Questions to ask your Broker when shopping for car and home insurance in Dubai?

Image source: dubaimetro.eu

Image source: dubaimetro.eu

Auto Insurance Dubai:

  • Why have my rates gone up when my vehicle is older than last year?

The premiums are not only based on the vehicle itself, they are based on driving experience, driving record and previous accidents.

  • What can I do to bring the cost down?

Ask your broker about any discounts you are qualified for this year or  if you can change any type of coverage like a deductible.

  • Am I qualified for any additional discounts this year?

If you have you home insured with your auto, you can get a multiline discount and possibly more.

  • Why are the rates so high for my son?

Most statistics show that young drivers, are involved in more accidents than those with more experience.

  • My car is only worth AED 10,000, why is my comprehensive insurance AED 1000? That is a 10% rate.

Comprehensive insurance in Dubai is subject to minimum premiums which must be charged regardless of car value. This is usually around the AED 1000 mark.

  • What are these new medical benefits? Are they mandatory? If you only had one question you could ask your broker, this would be it.

Accident Benefits are a very complex and you will find there are    different layers consisting of injuries, medical care, long term health issued. You should call and make an appointment with us for a breakdown of what coverage you have.

  • Can I increase the limits and the deductibles on my policy?

Yes to both, sometimes any additional premium is wiped out by the credit you will get increasing your deductible.

  • Does the alarm system on my vehicle lower my rates?

Yes, but in two different ways, first, the alarm system put in the vehicles by the manufacturers; have already been taken into consideration when originally assigned a vehicle code. Secondly, alarm systems you put in the vehicle will probably give you a discount. It is wise to check with your broker to find out the make of the system, as some do not qualify.

Home Insurance Dubai:

Image source: emirates247.com

Image source: emirates247.com

  • Does my coverage allow me “new for old” personal belongings

Yes within reason. It is best to video your inside belongings and keep receipts for high value items.

  • Do I have the highest Liability Coverage in case someone sues me?

This is very important. If you feel you need more coverage, and you are already at maximum limit, inquire about an “Umbrella or an Excess Liability” policy.

  • What if I have to leave my home because of a fire. Would my temporary living costs be covered

Most homeowner polices do have that type of coverage built in to the policy. That coverage is worth the premium in itself.

  • Are there any discounts on the home policy?

Yes, if you insure your home and auto with the same Company. Each company has its own.

  • I have expensive jewelry. Is there a limit on the policy.

There are limits with different insurers, your broker will be able to give you the advise you need to insure jewelry properly.

  • Do I have the best rates or is there another company that has lower rates that I can move to?

We provide the best coverage and rates of any insurance company in the area.

  • If I have an alarm, do I get a discount.

Yes most insurers will offer an alarm discount with receipt of an Alarm company certificate.

  • If I am traveling, should I have someone checking my home?

Yes, you should not leave your house unattended for more that 4 days. Other than the obviously reasons, the concern is the water pipes are not leaking.

Liability Insurance Dubai

  • My dog bit the guy next door, he said he may sue us. Do we have coverage for that?

This is the type of situation that you need the personal liability insurance.

  • I knocked over a glass of red wine on my neighbors carpet – can i pay for the cleaning under my policy

This would fall under your homeowners personal liability for property damage.

  • I drove my car into my neighbors garage, he is not happy.

Yes there is coverage; it would be paid through your auto policy.

  • The tree in my back yard fell on the same neighbors pool, and now he is really unhappy.

Yes, you can inform him that your insurance will take care of the damage.

You can visit insurancemarket.ae to learn about the best deals on your car or home insurance in Dubai.

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Swimming Pools and Home Insurance in the UAE

Image source: dubaigolf.com

Image source: dubaigolf.com

Swimming in the pool, starting up the barbecue, cool refreshing drinks, great friends, kids, and at night maybe the hot tub. Back yard affairs are just a wonderful time to be had.

You want to keep the ambiance of your back yard your with friends happy and safe, here are a few reminders:

  • When you buy your home or put in or put up a pool, you should advise your Insurance Company for liability reasons.
  • Ask for the highest liability you can get on your home insurance policy.
  • Keep anything a child could climb up away from your fence.
  • A fence of at least 4 ft. It should be put up around the pool with a locked gate. If you have a huge yard with a fence, it doesn’t hurt to put an additional fence around the pool itself. You don’t have access to your neighbors yard or anything a child could climb up over.
  • There should always be an adult present when there are children in your yard or around the pool.
  • Preferably, if one of the neighbors children are over in the pool, you should make it a rule that one of their parents be there to watch them. It is hard to watch 5 or 6 kids in the water. You do not want that responsibility.
  • Children should always have water wings or small life jacket while near in the pool.
  • Advise your insurance company if you have a hot tub in your yard. The safety rules for tubs are the same as the pools, however they have the lids which, if a child falls in, you might not even realize they are in there.They need to be locked.

INSURANCE – WATER FEATURES

Water features are especially a delight to those little tykes, it is to easy for a child to fall in. For the most part, they are not deep, but they are a hazard to a small child. It may be an idea to advise your Insurance Company about having one in the yard.

Many people wont tell the insurance company they have a pool or hot tub because it is just going to cost them more money and they can’t afford it. If you can’t afford it, refusing to disclose a pool or pond could void out your insurance. If you think of the millions you could have to pay on your own if sued, an extra AED 100 or so doesn’t sound to bad.

Each year there are countless children who drown tragedy in the family pool. It happens in seconds. Have your family take CPR classes to make your environment stays safe. Take any CPR course and they will tell you to keep directions handy near a pool, just in case something happens and you need to know.

You can talk to Alfred at InsuranceMarket and your personal shopper will have your swimming pool or water feature added to your home insurance policy.

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Home Inspections for Insurance in Dubai

Image source: telegraph.co.uk

Image source: telegraph.co.uk

If you are going to buy an older type home, the cost of purchasing the house would depend heavily on the value of the building. Inspections are the best way to find any problems that you may not see when touring the house. It is wise to have this done when you are buying a used home. The age and condition of the house, will allow the insurance company to put a price on the value.

These are a few problems that you may not see walking through the house, but there could be other problems, like the wiring that is not up to code. The insurance company could decline to give you home insurance because of the results of the inspection.

A few major considerations the Insurance Company would look for when they receive an inspection report.

  • Wiring – The wiring in the house must meet company standards. An example would be if you have aluminum wiring or the house is running on a 60 amp service. It is usually frowned upon because of the amount of electrical use in a house. Forty or fifty years ago, there would be no problem because the electronics had not been even made at that point.  If you take a look at what you use the electricity for, the electronics, like televisions, PVR, games like WII, stove, oven, vacuum, washer driver. It is a fire hazard these days to have a 60 amp. You should have a 100 amp or 250 amp system to avoid it overloading and catching fire.
  • Roof – If the peeling of tiles on the roof could create water damage or actually start the rotting of wood. An insurance company can request that you have it repaired within a period of time after you purchase it.
  • Water – Drainage from the gutters on roof. Continued water coming down at the side of the house, can cause foundation problems. Water damage can occur anywhere in the house. It can come from roof, windows, cracks in the foundation.
  • Floors – any type of sloping that could be a sign the or floors rotting under covered floor.
  • Structural Damage – Insurance underwriters would request a more detailed description of the situation before agreeing to insure the property.
  • Security – The house should be doubled locked, one with a turn key and one that has a dead bolt and proper locks on the windows if they be opened.
  • Stairs – Some insurers require a hand rail if the stairs are more than 3 steps. This doesn’t sound important, but If a visitor to your house trips and falls, you could have lawsuit.

If this is a newer house, you probably would not have many of the above problems. If it is an older home, the insurance company will request an inspection. If it shows any of the above issues, you can be denied home insurance, and/or they can request you have everything repaired. If you don’t have the repairs done, you will probably have to go to a High Risk Company where the premiums are very high.

Meet our expert personal shoppers at InsuranceMarket for a quick quote on your home insurance.

Home Contents and Tenants Insurance

Image source: arabianbusiness.com

Image source: arabianbusiness.com

If you are renting an apartment or a house, it is important to make sure that you have Insurance for not only protection of your belongings, but against any type of damage to the building in which you will be held responsible. A contents Insurance policy includes this type of Liability protection. Remember to always choose the highest liability you can buy. The cost is very affordable and will give you peace of mind. The cost of a contents policy including the liability is next to nothing if you look at what a lawsuit, with court and lawyers fees would cost.

There are many people who feel that since they don’t own a home, or feel they do not have that much to insure, don’t give it a second thought. They do not want to spend the money for something they may not even use. If you can take 10 minutes to walk around your home and write down what you have, you will probably be surprised how much you do have.  Below, there is a small list of items we use everyday. If you put a price on each item and add it up, would you have the money to replace them.

Table and Chairs

Couch/Sofa & chairs

Bed

Washer/Driver

Fridge, stove, microwave

Vacuum

Plasma TV’s and all electronics

Dressers

Clothing

The list above is only the normal everyday items in your home. It does not include the items in your child’s room, jewelry, fine arts or collections. Even the basics like pots, pans, cups,saucers, silverware barbeque, and lawn furniture.  There is a inventory booklet on our site that you can print of and do the walk around to get an idea of what the approximate value of your possessions are in your home.

One of the most important types of coverage that is included in a content insurance policy is “Living Expense”. The name may differ with other insurers, but the coverage is the same.  This coverage is going to give you a place to stay until you can move back into your home. It also will pay for, travel expenses for taxi’s, motels, meals, clothing, and any other everyday needs. I cannot imagine being unable to go home with a small child or baby.

Most policies cover you for fire, theft, vandalism, wind or water damage. These are just as few of the perils covered by your Insurance Company.  Most insurers often include coverage for personal belongings worldwide. That is great news for travelers. If you are concerned about expensive items like jewelry, call us and check to see if there is a limit on it. It could be unlimited, but if there is a maximum limit, you can usually purchase more coverage at an additional premium.

There could possibly be a discount if you your contents with the same Company.

Come visit InsuranceMarket and we’ll help you put together a home insurance policy as well as the supporting documents that you should have in order to have your home financially secured.

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Home Insurance Claims – The Big Issue of Water Damage

Image source: blog.propertyfinder.ae

Image source: blog.propertyfinder.ae

Insurance Companies have been paying out millions of Dirhams over the last couple of years, and quite a bit of it is because of the weather. We have had huge problems with flooding, water damage, huge storms and even fire losses. Many insurance companies do not cover flood insurance. There is a really fine line when it comes to water damage. Whether it is covered under your policy or not, you should immediately remove everything you can to prevent more damage. You may be surprised to know that there is a good possibility that there is damage behind the walls that you cannot see. The walls need to be dried as soon as possible. If there is mould or mildew, it will just spread and that is when the health issues start. It is harder to notice as most homeowners now complete their basement like an another level and living space. It is not easy to see behind the wall board, ceiling tiles, etc. At one time, basements were uncompleted and all you could see was the cement walls and floors these days.

If you look at the hurricane that hit New Jersey last year, apart from the water and the winds itself, it looked like every single house was in the middle of a sand pit. The sand was in every crack and cranny in those houses. I would imagine it would be covered under their insurance. Damage like that, must have caused millions of Dirhams in repairs.

It would be interesting to follow a case through from the beginning to the end of the repairs. They don’t cover flooding, but most will pay for sewer backup damage. I am not sure if that means you have to give them water sample from the basement and have it tested. If it really smells like a sewer than I guess it would be covered under sewer backup. People are getting smarter, and it is no surprise to me that people have been told to make sure there is solid matter in the basement, so it will look like it was definitely sewer backup.

In severe cases, I would hope the insurance companies would cover all wind or water damage. It would not be the first time they have done it, but it is getting to the point where they are going to have to increase homeowner policies rates.

If you look at a policy which is insuring your home which is worth almost a million Dirhams, an AED 900 annual premium really is not that much to pay for you to pay.

Image source: mattandkatiedubai.blogspot.com

Image source: mattandkatiedubai.blogspot.com

The infrastructure of city water mains is a huge problem. If a good downpour of rain happens all at once, the road sewers cannot handle the volume and the water just floods over into people’s homes.

An additional problem is the scope of water damage. An example of this would be a sewer back up claim. While the contractors are in there fixing it, along comes another storm and the ground is still soft from the previous storm, so it is just going to back up again. If you have massive rain in an area where they have already been flooded, repairs are going to be ongoing until it can be repaired properly.

You can meet Alfred for car insurance and home insurance policies that cover natural perils – a very important cover even in this part of the world.

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Home Insurance Coverage in the UAE

Image source: en-maktoob.news.yahoo.com

Image source: en-maktoob.news.yahoo.com

This article gives you a breakdown of the coverage provided by Home Insurance. The usage of the words, you, your, insured, policyholder refers to you – our client, and the usage of us, we, insurer, refers to the insurance company.

Home Insurance is protection for you and your family. There are various types of coverage available, most are included in the actual homeowners package. There are also other types that can be purchased separately in addition to your policy. The main perils or (causes)of damage, are fire, vandalism, water damage, smoke, theft, flood or falling items. There is additional protection not listed here. This is just an outline of the type of Insurance available.

Home

This is the primary house itself. Anything that is attached to the house like awnings, railings, the roof, windows or a built in bookcase.

Outbuildings

Any type of building like a detached garage, sheds, swimming pools,  tennis courts, any patios, gates, fencing or hedges.

Contents or Personal Belongings

All your household contents including such items as your couch, bed, clothing, blankets, stoves, fridges etc. Any valuables such as fine arts, furs, jewelry, stamp and coin collections.  This coverage will also cover damage to contents in a garage or shed, including some motorized lawn equipment.

Personal Effects

Coverage is available for a monetary loss of cash, debit or debit-credit cards. Fraudulent use of any of your accounts. This also includes passports, drivers license and limited costs for identity theft.

Unoccupied Building

There is no coverage for a building you may own that has been left unoccupied for more than 60 days. You should contact your insurer and advise them of this situation prior to leaving it unoccupied. Many insurers will add what they call ‘vacancy permits’.

Accommodation and Living Expense

If your home has been deemed inhabitable, your insurer will pay for any reasonable accommodations and expenses until you can safely move back to your home.

Liability Insurance

This is the owner’s legal liability insurance. This coverage is used if you are legally responsible for injuring another person or are negligent causing damage to another persons property.

Deductible or Excess

There is a AED $2,000 on most claims presented for an incident that has occurred and is covered by one of the perils on the policy.  If a claim should occur, and it is subject to two deductibles, the highest will apply and you will only have to pay the one.

Removal of Debris

We will pay for any type of demolishing, debris from damage to the building or falling trees.

Government Property

If you damage any local authority property, we will respond within the their guidelines and regulations, and pay any damages in which you are legally responsible.

Homeowners Contract

When you sign a Homeowners Application, it becomes a legal document between yourself and the Insurance Company. You will have agreed, by signing it that all the information is correct.

Misrepresentation

This is a serious offence to commit with an insurance company. The bottom line, it really is a type of fraud. The Insurance Company could deny a claim because of information that was purposely held back from them. There are to many examples to list, but they are all similar to these.

1. Telling the insurance company that you heat your home with oil, but in fact, your house is heated by a wood stove.

2. Completing the application and not telling them about previous claims

3. You don’t tell them that you have rented out your basement

Material Change of Risk

You have taken out an insurance policy, signed the application correctly stating everything you need to tell the Company.  Three months down the road, you decide to build an addition on the home. You don’t bother telling the insurance Company.  This would be a material change of risk. The Company insured you for what you had prior to the addition and could deny a claim if you did not inform them of the change.

Whether you are a tenant or a landlord, visit insurancemarket.ae to find the right home insurance solution for you.

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