The Saudis are hardly concerned about their homeowners' insurance

Despite the low annual cost of homeowners’ insurance (5000 SAR, 1 335 USD on average), few Saudis ensure their homes, and even the recent floods that hit the country have not attracted any more people, either. According to experts, very few citizens and small and medium enterprises realize the merits of such coverage.

During the past three years, insurance companies have increased the tariffs of motor and health insurance without ever revising those of homeowners' policies. Authorities failed to take any initiative to raise awareness among the population about this type of coverage. They lack any statistics on the losses and damages sustained by the uninsured homes.