Beema is a digital car insurance company created through the Enoc Next accelerator programme in partnership with Axa. Chris Whiteoak / The National
Beema is a digital car insurance company created through the Enoc Next accelerator programme in partnership with Axa. Chris Whiteoak / The National
Beema is a digital car insurance company created through the Enoc Next accelerator programme in partnership with Axa. Chris Whiteoak / The National
Beema is a digital car insurance company created through the Enoc Next accelerator programme in partnership with Axa. Chris Whiteoak / The National

Fewer accidents push UAE car insurance premiums about 10% lower in 2019


Alice Haine
  • English
  • Arabic

Car insurance premiums declined by almost 10 per cent in the first half of 2019, compared to the same period last year, on the back of few accidents and weaker car sales, according to UAE financial aggregator Insurancemarket.ae.

The company examined the top five insured brands on its platform – Nissan, Toyota, Ford, Honda  and Mitsubishi – and found gross premiums declined by an average of 9.5 per cent since the beginning of this year compared to the same period in 2018.

Avinash Babur, chief executive of InsuranceMarket said the cost savings are driven by a reduction in traffic accidents in the Emirates this year and “increasing efficiency in insurance distribution”.

"The regulation from the UAE Insurance Authority introducing no-claims bonuses has also had an impact, as safer drivers begin to be rewarded with discounts on premiums for policyholders with claims-free records" Mr Babur said.

Car insurance amendments, rolled out in December 2017 by the IA, entitle car owners who have not been involved in an accident to reduced premiums ranging from 10 to 20 per cent. Drivers with a clean record of one year receive a 10 per cent reduction in premiums; those with two years without incident can demand a 15 per cent discount and motorists with three years without a claim are entitled to a 20 per cent discount.

According to Insurancemarket, other factors contributing to the decrease in premiums include market depreciation, triggered by a slowdown in new car sales. A February poll from online marketplace dubizzle Motors found that nine out of 10 UAE residents looking to buy a car in 2019 will choose a second-hand model over new.

“As the process of purchasing used vehicles has become more accessible and convenient due to improved infrastructure, more people seem inclined to buy less expensive pre-owned cars, which in turn leads to lower insurance premiums,” Mr Babur said.

The study revealed the largest number of claims are made over the summer months and during Ramadan. Last year, 913 claims were made at the insurance aggregator between May and August, with the least number of claims taking place in January 2018 with just 189 claims submitted.

Three-quarters of the website’s users opted for comprehensive insurance coverage, rather than third-party only insurance.

“As premiums continue to drop, we are seeing that customers are increasingly opting for comprehensive coverage to provide maximum protection and greater peace of mind," Mr Babur said. "Comprehensive cover protects the policyholder against any damages caused due to theft, accident or fire in addition to providing cover against third-party insurance, meaning you may be covered for all car insurance eventualities."

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
UNpaid bills:

Countries with largest unpaid bill for UN budget in 2019

USA – $1.055 billion

Brazil – $143 million

Argentina – $52 million

Mexico – $36 million

Iran – $27 million

Israel – $18 million

Venezuela – $17 million

Korea – $10 million

Countries with largest unpaid bill for UN peacekeeping operations in 2019

USA – $2.38 billion

Brazil – $287 million

Spain – $110 million

France – $103 million

Ukraine – $100 million

 

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

One in nine do not have enough to eat

Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.

One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.

The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.

Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.

It is currently estimated that one in nine people globally do not have enough to eat.

On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.

Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

While you're here
WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

WandaVision

Starring: Elizabeth Olsen, Paul Bettany

Directed by: Matt Shakman

Rating: Four stars

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

BEACH SOCCER WORLD CUP

Group A

Paraguay
Japan
Switzerland
USA

Group B

Uruguay
Mexico
Italy
Tahiti

Group C

Belarus
UAE
Senegal
Russia

Group D

Brazil
Oman
Portugal
Nigeria

How England have scored their set-piece goals in Russia

Three Penalties

v Panama, Group Stage (Harry Kane)

v Panama, Group Stage (Kane)

v Colombia, Last 16 (Kane)

Four Corners

v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)

v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)

v Panama, Group Stage (Stones, header, from Trippier corner)

v Sweden, Quarter-Final (Maguire, header, from Young corner)

One Free-Kick

v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Ways to control drones

Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.

"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.

New measures have now been taken to monitor drone activity, Geo-fencing technology is one.

It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.

The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.

The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.

Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000