7 things you need to know about Home Insurance policy

Be safe than sorry; make sure you’re covered! A home of your own is the culmination of many years of toil from your side. It’s only natural that you want to protect it from any harm. Even though UAE is considered a safe haven from fire, theft, earthquakes or floods – it is still happening over the years. Many homeowners are now considering buying home insurance in UAE.

Many expats in UAE leave their homes unattended for extended periods & there is a possibility of water damage, theft etc. If there is no home insurance, residents will have to take up the burden of paying the expenses of rebuilding and replacing damaged items or even replacing damage to the contents and decor.

Understanding home Insurance – a guide


Home contents & personal possessions insurance – the difference

If you are living on rented premises you will need home contents and personal possessions insurance.

  • Home contents insurance covers:  Things that exist in the home – Appliances, furniture, and fine art
  • Personal possessions insurance covers:  Valuables carried outside the home like electronics and jewelry.

Renters can avail home contents and personal possessions insurance. On the other hand, it is the landlord’s responsibility to have an active building insurance policy on the apartment or villa itself.

Budgeting Home Insurance

Building insurance is exceptionally cost effective when compared with vehicle insurance! Make a rough estimate of the value of your possessions and contents before you request a quote. Please take care not to overestimate or undervalue your home.

Excluding the price of land

Generally, people make the mistake of including the price of land when calculating home insurance. This will result in over-estimating and will cost more on insurance premiums.

Common misconceptions

Not everything in your house is covered by default in a home insurance plan. Valuable items like jewellery and art pieces are covered only if you have the personal belongings cover in your policy.

Buying Home Insurance

There are many licensed insurance companies in the UAE offering home insurance plans. But, not all of them are alike. Carefully review the home insurance covers & read the detailed policy wordings before you sign up. Also enquire about the documents needed to file a claim.

Use discounts & offers

Check for maximum benefits or special discounts when choosing a home insurance plan.

Policy invalidation

When you stake your claim, it could be rejected in case you are leaving the house unoccupied for more than days stated in the policy; neglecting home maintenance; providing false facts while making a claim; not securing the house properly; not reporting theft to the police etc.




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7 things you need to know about Home Insurance policy
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