Are you looking for companies to insure your car in Saudi Arabia?
You have come to the right place!
Kingdom of Saudi Arabia has established the law of insuring a car even before finalizing the purchase.
Comprehensive car insurance is not required.
Read More: Driving License in Saudi Arabia
However, third-party insurance is compulsory. This is for the compensation of damages or injury done to the third party or the other vehicle involved in an accident with you.
We have come up with a list of the best car insurance companies in Saudi Arabia for you!
You may be interested in Car Insurance in the UAE.
One of the leading insurance companies in Saudi Arabia is the Company for Cooperative Insurance (Tawuniya).
It is based in Riyadh. Tawuniya was the first licensed insurance company in KSA.
The insurance program for third-party liability is called SANAD. It starts from 800 to 1200 Saudi Riyals and the maximum coverage of SR 10,000,000.
The benefits of the SANAD program are:
- Drivers of 21 years can be accommodated
- Furnished with an Insurance Card
- Equipped with Bail Bond certified by the Traffic Police
- Can include damages to a car with cover up to SR 20,000
The program for comprehensive car insurance is known as Al Shamel. It starts from SR 2500 and lasts till SR 10,000,000.
The advantages of the Al Shamel program are:
- Nationwide set-up of agency workshops for damaged insured cars
- Cover for loss of part or whole car due to theft or fire
- Cover for car towing
- Drivers of less than 25 years with a licensed driving card can opt for this
2. AXA Cooperative Insurance Company
AXA is generally ranked as the 4th largest insurance company in KSA.
It has offices in Riyadh, Dammam, Al Khobar, and Jeddah.
It is well known for an instant and broad range of cover proposals regarding insurance with having over 300 trained employees.
AXA offers both the services of Motor Perfect and Third-Party covers. You can either opt for comprehensive car insurance or legal liability regarding damages induced to other individuals.
The main covers provided by AXA company considering car insurance services are:
- Loss or damage to valuable personal belongings placed on the insured vehicle (up to Up to SAR 2,000/-)
- Loss or damage to the insured car
- Medical bills are covered for the person(s) inside the insured vehicle during an accident (up to Up to SAR 5,000/-)
- Compensation to be paid to the third party for injury, death, and property damage in case of an accident (liability up to SAR 5,000,000/-)
The further advantages provided by AXA company for car insurance services are:
- Recovery of any crash or break down of the road of the car
- During the time of the covered accident, the facility of hiring a vehicle is available
- Repair of cars at the manufacturer’s approved workshops for up to two years
- Automobiles wrecked by any natural disaster
- Compensation for the driver and passengers inside the car suffering from considerable injuries or in case of death
To ensure your car at AXA, you must be 25 years old, and the automobile should be registered less than ten years ago. The user of the vehicle should have the registration of the car in his name.
3. The Mediterranean and Gulf Cooperative Insurance (MEDGULF)
It is one of the most popular insurance companies in the KSA. MEDGULF provides quality and credible car insurance at an affordable price.
You can get insured online as well as submit insurance forms manually at MEDGULF offices.
The services for third-party insurance by MEDGULF are:
- The sanction for physical injury to the third party persons
- Retribution for damage by accident to the motor of the third party
- In case of a crash, support would be given to personal drivers and passengers or third party people
- Cover for one’s damage
- Cover for the liability of the third party in case of an accident
The comprehensive car insurance services available by MEDGULF are:
- Physical reimbursement will be allotted if the death or disability of the driver, passengers, or a third party takes place after an accident
- Cover for damage or loss of insured motor automobile and the third party vehicle
- The company would cover the expenditure on hospital treatments and medication of the driver, passengers, or third party
MEDGULF also invests in assistance of roadside issues such as
- Replacement of tire(s)
- Fuel delivery
- Taxi and Locksmith services
- Towing and battery charging
4. Malath Cooperative Insurance Co.
Malath Cooperative Insurance & Reinsurance Co. is the second insurance company that was licensed in Saudi Arabia.
This company provides multiple insurance services within the local Saudi market with thorough professionalism and dependability.
The Comprehensive Car Insurance benefits provided by Malath include:
- Provides liability up to SR 10 million for the third party and personal loss and damages, whether vehicular or physical
- Stipend for licensed drivers of less than 21 years
- Compensation for the alternative motor car rental
- Payment of the car in case of theft, fire, and damage by natural hazard (lightning, earthquake, landslide, etc.)
- Coverage for personal or third party physical and vehicular damage
Third-party car insurance services include:
- Provides compensation of up to SR 10 million in case of physical damage to the third party
- Coverage of blood money and medical charges
- Payment of third-party liability in case of bodily injury or automobile damage.
- Additional coverage of incensed drivers of under 21 years is provided by Malath Insurance company.
5. Allianz Saudi Fransi
The Saudi Fransi Cooperative Insurance Company (Allianz) provides conclusive car insurance to both individual and corporate clients since 2007.
Allianz offers a basic cover of the property loss and physical harm both inside and outside the car.
The Allianz insurance company maintains comprehensive car insurance. It provides coverage of the insured automobile damaged by:
- Explosion fire
- Lightning fire
- Accidental crash
- Damaged during vehicular transport by rail or road
Moreover, Allianz extends additional coverage services regarding car insurance such as:
- Replacement of vehicle
- Personal accident of driver and passenger
- Compensation of loss by natural disasters