Insure Your Home and Personal Belongings with Watania Home Insurance Policy
We all can relate to the saying “Home is where the heart is”. Our homes may look different around the world, but universally we cherish them. Even if our homes in the UAE are often only temporary that doesn’t mean that we don’t need to safeguard them as we would a home that we own. Homes house our loved ones and personal belongings, and security are much more than just remembering to lock the doors of your house; it’s also about locking in your peace of mind.
Getting a home insurance policy is the first step towards securing your home and sleeping better at night.
Home Insurance may not come up in conversation often, but it’s well worth shedding light on the topic. Why you may ask? A 2018 National survey reported that only 11% of people in the UAE have homeowner’s insurance [LINK]. This is an alarming statistic considering the spate of high-profile fires in Dubai that displaced many residents and caused others to lose the entire contents of their homes. So, what exactly is home insurance and what can you do to protect your home and your precious stuff? Read on…
What Is Home Insurance?
A Home Insurance Policy, also known as Property or Contents Insurance, safeguards the structure of your house and your personal belongings such as furniture, jewelry, et al in the event of the most natural and/or man-made threat or disasters, such as floods, earthquakes, fires, theft, and other unforeseen events. This type of insurance will compensate you for any financial losses incurred as a result of such events.
A Home Insurance policy ensures that you and your house are protected from unfortunate events. Usually, home insurance is covered under two categories: Home Owner’s Comprehensive Insurance & Home Contents Insurance. The difference is key. Home Owner’s Comprehensive Insurance covers both the loss and damage of your home and its contents, while Home Contents Insurance covers only the loss or damage of home contents, such as furniture, home appliances, jewelry, loss of or theft of money/cash, etc. It’s important to determine which type meets your needs to avoid overpaying or being underprepared for an emergency.
Why Do You Need Home Insurance?
As mentioned above, home insurance in UAE is still largely overlooked. But, considering how much you spend on rent and home décor not to mention precious keepsakes and heirlooms, a home insurance policy is a small price to pay for ensured peace of mind.
How small you may wonder? It can cost as little as AED200 annually.
Want to learn more about Home Owner’s Insurance and why you MUST have it—even if you only rent your home? Stay tuned…