UAE insurance companies confirm property owners rights in rain damage cases

Asma Ahmed - | UAE

Officials from two insurance companies affirmed that property owners of residential homes, commercial buildings, and industrial facilities covered by insurance policies have the authority to address any damages resulting from rain or weather fluctuations.

They highlighted the existence of a comprehensive insurance policy that encompasses all risks, including rainwater leakage, fires, lightning strikes, and natural calamities.

They clarified that for private residences and villas with comprehensive insurance coverage, specific clauses in the insurance documents address such circumstances. Moreover, they emphasized that obtaining insurance against fire and other hazards is a prerequisite for licensing multi-storey buildings.

Emphasizing the significance of this type of insurance, particularly in light of unpredictable weather conditions, they noted its affordability and accessibility. Insurance premiums are calculated as a percentage (out of a thousand) rather than (out of a hundred), with annual costs not exceeding, for instance, 500 dirhams for home contents valued at 60 thousand dirhams.

Mohamed Mazhar Hamada, General Manager of Al Ain National Insurance Company, underscored that private residences and villas are covered by comprehensive policies, providing protection against various risks, including rainwater seepage. He highlighted the simplicity of insurance premiums, with costs determined as a percentage of the insured amount.

Hamada also highlighted the insurance coverage for buildings against fires, lightning, and natural disasters, underscoring its affordability and widespread adoption among property owners.

Nader Qaddoumi, General Manager of Buhaira Insurance Company, echoed similar sentiments, emphasizing the comprehensive coverage provided by insurance policies for all types of real estate. He stressed that the fundamental principle of such policies is to address all damages, including those resulting from rain or other sources, unless explicitly excluded in the policy clauses.

Qaddoumi also reiterated the importance of having such insurance coverage, given the unpredictable nature of weather conditions, and emphasized its affordability and accessibility to property owners.

Overall, insurance companies offer comprehensive coverage to address various risks associated with real estate, providing property owners with peace of mind and financial protection against potential damages.

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Asma Ahmed
Asma Ahmed
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