New Policy: Omani Government taxes safe drivers to subsidise young idiots

Ever noticed how incredibly expensive it is to insure a car in Oman? Its not because of Gonu making flood a big risk, nor is it (just) the super high rate of accidents on Oman. If you are an experienced driver over the age of 25, with no history of accidents or making claims, you are being effectively taxed to subsidise the insurance for an 18 year old male in his nice new high performance car.

Yep. In another brilliant Government sponsored initiative, this year the Oman Insurance regulator [the CMA] introduced a new policy, and a new mandatory proposal form. Car insurers in Oman are no longer allowed to ask the sort of important questions you would face if buying auto insurance in most countries, like how many accidents have you had, speeding tickets, who will be driving the car, etc. The insurers are also not allowed to restrict insurance to only drivers over a set age (regardless of the type or cost of the car), and they have been told that under no circumstances can a claim (even for damage to your own car, let alone the third party) be declined for non disclosure.

Now, the insurance companies still need to make money, even when they are forced to insure 18 yr olds who have a history of accidents and are driving nice new Dodge Chargers or Porsches.

So, what that means is the difference is coming from the rates they charge everyone else, including you, even if you are 50 years old, have never had an accident, and drive a Toyota Echo. It also means the insurers are fighting to try and skew their insured population as far as possible away from higher risk drivers, while staying within the regulations.

But, gee, thanks CMA. Like my insurance wasn't high enough already because of these young idiots risking my life and limb, now I even have to subsidise their adventures.