Tecom embarks on its next phase of growth
Over the weekend, the UAE was hit by heavy rains and gusty winds, damaging cars and homes. A video shared by weather monitoring account Storm_ae showed trees falling on the vehicles during the rain, damaging the car's windshield. Hail and strong blowing wind shattered car windows and glass of some of the buildings.
This has left several residents wondering whether their insurance will cover their damaged vehicles. Motorists are advised to avoid parking in low-lying and waterlogged areas during rains as damages to engines are usually not covered by most insurers.
However, insurance industry executives say that car owners can claim insurance if their vehicles are damaged after submerging fully or partially due to the heavy rain.
But if the car has been parked in a waterlogged place, resulting in damages to the car's engine, then the vehicle owner may not be able to file a claim from the insurance company.
Industry executives advise motorists to buy comprehensive insurance policies which cover towing, road assistance and other facilities, as these services come in handy in the event of heavy rains or if they are stuck on a flooded road.
However, when it comes to home insurance, insurers say that most policies cover damages due to rains, but it also depends on the packages chosen by the individual.
Insurance firms are said to have started receiving claims from residents a few days after the rain. Insurance brokerages and firms claim that it can take a few weeks to months to settle claims, depending on the damages.
It's strongly recommended to have home insurance because it protects residents' assets and other content of the house.
ALSO READ:
Tecom embarks on its next phase of growth
Loyalty schemes, AI and customer retention will be key
Transaction value expected to hit $29.75 billion this year
Overall volume of digital payments in Mena has grown nearly seven-fold since 2020
In 2023, total consumption of gold in the UAE reached 39.7 tonnes
Maritime India Vision 2030 envisions investment of Rs1.25 trillion
Profitability, cash flow and capital expenditure guidance reiterated
Swiss pharma firm has an annual capacity of 250 million tablets