Riyadh-Mubasher: Saudi insurance companies increased premiums of the comprehensive and third-party policies by 100% for the land transport sector as of 2016, OKAZ newspaper reported.
The local insurance companies reconsidered the premiums of the comprehensive and third-party policies as of 1 January 2016, said Bandar Al-Jabri, head of land transport committee at Asharqia chamber of commerce.
He added that the comprehensive policy increased to 7% of the vehicle value, compared with 3.5% previously.
Meanwhile, the third-party policy rose to SAR 2,500 from SAR 1,200.
