Are you buying a new car or changing insurance provider? All you need to know about budgeting for your Saudi car insurance and avoiding hidden costs.
If you haven’t bought a car yet and are budgeting for the total cost, run through this checklist; this is what your insurance provider will consider before giving you a quote.
- Value: Before you get your car insured, remember that the cost will depend on the value of your car. The more your car is worth, the more expensive the insurance will be.
- Driver’s age: As the main driver, your age and the number of years’ experience you have of driving will be some of the biggest factors providers will consider.
- Year car built: If you aren’t buying a brand-new car, your provider might inspect your car before giving you a quote. Certainly, they’ll be warier the older it is.
- No Claims Discount: If you are a good driver who hasn’t made any claims for several years, you should qualify for a discount. The longer you have been accident-free, the more discount you get. Ask your insurer if you qualify and ensure you get a no claims certificate from your current provider, if you’re switching, to get the discount with your new insurer.
Third party or comprehensive?
The kind of policy you get will determine the final cost of your insurance. The two types of insurance policies are third party liability insurance and fully comprehensive insurance.
- Third party insurance is the most basic insurance you can get. It covers any legal repercussions in case of an accident, death or injury caused by you – that is to say, injury or damage to other parties.
- However, fully comprehensive insurance will also cover any damage to your own car in an accident. It can also cover damage caused by natural calamities and injury to passengers.
Remember, car insurance is mandatory in Saudi Arabia and by law drivers are require to have at least third party liability cover to get their cars registered.
How do I get the best policy?
Always compare the prices of insurance policies instead of buying the first one you get a quote for. Ideally, get at least three different quotes before choosing a policy.
Make sure you read the fine print and ask questions to avoid any surprises. Not all providers will cover damage to your windscreen or have a car hire service while your car is being fixed. Find out if you can get any discounts, especially if you’re getting more than one car insured by the same provider.
You may want to add optional extras onto your car insurance policy. For example, if you’re a fan of dune-bashing or camping, think about adding off-road cover to your policy. Other add-ons include roadside assistance or international coverage. If you travel by car to surrounding countries, it’s a good idea to get a policy which covers the GCC and save on paying for additional insurance at the border. [Related: The little extras that come with your car insurance policy]