Saudi Arabia – 6.5 million uninsured cars
Tuesday, 02 02 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
Experts in insurance affairs said that the number of uninsured cars is estimated at 6.5 million out of the 12.5 million cars in the streets of the Kingdom of Saudi Arabia. They confirmed that compelling car owners to renew the insurance contract on annual basis and with continuity will have a positive impact on the insurance companies, which provide coverage to the cars. This will ensure that there is not a period of interruption in coverage, so the insurance policy will be in force on a continuous basis throughout the car ownership period.
Experts confirmed that when car owners renew every 3 years, it is considered as a reason for lost insurance business where only 6 million cars are insured whereas 6.5 million cars are outside the scope of insurance.
Source: Al Madina Newspaper