Morocco Offers Up to 30% Car Insurance Discount During Lockdown

According to the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR), this premium reduction corresponds to an exceptional readjustment induced by the drop in claims during this period. For the same source, this provision comes in addition to a set of measures taken by insurance companies to facilitate the daily life of customers and alleviate their financial burdens in the face of the health crisis caused by covid-19.

Furthermore, the members of the FMSAR have decided to anticipate the measure and make it benefit all their individual policyholders, regardless of the nature and category of their vehicles, added the same source, specifying that this premium discount will be granted at the time of renewal between June 1, 2020 and May 31, 2021, on the sole condition that the vehicle has been insured during the confinement period.

According to the FMSAR, the total cost of this premium reduction for the insurance sector amounts to more than 500 million dirhams.