Motor Vehicle – Individual and Fleet
Motor Vehicle insurance is mandatory by Law in the UAE, as it is in most other geographies. The UAE Law requires Third Party Liability insurance cover (TPL) as a minimum for motor vehicles to be registered in the country. This is the most basic form of motor vehicle insurance available and covers the owner’s Legal Liability against death or injury caused to any Third Party as well as damages to Third Parties Properties (arising out of use of the vehicle).
However, a TPL only cover will not pay for physical loss or damage to your own vehicle (Own Damage) because of an accident. For comprehensive protection, You will need to buy a Comprehensive Motor Insurance policy that will cover you against accidental loss or damage to your vehicle, as well as for any third party liability arising out of the use of your vehicle.
Companies that have many vehicles will benefit from a “Fleet” Policy, which is a single annual Policy for all their vehicles. Managing a Fleet Policy with a single renewal date and common terms & conditions is both beneficial and easy to administer.