JEDDAH: costs of obligatory insurance on vehicles in Asian country area unit the best within the Gulf and Arab states with virtually double that of insurance policies in these countries, in keeping with statistics by a neighborhood newspaper.
According to the survey, insurance on a Toyota Camry in Asian country reaches SR1,500 a year whereas successive highest country is Jordan with SR770.
In Egypt, insurance for a Toyota Camry reaches SR700, followed by the UAE with SR650, Bahrain SR600, Qatar SR412, and Lebanon and Kuwait came last with SR300 and SR347 severally.
Insurance firms justify this variation in costs as compared with Arab and Gulf countries by language that firms bear the worth of blood cash within the Kingdom. in keeping with the official spokesperson for insurance firms, Adel Al-Isa, blood cash augmented in Asian country threefold that augmented losses incurred by these firms.
He aforesaid insurance costs within the Kingdom area unit logical as a result of the augmented value of accidents additionally to the growth within the scope of coverage, in keeping with the unified document.
Al-Isa aforesaid costs increase on AN ANnual basis and typically each 3 to 6 months if there's an rising scenario. He aforesaid insurance firms don’t have any authority, and blood cash and obliging the businesses to pay it will increase costs.
He aforesaid the expected increase in costs can depend upon the insurance: If profits area unit created {there can|there'll} be no increase in costs and current costs will continue, but if losses area unit incurred costs area unit expected to extend.
He aforesaid previous costs were left to the estimation of every company, and there weren’t several accidents as compared with this time, that junction rectifier to the rise in costs.
He discovered that Gulf states area unit totally different from Asian country in terms of geographical house additionally to the existence of the unified document that isn’t applied in Gulf states.
There area unit concerning thirteen million vehicles, in keeping with recent official statistics, whose insurance is obligatory for one year and will be revived for 3 a lot of years.
He aforesaid statistics show that vehicle insurance solely covers forty five p.c of cars, and insurance isn’t all activated. firms are attempting to search out solutions to manage will increase in costs through fitting a mutual information and activating insurance annually.
Ahmad Al-Asiri aforesaid insurance is increasing year by year and justifications by insurance firms area unit obscure.
He aforesaid insurance against others within the Kingdom is obligatory and corporations area unit certain that purchasers can get insurance notwithstanding the value. He known as on relevant authorities to supply obligatory insurance rather than unifying costs for all classes.
According to the survey, insurance on a Toyota Camry in Asian country reaches SR1,500 a year whereas successive highest country is Jordan with SR770.
In Egypt, insurance for a Toyota Camry reaches SR700, followed by the UAE with SR650, Bahrain SR600, Qatar SR412, and Lebanon and Kuwait came last with SR300 and SR347 severally.
Insurance firms justify this variation in costs as compared with Arab and Gulf countries by language that firms bear the worth of blood cash within the Kingdom. in keeping with the official spokesperson for insurance firms, Adel Al-Isa, blood cash augmented in Asian country threefold that augmented losses incurred by these firms.
He aforesaid insurance costs within the Kingdom area unit logical as a result of the augmented value of accidents additionally to the growth within the scope of coverage, in keeping with the unified document.
Al-Isa aforesaid costs increase on AN ANnual basis and typically each 3 to 6 months if there's an rising scenario. He aforesaid insurance firms don’t have any authority, and blood cash and obliging the businesses to pay it will increase costs.
He aforesaid the expected increase in costs can depend upon the insurance: If profits area unit created {there can|there'll} be no increase in costs and current costs will continue, but if losses area unit incurred costs area unit expected to extend.
He aforesaid previous costs were left to the estimation of every company, and there weren’t several accidents as compared with this time, that junction rectifier to the rise in costs.
He discovered that Gulf states area unit totally different from Asian country in terms of geographical house additionally to the existence of the unified document that isn’t applied in Gulf states.
There area unit concerning thirteen million vehicles, in keeping with recent official statistics, whose insurance is obligatory for one year and will be revived for 3 a lot of years.
He aforesaid statistics show that vehicle insurance solely covers forty five p.c of cars, and insurance isn’t all activated. firms are attempting to search out solutions to manage will increase in costs through fitting a mutual information and activating insurance annually.
Ahmad Al-Asiri aforesaid insurance is increasing year by year and justifications by insurance firms area unit obscure.
He aforesaid insurance against others within the Kingdom is obligatory and corporations area unit certain that purchasers can get insurance notwithstanding the value. He known as on relevant authorities to supply obligatory insurance rather than unifying costs for all classes.