Home content insurance starts as low as AED 200 a year covering up to AED 200,000. In light of the recent blaze at Dubai Marina’s Torch Tower, consider this: not having content insurance can literally mean you are out of a home suddenly. Home content insurance covers your valuables even you are away from your home.
Home content insurance: compare what’s covered
There are different types of home content insurance policies and you need to compare the details of each to understand how much of your property and valuables will be covered in the event of a fire or flooding. When shopping for the right policy, make sure you find out if your plan extends to personal belongings, contents and building cover so that you are not left with steep financial losses in case of an incident that’s out of your control:
• Personal belongings cover will only cover movable items such as jewelry and mobile phones.
• Contents cover will cover existing contents in your household such as furniture and other household goods.
• Buildings cover will cover the physical property such as villas and apartments. This is particularly important if you own your home.
Compare policies with loss of rent or alternative accommodation cover
The cost to you resulting from fires and flooding is not limited to the contents of your home. Whether you are an owner or a tenant, you could lose a substantial amount of money in loss of rent or alternative accommodation while your property is being repaired. Before you take out a policy, check whether these are included in your policy or if they are an option for which you may have to pay a higher premium. Several home content insurance policies cover loss of rent or the cost of alternative accommodation and the difference can save you some serious cash in an unfortunate event.
Editor’s tip: You may think that home content insurance is nice to have but you never know if an unexpected event such as a fire may take over your or your family’s home. Compare the different home content insurance policies available and find out exactly what is covered. Remember that buying a home insurance policy can take as little as 48 hours. So don’t take the risk of being uncovered for granted!