ISLAMIC CAR INSURANCE

ISLAMIC CAR INSURANCE

CAR TAKAFUL ISLAMIC CAR INSURANCE PLAN QUOTATION USA UK HALAL VEHICLE INSURER SHARIA CAR INSURANCE

An Islamic car insurance or car Takaful is by definition a cover that mitigates financial harms as a result of accidents causing damage to the vehicle and individuals and which follows the principles of Islamic finance as part of Islamic Sharia law.

The Islamic car insurance follows the objectives of a conventional vehicle insurance coverage, however by applying rules based on sharia-compliant cover or Takaful and being an ethical financial transaction.

WHAT TYPES OF ISLAMIC CAR INSURANCES ?

A car Takaful which is equivalent to a halal car insurance offers to Muslim car drivers several cover options:

  • Liability Insurance.
  • Third party.
  • Fire and theft car insurance.
  • Collision coverage.
  • Fully comprehensive coverage.
  • Personal injury protection.
  • Uninsured or underinsured motorist protection.

An Islamic car insurance or vehicle Takaful auto consists of a cover that covers against many risks and obeys Islamic principles according to which the premiums of Islamic policyholders are invested in financial products following strict financial laws of Sharia.

The Islamic car insurance is preconditioned that the car has not been financed by applying interest (Riba) but also that the vehicle is not used for activities contrary to the values of Islam (transport of alcohol for example).

WHAT IS THE DIFFERENCE BETWEEN A SHARIA CAR INSURANCE AND A CONVENTIONAL VEHICLE INSURANCE?

A Sharia car insurance is different from a conventional car cover policy so far as the Muslim policyholders share the risks an profits by paying the premium into a Sharia compliant investment fund.

The car Takaful differentiates itself from the normal cover as any surplus of cash (paid premiums minus claims) is allocated as a discount to the policyholders during the following premium payment year.

In the United States (USA) and United Kingdom (UK), Islamic car insurance is possible as it is meanwhile offered by American and British Halal insurer who cover Muslim drivers by applying Sharia law.

HALAL MORTGAGE   TAKAFUL INSURANCE   STUDENT INSURANCE   CAR INSURANCE   HOME INSURANCE   REAL ESTATE INSURANCE   LIFE INSURANCE   BUSINESS INSURANCE   TRAVEL INSURANCE   HAJJ UMRAH INSURANCE   FUNERAL INSURANCE   MOSQUE INSURANCE   AUSTRALIA INSURANCE   GERMANY INSURANCE   ISLAMIC CAR LOAN   ISLAMIC MICROFINANCE    WITHOUT INTEREST   BUSINESS LOAN   FOR WOMEN    TAKAFUL MORTGAGE   LOAN WITH POOR CREDIT   ISLAMIC DEBT CONSOLIDATION    DISABILITY LOAN   STUDENT LOAN   ISLAMIC LEASING    LETTER OF CREDIT   PERSONAL LOAN   FOR STARTUP    PRIVATE LOAN   CROWDFUNDING   CALCULATOR    FOR WEDDING   FOR EXPATRIATE   ISLAMIC INSURANCE    INDIA TAKAFUL   ISLAMIC HEALTH INSURANCE   USA TAKAFUL    CANADA TAKAFUL   UK TAKAFUL   FARMER LOAN   CORONOVIRUS LOAN   TAXI LOAN   RAMADAN LOAN   ALBANIA   ALGERIA   AUSTRALIA    BAHRAIN   BANGLADESH   BOSNIA-HERZEGOVINA    BRUNEI   CANADA   CHINA    DENMARK   DJIBOUTI   EGYPT    ETHIOPA   FRANCE   INDONESIA    IRAN   IRAQ   IVORY COAST    JORDAN   KAZAKHSTAN   KENYA    KUWAIT   KYRGYZSTAN   LEBANON    LIBYA   LUXEMBOURG   MALAYSIA    MALI   MAURITANIA   MOROCCO    NETHERLANDS   NIGERIA   NORWAY    OMAN   PAKISTAN   PALESTINE    PHILIPPINES   QATAR   RUSSIA    SAUDI-ARABIA   SENEGAL   SINGAPORE    SRI-LANKA   SUDAN   SWITZERLAND    SYRIA   TAJIKISTAN   TANZANIA    THAILAND   TUNISIA   TURKEY    U.A.E   UNITED-KINGDOM   U.S.A    UZBEKISTAN   YEMEN   AZERBAIJAN    INDIA   BELGIUM   GERMANY    IRELAND   ITALY   NEW-ZEALAND    SPAIN   SWEDEN    BULGARIA   KOSOVO   SOUTH-AFRICA    LONDON