Al-Murabba Net – Did you know that you can compare the prices of car insurance companies in Saudi Arabia, before you start choosing the company you want to deal with regarding your car insurance?
Everyone tends to know the prices of comprehensive car insurance for 2023 and third-party insurance before purchasing a new car, as vehicle insurance is among the important and necessary matters for everyone who owns a car in the Kingdom, as it is obligatory for everyone.
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Car insurance company rates
It is known that there is difficulty in providing clear vehicle insurance prices in Saudi Arabia, as the price of car insurance varies from one customer to another according to a number of different factors.
Despite this, it is possible to compare comprehensive car insurance prices for 2023 through approved and reliable sites to make it easier for you.
You will also undoubtedly have to look at the criteria for determining the price of comprehensive insurance or third-party insurance, as this may help you choose your car.
In this regard, the “Al Murabaa Net” website offers you how to compare the prices of car insurance companies before purchasing the policy, along with a review of the best insurance companies in the Kingdom.
Read alsoCases not covered by comprehensive insurance in Saudi Arabia
The best car insurance companies in Saudi Arabia
Before monitoring how to compare the prices of car insurance companies in the Kingdom, let us review for you the best and largest insurance companies in the Kingdom.
Here is a list of the best car insurance companies in Saudi Arabia, which are licensed and approved by the Central Bank.
Tawuniya Insurance Company
Tawuniya Insurance Company sits on the list of the best companies providing services in this sector, as it enjoys high popularity and reliability.
Tawuniya Insurance Company was established in 1986, so it has a history full of achievements, in addition to the experience that everyone is looking for.
The company’s efforts are not limited to providing car insurance, but rather it works in more than 60 types of insurance, including medical, fire, property, various accidents, and others.
The company’s products and services provided to car customers vary.
The services of the Cooperative Motors Company currently include the following:
- Comprehensive car insurance
- Insurance against third parties
- Third party insurance plus, which includes compensation for third party car damage
- Mechanical breakdown insurance
- Tawuniya Drive (a new service, details of which can be found here)
Regarding the contact information and address of the Tawuniya Insurance Company, it includes the following:
- Mobile number: +966 11 252 5800
- Fax: +966 11 400 0844
- Email: [email protected]
- P.O. Box: 86959, Riyadh 11632 – Kingdom of Saudi Arabia
- Address: 6507 Al Thumama (Al Takhasusi) Road – Al Rabi’, Riyadh 11632
- The company’s official website is here
Read also: Tawuniya Company offers a mechanical breakdown insurance program for vehicles with distinguished services in the Kingdom
The approved insurance companies in Saudi Arabia include the famous Medgulf Company, which also provides its services in more than one sector, including travel and health insurance.
Naturally, customers are offered multiple options for insurance for cars, other property, and more.
Its products in the car insurance sector include the following:
- Comprehensive vehicle insurance
- Vehicle insurance against third parties
- Roadside assistance
Here is the contact information:
- Medgulf’s headquarters is located in Jeddah – Jawharat Al Tahlia Building – Prince Muhammad bin Abdulaziz Street, Al-Andalus District
- Phone: 8001163700
Chubb Arabia Cooperative Insurance Company
Chubb Arabia Cooperative Insurance Company is one of the most famous insurance companies in the Kingdom of Saudi Arabia, which has 3 branches in all major cities.
It offers commercial property and casualty insurance, personal accident insurance and group life insurance to different categories of clients.
The company is officially licensed by the Saudi Arabian Monetary Agency (SAMA), and these are its contact information:
- The company’s main headquarters is located in Al-Khobar – King Faisal Street – Al-Khobar Business Gate Building
- Phone: 8001160038 – 966138493630
Read also: Steps to add an actual user to the vehicle electronically
The cheapest third party insurance price in Saudi Arabia
On the other hand, some people who are about to buy a new car may think that it is easy to determine the cheapest third party insurance price in Saudi Arabia, but in reality this step is not smooth at all.
You cannot view the list of the cheapest third party insurance prices and take it as your standard. This is because from the beginning the price of the insurance policy is determined according to a set of factors and standards that differ from one individual to another.
Therefore, you cannot rely on the prices announced by some sites or others, but you can first review the criteria for determining third-party insurance and comprehensive insurance prices.
Criteria for determining the price of car insurance
Now we come to the most important aspects related to insurance and car insurance prices in Saudi Arabia, which are the standards that companies rely on to set a price
It is common knowledge that the various insurance companies in Saudi Arabia set a set of standards agreed upon by the Central Bank, through which the prices of third-party insurance or comprehensive insurance are determined, and most often the standards are similar between companies.
SAMA sets the standards for determining the price of car insurance in the Kingdom of Saudi Arabia, through the Cooperative Insurance System, which stipulates that insurance companies must rely on specific factors when setting car insurance prices, including:
- Value of the car: Insurance companies rely on the value of the car when determining the insurance price, because more expensive cars are more susceptible to damage in the event of an accident.
- Age of the car: Insurance companies also rely on the age of the car when determining the insurance price, because new cars are less susceptible to damage in the event of an accident.
- Type of car: Insurance companies also depend on the type of car when determining the insurance price, because some types of cars are more vulnerable to damage in the event of an accident, such as sports cars.
- Use of the car: Insurance companies also rely on the use of the car when determining the insurance price, because cars used for business are more vulnerable to damage in the event of an accident.
- Driver’s traffic record: Insurance companies also rely on the driver’s traffic record when determining the insurance price, because drivers with a bad traffic record are more likely to cause accidents.
- Type of insurance policy: Insurance companies also depend on the type of insurance policy when determining the insurance price, because comprehensive insurance policies are more expensive than third-party insurance policies.
In addition to these factors, insurance companies may also rely on other factors when determining the price of insurance, such as:
- The city where the driver lives.
- Date of purchase and registration of the vehicle.
- Number of previous claims against the driver or vehicle.
- Promotional programs offered by insurance companies.
Read also: What do you benefit from car insurance when you rent it?
Compare car insurance companies’ rates
Now we come to the comparison of comprehensive car insurance prices 2023 in Saudi Arabia. As we mentioned at the beginning, it is not possible to determine the cheapest third-party car insurance. We explain that the reason for this is that the prices of the third-party insurance policy and comprehensive insurance are determined according to several different factors, which of course vary from one car owner to another.
Despite the difficulty of determining prices, there are websites in the Kingdom of Saudi Arabia that give customers the opportunity to compare insurance prices, most notably the Tameeni website, and other websites specialized in this matter.
The Tameeni website is the first website approved by the Central Bank of Saudi Arabia, providing an opportunity to compare insurance prices in Saudi Arabia in easy and flexible steps.
To find out the cheapest comprehensive car insurance in Saudi Arabia, or the cheapest third party insurance, all you have to do is the following:
- First, go to the insurance website by searching for it: Click here
- The home page contains fields to register your personal data.
- Enter your ID or residency number if you are a resident.
- Specify the validity date of the document as you wish.
- You must enter the required code to ensure that you are not a robot.
- After completing the previous steps, you will see a comparison between third party or comprehensive insurance prices in more than 20 accredited insurance companies in the Kingdom.
- You can now choose, then pay electronically through the available payment methods.
Read also: Al Rajhi Takaful Motor Insurance… 3 types with different benefits
What are the car insurance exclusions?
Some may think that the car insurance company may pay for the accident and compensate the car owner or the last party in all cases.
But in fact, there are what are known as insurance exclusions of all types: third party and comprehensive.
In other words, the car insurance company may not bear responsibility in some cases, according to the Central Bank (SAMA).
The exceptions include the following points:
- The policy does not cover compensation for accidents resulting from using the car for drifting.
- Likewise, damages that occur as a result of using the car in races, or to determine the starting speed or the like, will not be compensated.
- Compensation will also not be given if the car is used within areas where the public is not authorized to drive, such as airports or seaports
- In addition, if an accident occurs while using the car in violation of the restrictions imposed by the authorities, compensation will not be provided.
- Also, the accident is not covered if it is proven that it occurred because the car’s load of passengers exceeded the permitted number.
- The other party will also not be compensated if the car is driven under the influence of drugs or alcohol.
- Damages will not be compensated if the car is driven by a person under 21 years of age.
- If an accident occurs while a person is driving a car without a valid driver’s license, compensation will not be provided.
- Compensation will also not be provided if it is proven that the insured provided incorrect information in the insurance application form.
- Compensation will not be provided if it is proven that the accident occurred intentionally on the part of the insured or the driver.
- In addition, no one will be compensated if the insured or the vehicle driver escapes from the accident site.
- Finally, if the insured does not inform the company in writing within the period specified in the policy, he will not be compensated
How can I get the cheapest third party insurance in Saudi Arabia?
After reviewing the most important criteria for determining the prices of third party insurance and comprehensive insurance in Saudi Arabia, a set of tips should be mentioned that you can review carefully in order to obtain the cheapest third party insurance.
You must pay attention to these matters before choosing the car you want to own, if you want to get cheap insurance.
These tips include the following points:
- If you want to get cheap car insurance, make sure to own a car with advanced security and safety systems, as the cost decreases the more the car has high safety features.
- Also, if the car owner is over 25 years old, he can get cheaper insurance than those who are 20 years old.
- You can also get a car from the beginning that has a low accident risk. For example, youth sports cars are more susceptible to accidents than other groups.
- Also, make sure to listen to the experience of others in dealing with insurance companies to find out the cheapest insurance company in Saudi Arabia.
Read also: ACIG Company comprehensive car insurance against third parties… covers these accidents