30% Reduction on Car Insurance Premium from April 2017

Saudi Arabian Monetary Authority (SAMA) has asked vehicle insurance companies to reduce the prices of their policies by 10 to 30 percent for individuals starting April 2017

The agency said this would be in addition to an optional 10 percent reduction to be given to loyal clients who insure their cars with the same company for several years.SAMA said the discounts would be given only to customers who have clean records and have not made any accident claims from one year to three years

However the reduction of 10 percent to be given as a token of loyalty is optional and left to the discretion of the insurance company.

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