Vehicle Insurance Policies Extending Free for 2 Months
The SAMA also know as The Saudi Arabian Monetary Authority has an announcement. The order to extend the individual vehicle insurance policy for two months for free. There is no cost over the extending of such policy and its free. For your info, it is because of the current pandemic situations.
Free Vehicle Insurance Policy Renewal for 2 Months in KSA
They implement such order to help the private sector as well as the insurance sector in the Kingdom. This is because of the current worst situation of the coronavirus impact in the Kingdom. But on the other side another ministry call to cut the worker’s salary by 40%.
However, in simple words your if you are the one with expired vehicle insurance validity. Then its gonna renewed automatically for 2 months. The good news there is on a fee on the insurance automatic renewal in the current pandemic situations. The changes are gonna take from now on, I mean from today.
The governor of the SAMA, The Saudi Arabia Monetary Authority not just order to extend the vehicle insurance for 2 months but to add another 2 months in advance for the period of 8th May 2020 to 6th June 2020 only without getting any fee for it.
There is no need to visit the health insurance company in Saudi Arabia or go for any electronic service online. The insurance policy for each individual is gonna get renewed automatically without doing any efforts by the individual in the Kingdom of Saudi Arabia.
During the current circumstance, the SAMA wanted to help all the individuals with such an issue and help private as well as the insurance sector. This is such a good step the SAMA, we hope to see similar implementations in the near future, may Allah not but the situation remain the same. I mean the current pandemic circumstances in the Kingdom of Saudi Arabia.
So you don’t need to worry about the current insurance renewal of your vehicle in KSA. It will be automatically renewed and there is no fee over the renewal. Stay home, save lives.
