JEDDAH: Drivers must pay insurance premiums based on their accident records, to ensure a more equitable pricing system in the industry, say experts.
Saleh Al-Jabr, head of the insurance committee at the Eastern Province Chamber of Commerce, said moves are underway to get complete information on drivers seeking insurance, in cooperation with the traffic department and insurance firms.
“How can we provide accurate and fair prices between those drivers who are reckless and others who have had no accidents over the period of their insurance coverage?”
He said it was also important for qualified people to make valuations of car accidents. Automobile shops should not be involved in this process, he said.
Saud Al-Dakheelan, a specialist in the insurance sector, said the recent increases in insurance policy prices has not been met by an increase in the quality of services. He said a driver’s accident history must be linked to his number of accidents.
The Saudi Authority for Accredited Valuators (Taqeem) has launched a series of workshops with the insurance sector and the traffic department on the valuation of old, new and damaged vehicles, to prevented biased and personal interpretations.
Saleh Al-Jabr, head of the insurance committee at the Eastern Province Chamber of Commerce, said moves are underway to get complete information on drivers seeking insurance, in cooperation with the traffic department and insurance firms.
“How can we provide accurate and fair prices between those drivers who are reckless and others who have had no accidents over the period of their insurance coverage?”
He said it was also important for qualified people to make valuations of car accidents. Automobile shops should not be involved in this process, he said.
Saud Al-Dakheelan, a specialist in the insurance sector, said the recent increases in insurance policy prices has not been met by an increase in the quality of services. He said a driver’s accident history must be linked to his number of accidents.
The Saudi Authority for Accredited Valuators (Taqeem) has launched a series of workshops with the insurance sector and the traffic department on the valuation of old, new and damaged vehicles, to prevented biased and personal interpretations.
