Cheap motor insurance / car insurance in saudi arabia ( riyadh)

Thanks for sharing your experience on the blog.

Two comments:

awa-banday wrote:

Malath insurance at Abdul latif jameel ( Cheapest one  SAR 825 for my camry )
Rates are less only for Toyota cars.

True and good point.
If you have a Toyota, the cheapest third party you can get is from Malath as they have a major contract signed with Abdul Latif Jameel since 1.5 years.

awa-banday wrote:

Note: Rates are changing almost daily. There is no check on these insurance companies. So there can be difference in rates

Not at all. There are 33 insurance companies in KSA that are strictly observed and authorized by SAMA. They change their rates but not a even a single riyal can go up or down without SAMA's approval. For example, TPL used to be very cheap some 5 years back. The rates today are around 150%. This hike was actually ordered by SAMA as international and local actuarial analysis team convinced SAMA to recommend a well-defined price hike schemes. This was to let insurance companies survive without losses.

Salam,
@legendleads , thanks for the comment but this has happened with me and i have shared my experience.
Forexample i called call centre of Tawaniya and asked about 3rd party insurance for Camry 2010. The Lady over there said it will cost around SAR 1000. I went to Tawaniya outlet and they told me it will cost 1125. Now a day before a reliable friend told me that now they giving it for 1200.
You might be right but there is a huge difference between making rules and following them.

Insurance Outlet Agents, who actually issues insurance, are the ones who are authorized for setting insurance price. I believe they have to make sure certain conditions are met. Other than that there are various add-ons which increase the cost. The lady over the phone might have made the mistake in understanding the model /year, quoted wrong price by mistake from another car /model, etc. I believe the best way to confirm this is to inquire the minimum cost with zero add-ons and coverage from 2-3 separate outlets of same company on different dates.

My 2 cents...

let me know more about this since i have to make soon

Hello,
With reference to this topic posted by awa-banday on 04 November 2015, I would like to add a few points as I did my old Toyota Car insurance through Malath yesterday.

The points mentioned by him are very pertinent & kudos to him.
Additions:
1) Currently other insurance companies are charging 1200-1400 SR & expected to go up again.  Through Malath insurance cost was SR 850.
2) On;y one main mandatory requirement now is that one needs a P.O. Box address
Wasel P.O. Box can be started by anyone in an hour or so by going to nearest post office -Only thing is to have accurate address details.
Wasel P.O. Box are of 2 types: Free OR Paid - Annual fees for paid box is SR 90.

Alternatively one can skip the ownership of P.O.Box by using a friends P.O.Box as i did.

Hope these points are handy for those who need to make Toyota car insurance.
Kindly note that this reduced Insurance price DOES NOT apply to non Toyota cars.

what is the process for insurance of Chevrolet optra  2006 model.
please tell me if anybody have experience for that and what is the
cost for that car.
thank,s

Hey, I would suggest to have a look at 
SAUDI UNIT INSURANCE - WALAA
They are also offering cheap rates for private jeep and sedans, somewhat between 800-900 I think, But you have to reach them direct as their website is not that much informative.

Which insurance company (if any) offers monthly insurance?

jawad88 wrote:

Which insurance company (if any) offers monthly insurance?

None. It's against SAMA regulations.

Out of curiosity, which of these company pays you the amount of the repairs after the inspection is done rather than taking your vehicle away for a month or at least give a replacement car?

Jazaak'Allah for your detailed helpful post.

hello, im trying to find a cheap TPL insurance here in Riyadh.

hi
Im  tryin to find a third party insurance in Khobar (Toyota corolla 2012)

Hi
How about for 6 months?
for my Chavellet  Lumana 2003 only to obtain Stimara