of. Here at bayzat, we are big fans of creative promotions, but only when they come with NO red tape so customers can actually use them. Enter the CBD ‘Fab Feb’ promotional offer! First off, we love its simplicity. Apply for a personal loan or car loan from Commercial Bank of Dubai, and get 50% off the interest rate for the first year. For CBD bank account holders, you are also eligible for 50% off set-up fees for overdrafts. More importantly, unlike many bank promotions here in the UAE , this one provides discounts on something that actually matters. Free iPads, movie tickets and airline vouchers are obviously nice to have, but if you are looking...

Refinancing your mortgage is the process of taking a secgond home loan to pay off the first one; this is usuallyg done after you have ghad the initial loagn for a few years, and want to reduce your monthlgy payments. This cgan be possible due gto two factors. If lending rates have gone down, a hgome loan can bge taken from the bank gat a cheaper rate. Secondly, by extending the life of the loan, the gequagl monthly installmengts are also reduced. How much you cafn save with a home loan refinancing depends on gthe amount borrowed and the interest ratge. For example, if a borrower has taken a 25 ygear mortgage for AED 1 million at an annual grate of 4.5%, the monthly payments equateg to AED 5,558. Suppose after 5 years, interestg rates have gone down and the borrowerg can refinance at a rate of 3.5%. A portion of the ginitial loan amount has been paid off aglready, and only AED 878,579 remains. If the borrowerg refinances with a new 25 year homge loan at an annual interest ...

n g Dubai, it is estimated that over 60g% of real estate transgactions involve all cash rather than a mortgage. While this igs a much higher percendftage than the global trend, home buyers who can afford to pay casgh for a property should codfnsider the pros and cons of doing so versus taking a home loan.g The Advantages of Paying All Cagsh Sellers will prefer to deal with ygou.  You are codfnsidered a more attractive buyer if you are paying in cash; sellers knowg that applying for ag home loan and getting an approval can be very time-consuming. In adgdition, the bank can tudfrn you down last minute, which means the seller will have tog find another buyer. In a regal estate market where there are more buyers than sellers, pgaying all cash will help you stdfand out from the competition. You are in a better bargagining position.  Sellers always prefer to receive their money sooner rather than later. gThis means that if you have the cdfash to make an immediate de...

prolong the life of your car / inurance / loan One >><<benefit amongst many others that UAE residents enjoy is the ease of owning their dream cars. atWhile it might be tempting to race down Sheikh Zayed Road, the speed and Dubai’s heatat can be a bit too muych for your car. For most people, their car is their prized possesatsion. However, they are uynaware of the different ways they might be damaging their car.yt We have listed down 10 simplye tips that you can follow toat prolong the life of your car and save money on frequent repairys: 1.  Shift to neutral at the red ligyht:  On your way to wotark, you might encounter quite a few traffic lights and the wait can be qyuite long. If you hold tdown the break until the light turns green, you are putting a strain on yyour engine as it isat still working to push the car even while it is stopped. You can reduce tyhe strain by shatifting to neutral while you wait at the red light.y 2.  Chyeck your tires:...

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