Whether you own a small flat, a duplex, a bungalow, a villa or anything else, the beautiful yet dream home remains incomplete if you do not think about insuring the building, its valuables and furnishings properly. However, before you should seek policies related to home insurance in Dubai, you have to understand that the selection of an insurance policy depends on who you are, as we have discussed in this blog post.
Owner’s Liability Policy
According to the homeowner’s liability policy, you get insurance coverage in the case of any accidental injury caused to any person and damage to any property. However, when you fill the form, you should make sure valuing the building in accordance with its re-building cost, as most of the insurance companies use the respective value while you make claims. You should keep in mind that re-building cost is often low as compared to the market price or purchase price of your property. Because of this, if you price it at re-building cost, you end up paying a relatively less amount of premium.
Loss of Alternative Accommodation or Rental Loss
Under the home insurance in Dubai policy related to rental loss or loss of an alternative form of accommodation, a policyholder has the right to claim specified limits of money related to his/her selected policy.
Liability of a Tenant
If you are a tenant of any property, say a flat, an apartment or a bungalow, you should never forget getting a suitable tenant liability-based insurance policy. The main role of this policy is to give you coverage in the case of any accidental damage to the building of your property owner.
Article Limit Policies in Dubai
Along with the insurance policies available for tenants, property owners or both, home insurance providers in Dubai offer an additional type of article limit policies for its policyholders. According to this, the insurance policy will list each of the personal belongings of the policyholder and related contents, provided their values are higher than the specific value mentioned in the chosen insurance policy.
Especially contents refer to each of the items found in your home and they are of immovable objects. These include kitchen and bedroom appliances, cabinets and dining table. Even though if you do not know or remember the exact costs, you should provide an approximate value of the contents present in your property.