Understanding Insurance

Good initiative.  Advice and insights are totally fine but for any commercial purpose, you can post in the classifieds section of the forum and / or deal in private messages in line with forum rules.

Thanks and confirmed.

Main purpose is share of knowledge on non-commercial basis.

Motor Insurance

Motor Insurance is compulsory requirement for renewal of any motor vehicles istemara and even if not renewed as long the vehicle is driven on the roads or parked in public area the vehicle must be insured.

Motor Insurance comes in two major categories:
1- Third Party (TPL) : This covers damage caused by an accident to other individuals and properties. Premium differs based on use, number of cylinder and vehicle type.
Insurance companies are obliged to offer TPL to any vehicle licensed in Qatar

2- Comprehensive Insurance : This insurance provides TPL cover + Cover for damage to own vehicle. The cover is having limitations and mainly available for vehicles less than 10 years old. Older vehicles may be availed comprehensive insurance subject to prior approval from Insurance company.

3- What the basic Comprehensive Insurance does not cover
The basic comprehensive insurance does not cover. Some of these can be covered subject to additional premium
1- Storm or flood damage
2- Intentional damage caused by owner
3- Accidents due to DUI. While the insurance company will be obliged to cover third party damage but they have right of recourse against the driver
4- Fraudulent claims
5- 100% cost of replacement of damaged parts for vehicles over 1 year old. Co-payment should be expected
6- Agency repair for vehicles over 1 year old.

Are prices quoted per month or per annum? Some websites provide estimated insurance on vehicles, but it seems either cheap or very very expensive. What is an indicative cost? Eg ,5% of value or 1% of car value etc. I understand that there are factors that vary from person to person, I'm after a rule of thumb figure. Thanks

As per Qatar Law all prices are per annum only.

The Third Party Premium is fixed by law and depends on number of cylinders per vehicle, its type and its use. For commercial vehicles there will be an additional charge per passenger.

Comprehensive Insurance premium rate differ by company, cover (include flood for example), vehicle type and use. Sometimes loss history may affect the premium.

Unfortunately, there's no rule of thumb to the rate as it fluctuates based on individual company policies and market conditions that might drive the premium up or down.

My personal recommendation is "when it's unreasonably cheap it's unreasonable to purchase".