UAE has been ranked number one country in the world with the least amount of crimes related to theft. That is why 98.6% of UAE residents feel secure and enjoy living here for years. For some expats who have considered UAE as their second home, it can be devastating to be left with nothing if an accident or natural calamity damages their property and valuable items.
This is where a home insurance plays a vital role in a Dubai Real Estate property.
Your house and all things in it could be the most expensive investment that you will ever have in your entire life and it is only logical to get it insured. In cases of theft, fire, flood, earthquake and other natural calamities, a homeowner’s insurance policy can cover your loss and damage on the following:
A home insurance is beneficial to owners of a Freehold property in Dubai. It can help you recover fast after a costly natural or man-made calamity and pay for the expenses of rebuilding your home, replacing damaged items, and repairing the contents of your property. If you are a landlord, you can tailor-fit and add a policy to cover your loss of rent while the property is damaged. Depending on the policy, homeowners can stay in an alternative accommodation while repairs are being done in the property.
If you are renting in Dubai, the landlord is responsible for insuring the property so you can only avail coverage for your home contents and personal belongings.
Even if UAE has the lowest rankings of fire accidents, home insurances are becoming in demand amongst residents especially those who own Dubai properties. Choose the insurance policy that fits your specific needs, preference, and most importantly, budget. Make sure you read the fine print and understand well what is covered and what is not before you sign any document. This will help you avoid any surprises when you are going to make a claim.
To avoid accidents or fire at home, work with a trusted property management team who can attend to the day-to-day business of maintenance, as well as handle any eventuality that may arise on your property. Rocky Real Estate can take over all headaches of landlords – including documentation, timely collection and deposit of rent included in their property management services.