Rising Insurance Costs Reshape UAE Consumer Habits

Rising insurance costs are significantly impacting the spending and saving habits of UAE residents, according to a recent NIQ report. More than half of car owners have experienced premium increases, while 80% expect further hikes. To manage costs, consumers are leveraging loyalty rewards, reducing coverage, and opting for multi-year fixed-rate insurance policies. Additionally, 76% of UAE residents are seeking extra income and prioritizing long-term value. The report emphasizes the importance of businesses bridging the “say-do” gap to better align with evolving consumer preferences.