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Insurance Basics For Those Looking At Apartments For Rent In Dubai

Insurance is like an accessory that no one seems to need

, except when they truly need it. The UAE is largely comprised of a dominant expat population. Some of the standard things on all those arriving into the country are: the job that they are to join, having a roof above their heads and a vehicle for transportation.

In their search for their dream Dubai apartments for rent, most tend to overlook the fact they need insurance not just for their homes but also for the belongings that they store within them. Many are reminded of this folly through an unfortunate calamity, by when it is already too late. A calamity doesnt always come with a warning. It tends to come in unnoticed and strikes when least expected. Irrespective of the fact that it was an accident or negligence that was the cause behind it, the damage is already done. Another reason thats frequently cited for the absence of insurance is that most expats tend to look for apartments for rent in Dubai.

Fire or water damage can occur at any time and it is always wise to have a comprehensive insurance solution at hand. Residential Insurance policies tend to come in two forms. One offers protection for the physical structure of the property and is required by most owners. The other insurance type is the home insurance policy that covers loss or damage to the articles that are found inside a home. Such policies usually cover damage to furniture, fixtures, kitchen equipment and other household articles. Sometimes, despite all the necessary precautions being taken, one can fall prey to damage by an untoward reason. In such cases, the standard procedure is quite simple:

Report the damage at the nearest police station

File a report assessing and listing the damage done

In some cases, one may be asked to provide documentary evidence of the damage caused

Present the report by the police and the damage report to the insurance provider together with a valid insurance policy

The insurance company shall then examine the veracity if the claim and payout the sum insured, if it deems the claim to be a genuine one

Insurance payouts usually tend to take around four/five weeks to reach the policy holder

Tenants who feel justified in demanding that it is the landlord who needs to insure the property and that it cannot be levied on them, might just be missing out on the bigger picture. Most policies cost anywhere from 0.5% to 2.5% of the value being insured. Hence it is imperative that one chooses a plan that provides maximum cover for the belongings being insured. After all, it is but a small price to pay for enjoying the peace throughout the year.

by: Alfrenzo Rodrigz

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