Alsuwaidi bagged a second gold for the Emirates in the Adults Male -56 Kg category as Thailand topped the medal table on day one
A majority of expatriate tenants shun home insurance as they feel the UAE is safe and owing to their transient stint here. However, accidents like fires and floods can cause huge damage. Consider this: In 2015, there were 188 fires in residential units in Dubai - that's one fire every two days. Also, the recent thunderstorms in the UAE left many residential and commercial units flooded.
The lack of awareness and aversion to spend have resulted in the majority of buildings in Dubai being under-insured. If it's the cost that's making you procrastinate, think no more: home insurance can cost you as low as Dh19 per month, and can protect your property, belongings and home contents from very common accidents.
"The number of requests for home insurance on our website has doubled since the Sulafa Tower fire," says Bana Shomali, CEO of home services website MoveSouq.com.
Tenants and homeowners in the UAE should, therefore, waste no time and quickly take out insurance policies for both their homes and personal belongings.
Five common accidents
MoveSouq.com and Qatar Insurance Company (QIC) UAE have joined hands to shortlist five common accidents that a standard property, home contents and personal belongings insurance can cover.
A standard property insurance covers for an accidental house fire, one of the most common claims for home insurance in Dubai. Remember that cigarettes, unattended candles and electric fires can put your homes at risk. A property insurance can reimburse you for the repair costs and, crucially, provide you with alternative accommodation while repairs are being made.
Up to 80 per cent of Dubai apartments complain of maintenance issues each year. Bursting water heaters and leaking pipes are a common maintenance issue in Dubai. If there is any damage to your furniture or floors from an exploding water heater, burst water pipe or leaking water hose, your property and home content insurance can cover it. However, make sure that your furniture has been declared in full when you purchased your policy.
A home insurance policy will also protect your property from flooding and damage due to the elements. You can expect to be reimbursed for your repair costs and also get alternative accommodation while repairs are taking place.
Also, the next time you drop your smartphone and the screen cracks, for instance, know that you can get cash back if you have taken out personal belongings insurance. These also include personal electronics such as phones, laptops and cameras. Just make sure to declare the phone's value in your policy with its serial number.
Personal belongings insurance will also come to your rescue if your phone or laptop get stolen. If you have a police report on the theft, your insurance company will reimburse you for the value of the items stolen. This coverage is worldwide. Just declare your items upfront when you buy your policy along with their serial number.
- deepthi@khaleejtimes.com
Alsuwaidi bagged a second gold for the Emirates in the Adults Male -56 Kg category as Thailand topped the medal table on day one
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