Insurance real estate — this powerful tool protects property interests, which acquires special significance in the dynamic market of the United Arab Emirates. An important element of such insurance is coverage of alternative housing, allowing for avoiding financial problems in cases when the home becomes unfit for living due to repair. In the article, we will analyze features, types of home insurance UAE policies, and advice on choosing an optimal option.
Creative approach to concept insurance alternative housing
Insurance alternative housing provides financing for temporary residence — true salvation when the home is unfit for life due to repair works. In UAE, where repair projects sometimes become epic in scale, the presence of such insurance — is not a luxury but a life necessity. Frequent capital repairs require temporary relocation, and without coverage, expenses may become substantial.
Diversity insurance policies with coverage alternative housing
- Comprehensive insurance housing (Home Insurance): Includes coverage alternative housing alongside protection structure home and personal property. It may be a standardized option or an additional one. According to estimates, about 68% of owners in the UAE prefer precisely this type of policy.
- Insurance contents (Contents Insurance): Focused on protection personal belongings. It often includes coverage of alternative housing and providing security during the restoration of housing. On average, 4 out of 10 policies contain this option.
- Combined policy (Combined Insurance): Covers both housing and contents — this ideal option for maximum protection. According to statistics, 52% of property owners in the UAE choose combined solutions.
Step-by-step guide to obtaining compensation for temporary housing
- Notification insurance company: Immediately report damage, requiring repair and replacement housing.
- Collection documentation: It is necessary to provide an expert assessment of damage and documents confirming the impossibility of safe residence.
- Verification and approval: The Insurance company checks the details of the incident and makes a decision within 15 days. For example, in 87% of cases, the decision is made positively. More about insurance.
- Receipt compensation: After approval, funds are transferred for payment of temporary housing, on average, within a week.
Scenarios, requiring coverage alternative housing: reality UAE
- Large-scale reconstructions: Need for temporary housing may arise when updating 40% of the structural elements of the home.
- Natural disasters: Flood or hurricane may make home unsafe. Such incidents constitute about 23% of all calls to insurance companies.
- Technical malfunctions: For example, failure electrical network. Statistics show that about 17% of requests are related precisely to this. More about natural disasters.
Analysis factors choice: your guide to ideal insurance
- Coverage amount: In 62% cases owners underestimate needed amount. Do not forget to check whether there will be coverage in your area.
- Policy details: Careful study of all nuances, including exclusions, helps avoid 33% possible unjustified refusals in payments.
- Reliability insurer: Positive reviews of clients and historical data on payments are extremely important.
How to choose a reliable insurance provider in UAE
- Checking license: 91% of providers obliged correspond strict standards licensing UAE; be sure that your choice corresponds to this.
- Study reviews clients: 73% of potential clients refer to reviews for evaluation reliability.
- Comparison proposals: Comparative analysis proposals from three companies may substantially increase your confidence in your choice.
Awareness about limitations and exclusions: what need know
- Validity period: Time limit may become stumbling block. 28% of clients do not expect a time limit of 90 days in some policies.
- Type works: Some policies do not cover cosmetic or planned repairs. About 19% of refusals are caused precisely by this.
- Maximum compensation: Make sure that the limit is sufficiently high for coverage of possible expenses.
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