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Electric vehicles are battery-powered automobiles with an electric motor in place of a combustion engine. Electric cars require tyres with more durable rubber compositions and stronger constructions to accommodate a high torque, which increases tyre wear.
Given the existence of electric vehicles for some time, EV tyres have seen a surge in innovation in recent years.
The government’s rising preference for electric cars as a way to reduce carbon emissions, a dramatic increase in the sales of light electric vehicles, and a growing desire to electrify public transportation by introducing electric buses are all factors contributing to the market’s growth.
The UAE EV Insurance Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
The Islamic Arab Insurance Company, Salama, and Policybazaar. ae have partnered to create an online comprehensive insurance plan for vehicles not built to GCC specifications.
The leading Shari’ah-compliant Takaful solutions provider in the UAE and the fastest-growing online insurance and financing marketplace will exclusively provide a quick and simple comprehensive motor insurance for imported automobiles with a variety of perks.
Customers may now insure even their premium automobiles online from the convenience of their homes or offices thanks to the debut of this innovative solution.
Since they weren’t built for Gulf conditions, non-GCC standard automobiles used to present a bigger risk to auto insurance. The sole alternative was to get third-party liability insurance, but this required a lengthy waiting period to get a policy.
The Company for Cooperative Insurance “Tawuniya” has unveiled Motor Flex, the first product of its kind in the Saudi insurance market, which allows clients to choose their insurance coverage options.
Tawuniya’s dedication to innovation is reflected in the new product, which focuses on giving customers the insurance solutions that best suit their needs while also taking into account advancements in the field of professional insurance practice.
The Motor Flex also gave customers the option to manage their insurance premiums and coverages. It is directed at car owners who can design a custom protection plan.
The new package offers required third-party liability in addition to a choice of seven additional covers based on the needs of the customer, such as fire, theft, deliberate accidents, hail and flood, roadside assistance, and medical payments.
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