Car Insurance - Sharia policies for Muslim motorists - 21/10/2008

An estimated 600,000 Muslim motorists will be offered ethically and co-operatively based car insurance policies that are Sharia compliant for the next two years, says insurer.

AutoWindshields (UK), specialists in windscreen repair and replacement announced that it will be helping policyholders of Salaam Halal Insurance, the trading name for the London-based shareholder-owned Principle Insurance Group to obey the teachings of Quran.

AutoWindshields (UK) director, Barry Donaldson said: “This major contract is testament to our client specific pricing method and the excellent performance of our 60-strong highly trained nationwide fleet of fitters that enable us to provide the quickest average response time in the industry at a customer’s home, workplace or wherever it is needed.”

According to reports, Salaam Halal Insurance provides the same services as a conventional company however, it cannot invest in organisations linked with gaming, alcohol or pork. At the same time, it cannot take financial risks or speculate with revenue.

Salaam Halal Insurance, the trading name for the London-based shareholder-owned Principle Insurance Group also applies Takaful principles that allow the spreading of risk between policyholders, who contribute to a pool of investments where all claims are settled.

Takaful principles also ensure that any extra cash is distributed as a discount on the following year’s premium.

Principle Insurance claims director, Trevor Webb said: “We proposed Auto Windshields on the strengths of its flexibility, commercial terms and demonstrable ability to meet all our service level agreements.”

Bookmark with:
  print Print Preview   email E-mail to a friend
 
Comments
Not comments have been posted yet.
 
Do you have something to say? (maximum comment length of 250 characters)

Post your comment
 
 
 
Related News
  15/01/2010 - Be careful when driving, warns insurer. A car insurance provider has urged motorists to be extra careful when driving this...
08/01/2010 - Drivers urged to not leave motors warming up. The police force has warned drivers who leave their cars running to heat up...
04/01/2010 - New ABI guidance to benefit UK car insurance customers. Insurance industry body the Association of British Insurers (ABI), has released new guiding points...
 
Related Guides
  Car insurance savings. Car insurance savings Car Insurance Savings Find a cheap car insurance policy Classic car...
Classic car insurance. Classic car insurance tips Car Insurance Savings Find a cheap car insurance policy Classic...
Finding a cheap car insurance policy. Find a cheap car insurance policy Car Insurance Savings Find a cheap car...
 
Related Articles
  Car claims up 40% due to snow fall. The recent snow fall and freezing conditions has led to several motorists leaving their...
How to save money when buying car insurance. In these tough economic times, getting a competent car insurance policy is very important....
The legal requirements for car insurance. Young drivers in the UK are not aware of the fact that car insurance...

Car Insurance News
18/01/2010 - Fines up to £1,000 if caught without car insurance. One of the most difficult issues at present for...
Read More
15/01/2010 - Be careful when driving, warns insurer. A car insurance provider has urged motorists to be...
Read More
11/01/2010 - Car insurance claims rise as the snow falls. One of the UK's largest insurance organisations has reported...
Read More
08/01/2010 - Drivers urged to not leave motors warming up. The police force has warned drivers who leave their...
Read More
More News >>