The Saudi Arabian Monetary Authority (SAMA) has announced to extend the expiry date of vehicle insurance policies for individuals in Saudi Arabia to support the insurance sector and the private sector due to Coronavirus pandemic.
Also Read: End of Service Benefits in Saudi Arabia
Extend Motor Vehicle Insurance for 2 months Without Extra Charges
Saudi insurance companies have extended by two months insurance for individuals vehicles without extra charges/
The renewal is processed automatically without the client having to approach the insurer due to the situation related to the coronavirus outbreak.
Dr. Ahmad bin Abdul Karim Al-Kholifey, The Governor of the Saudi Arabian Monetary Authority (SAMA), lauded the Saudi insurance firms for taking the initiative not only to extend all existing vehicle insurance policies for a period of two months but also adding 2 months to vehicle insurance policies purchased during the period from 8th May 2020 to 6th June 2020 without collecting any additional charges.
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