Different Types of Insurance coverage in Saudi Arabia
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Different Types of Insurance coverage in Saudi Arabia

If you go to Kingdom, you will need health insurance coverage in Saudi Arabia. In addition, your employer should arrange this.

The Council for Cooperative Health Insurance (CCHI) supervises the country’s insurance system. He says all private sector companies should provide coverage to workers and their dependents. Even so, owning one is still beyond the reach of the average person.

There are currently twenty-six health insurance companies operating in Saudi Arabia. In addition, the average premium SAR is 1,759.

Employers’ insurance policies can only provide basic coverage (for example, no dental coverage), so many foreign workers work with more comprehensive private insurance.

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(1)- Motor Insurance:

Already, one of Saudi Arabia’s most important insurance markets, motor insurance, is forecast to grow in the coming years. The main reason is that Saudi women can now drive legally.

Under Saudi Arabian law, you must take car insurance instead of the driver, including the owner or authorized driver. All vehicles should have at least third-party liability insurance. It covers all costs incurred by a third party in any event.

You can buy additional coverage, e.g., against loss or damage to your vehicle, up to a specific price. It is usually SAR 10,000. Alternatively, you can purchase fully comprehensive insurance that covers all costs, including fire, theft, and accidents that were your fault.

The maximum liability claim on all Saudi policies is usually 10 million SAR. Annual premium costs will depend on the price of the vehicle and the driver profile. Approximately third-party liability starts at approximately SAR 800 (approx. 5 215) and fully coverage at around 2500 SAR.

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(2)- Health Insurance:

Health insurance is a must for all residents of Saudi Arabia, and it is the largest insurance market in the kingdom. While Saudi nationals have free public health insurance, foreigners must take out private health insurance.

Employers often arrange this insurance. Many private insurance companies in Saudi Arabia offer schemes that cover more than one employee. However, if your Saudi employer does not cover you or wants higher coverage than the one provided, you can purchase an individual policy. Private packages vary but usually cover essential GP and hospital treatment, emergency treatment, and maternity expenses. However, you need coverage for things like dental care and specialist treatment.

(3)- Social Insurance:

Saudi Arabia has a mandatory participatory social security system, although it does not cover everyone. In addition to private-sector employees, some public sector employees pay monthly insurance taken directly from their salaries.

Self-employed workers can choose to enroll in a social insurance scheme voluntarily. Social security payments in Saudi Arabia go as follows:

  • Your pension
  • Disability benefits
  • Survival benefit
  • Work-related injury costs
  • The benefit of unemployment

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(4)- Travel Insurance:

If you live in Saudi Arabia and want to travel abroad for personal or work purposes, you may consider buying travel insurance. Most insurance companies offer this, so shop for a good deal.

Travel insurance can cover a variety of expenses, including:

  • Cancelled or missed flights
  • Lost or delayed equipment
  • Treatment costs;
  • Emergency accommodation costs in case of overseas
  • Third-party liability costs

Premiums depend on the coverage limit. You should check the extent of medical coverage as this often includes only limited emergency treatment. In addition, global health insurance can cover many medical expenses, so make sure you don’t buy the same thing twice.

Also, check for exceptions. For example, extreme sports activities or high-risk outings are usually not included unless you pay extra. Costs can be anything between SAR 50 and SAR 1,000 Plus, depending on what you cover. It will also depend on:

The length of insurance coverage can range from a few days to an annual or bi-annual coverage.

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(5)- Accident Insurance:

It covers the risks associated with unforeseen accidents. Because social insurance does not cover everyone in Saudi Arabia, many people are vulnerable in the event of a severe accident.

Coverage may include:

  • The cost of being unable to work, either short-term or long-term, due to an accident
  • Treatment costs,
  • It includes expenses related to death in the event of a fatal accident.

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