– Coverage limits: The amount of coverage contained in the document or the market value of the vehicle at the time of the accident, whichever is less, represents the maximum liability of the insurance company for compensation. Be sure to inform the company of the real estimated value of your vehicle at the time of insurance. A compensation document and not an enrichment. – Consumption ratio: The idea of depreciation applied to the subject matter of insurance is basically based on the principle of compensation, which aims at placing the insured in the same financial position as before the loss was achieved. This method is widely used by insurance companies as a means of compensating for the actual value For the damage caused by the covered loss, taking into account the useful life of the spare parts consumed. Example: If a car is damaged, the car will be damaged after six months of insurance, and the value of the car is 100,000 riyals. When purchasing the insurance policy, the insurance company will not compensate the insured for the full amount. For a period of six months. – Deduction of non-claim
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