In a fast-evolving housing market, property insurance in Saudi Arabia is no longer seen as an optional extra; it is becoming an essential part of homeownership and investment. As new developments rise across Riyadh, Jeddah, and Dammam, the choice of insurer directly impacts how secure families feel about their homes and how confident investors remain in long-term returns. With Vision 2030 driving real estate expansion, the demand for reliable and transparent insurance partners is growing stronger than ever.
Key Role of Property Insurance
Property insurance covers financial risks tied to fire, flood, natural disasters, theft, or accidental damage. While home insurance is not legally required in Saudi Arabia, most banks make it mandatory when approving a mortgage. So, this ensures that homes and apartments across fast-developing cities like Riyadh, Jeddah, and Dammam remain protected against unexpected events.
How to choose the right property insurance in KSA
The process of selecting the right insurer in Saudi Arabia involves a few essential steps:
- Check SAMA licensing: Only companies licensed by the Saudi Central Bank (SAMA) are allowed to sell property insurance.
- Review coverage options: From fire-only policies to comprehensive all-risk coverage, review what is included and excluded.
- Compare property insurance rates: Premiums vary by insurer, property type, and package. For instance, Tawuniya’s standard home package starts at SAR 500 annually with defined coverage limits.
- Evaluate customer service: Response time, claim settlement reputation, and branch accessibility are key decision factors.
- Look at add-ons: Some insurers offer extensions like liability cover, content cover, or earthquake protection.

Recommended Companies
Several insurers actively offer property insurance products under SAMA regulation:
- Tawuniya: Offers packages ranging from fire and theft cover to comprehensive home insurance, including mortgage-linked products.
- Gulf Insurance Group (GIG Saudi): Provides home and property coverage with flexible options tailored to apartments and villas.
- Walaa Cooperative Insurance: Known for its property all-risk policies covering fire, storm, and earthquake.
- Al Rajhi Takaful: Offers Shariah-compliant property and home insurance options with bank partnerships.
These providers are often considered among the best home insurance companies in Saudi Arabia due to their product variety, transparency, and reputation in claims settlement.
Types of Property Insurance
Insurance companies in Saudi Arabia provide several categories of property coverage:
- Fire insurance: Covers damage caused by fire or explosion.
- Property all risk: A wider policy covering fire, flood, storm, earthquake, and accidental damage.
- Theft insurance: Protects against burglary and stolen household items.
- Mortgage-linked insurance: Required by banks to protect financed homes until repayment is complete.
Understanding these types helps homeowners match their property’s risk profile to the right product.
Home Insurance Rates in Saudi Arabia
Home insurance rates in Saudi Arabia vary depending on the insurer, coverage type, and property value. Tawuniya, one of the leading providers regulated by SAMA, offers packages in partnership with SNB that highlight how flexible pricing can be:
- Silver Package: SAR 500 annually, covering up to SAR 500,000 (home only)
- Standard Package: SAR 699 annually, covering up to SAR 250,000
- Gold Package: SAR 950 annually, covering up to SAR 1 million
- Premium Package: SAR 1,550 annually, covering up to SAR 1 million with added benefits
- Platinum Package: SAR 2,000 annually, covering up to SAR 2 million
This tiered structure shows that homeowners can secure coverage starting from as low as SAR 500 while also having the option to upgrade to higher protection plans depending on their needs.
Secure your Property with Confidence
Finding the right property insurance company in Saudi Arabia ensures your home and investment are always protected. As you explore real estate opportunities across the Kingdom, let Bayut KSA guide you to the right property while you choose the right coverage to match it.
Start your search on Bayut-KSA today and take the next step toward safe and confident homeownership.