Why it is smart for UAE residents to get home insurance – Khaleej Instances
Comprehensive home insurance in the UAE is so cheap that it starts at Dh1 per day.
Home insurance is not expensive, but breakdowns due to natural disasters, accidents or malicious intent can certainly be! While the list of compelling reasons to get home insurance is long, home insurance is often neglected by the people of Dubai.
If you are one of those expats who think you don't need home insurance because you live in a rented apartment, you need to think again. Even if your apartment / villa belongs to the landlord, you own the household items that require insurance cover.
For a relatively low annual fee, people in Dubai can secure their homes through building protection (both apartments and villas against damage and breakage of fixed and sanitary facilities and more), household protection (including loss or damage to household items such as furniture, appliances, televisions, carpets, etc. .) and personal items (including jewelry, cell phones, laptops, watches, portable devices, etc.). The residents of the region can calm down from fire damage, accidental damage, damage from rain, damage to fittings or theft of their property.
In the worst case, household contents insurance or household contents insurance is not expensive at all compared to the costs of refurbishing the entire apartment. Rather, the fact is that it is not worth taking a risk, as comprehensive home insurance is so cheap in the UAE that it starts at Dh1 per day. If the private individuals weigh the benefits of home insurance against the costs of home insurance or home insurance, they can absorb the financial burden with low costs.
Although the UAE is known to be a relatively safe country, incidents such as fire and theft can still occur. A house fire or air conditioner leak can result in thousands of dirhams being spent on repairs. With a home insurance or home insurance you can protect all your belongings and save your hundreds of thousands of dirhams. Home insurance or home insurance is highly recommended to secure your most important assets at an absolutely affordable price. For Dh60,000 household contents insurance plus Dh5000 personal property insurance it will only cost you Dh200 per year. These numbers vary depending on what valuables you are insuring and your home, but it's worth taking a closer look.
The home contents insurance you need to take out depends on what you own. So whether you are the owner of a high-rise, villa, or low-rise apartment, you need to get building insurance to protect the property against structural damage. If you live in the property (as an owner or even a tenant), you will need to get home and home insurance to protect against loss or damage to your property. Another truth you need to know is that UAE law requires landlords to offer property insurance if their homes are mortgage.
Before taking out home contents or household contents insurance, residents should make sure that the amount of coverage is correct for their household. You need to ensure that you are getting the greatest possible protection at the best price after reading all of the terms and conditions to determine which items and types of damage are actually covered by the policy. Also, read the fine print to understand when the insurer might deny your claim if your negligence resulted in damage.
Since disasters can happen at any time, it is imperative to get insurance for your property before a disaster strikes.
Neeraj Gupta is the CEO of Policybazaar UAE