Saudi Arabia: Discounts up to 15% on auto premiums extended till end-June
Source: Middle East Insurance Review | Feb 2018
To minimise the number of car accidents, insurers in Saudi Arabia have been ordered to keep offering safe drivers a discount of up to 15% for another six months, ending on 30 June 2018.
The discount will be offered to all comprehensive and compulsory insurance policyholders who were not involved in any car accidents in the past year, and those who were not qualified for the discount previously for the following reasons: they owned newer car models, they did not have an insurance policy or because their previous insurance policy expired a month before and was not renewed, reported Arab News.
The Saudi Arabian Monetary Authority (SAMA), which instructed auto insurers to give the discount, had previously issued a similar directive for a discount ranging between 10% and 15% for all accident-free drivers, from August to December 2017. This was aimed at encouraging drivers to drive safely.
According to SAMA, if clients do not receive the discount they can raise their complaints with the Consumer Protection Department on its official website, or by calling the department’s toll-free number. M