Saudi insurers extend individual vehicle policies for 2 months, no additional costs

Saudi Arabian insurance companies have extended individual vehicle insurance policies for two months and added two months to the policies of individual vehicles purchased during the period from May 8 - June 6, 2020, without any additional costs.

Ahmed Alkholifey, Governor of the Saudi Arabian Monetary Authority (SAMA), hailed the Saudi insurers' initiative, adding that these measures come in line with the Kingdom's procedures to to combat the COVID-19 pandemic and mitigate its economic impacts.

These new online measures support beneficiaries of insurance coverage during the current conditions and help them avoid policy cancelations due to delays in premium payments.