29 09 2020

Insurance in Dubai, the United Arab Emirates. Part 1

Insurance in Dubai, the United Arab Emirates. Part 1

If you have decided to use insurance services in the UAE it is important to choose the right rate.

If you are thinking about insuring your property in the United Arab Emirates, then in this article you can find out the main points on this issue.

How to find and select the conditions you need?

1- The first and easiest step is to review insurance companies and brokers on the internet. It is necessary to familiarize yourself with the services and prices they provide.

When it comes to applying for insurance, it can be done easily, quickly and without leaving home. An application is submitted online on the company's website.

2- Depending on whether you own real estate or rent, the required type of policy is selected.

If you own real estate and want to rent it out, then you only purchase “object coverage”. And as for the property that is inside, then its safety lies with the person renting the premises.

3- If you are renting premises, it is better to consider insurance of personal belongings and property located inside the premises.

Domestic or household property includes furniture and all objects that are immovable in the house. Personal belongings include phones, jewelry, watches, laptops.

4- Analyze the policies related to your category and choose the most suitable one for your purposes.

5- An important point is the amount of compensation in the insured event.

Here the task is to carefully analyze the internal property so that the cost of replacing the property does not exceed compensation.

What cases are insured?

Home insurance usually covers the following accidents: explosions, floods, lightning strikes, fires, earthquakes and other events that result in property damage. But be especially attentive to the small print and study it carefully. You must 100% know all the requirements and conditions of the selected policy.

Wear and tear services are not included in the policies!

The pipe that has leaked belongs to the base technical maintenance and does not provide compensation, but if property is damaged as a result of flooding, then the value of the property is reimbursed in accordance with the terms of the policy.