Misfortunes can strike the best of us. Your home isn’t immune either. If you think you are fine without home insurance, think again. For an investment as huge and significant as your home, the stakes are far too high. Investing in the protection of your home can not only put your mind at ease, it can save you from a potentially huge financial setback.
While you are the best judge of the extent of coverage you require considering your individual risks and circumstances, completely disregarding home insurance is imprudent. We summarize the key reasons why you need to sign up for an appropriate home insurance policy, if you haven’t already.
Calamities are Real
The geographical location of the UAE makes it prone to natural disasters like tropical storms and floods. The damage caused by these destructive forces is usually extensive and can have dire financial consequences unless backed by a home insurance policy. Residential fires are also a big threat and one of the leading causes of property damage in the country. The changing climate and a general increase in devastating natural disasters too warrant a worthwhile insurance cover for your home.
Malicious Acts Pose a Big Risk
Malicious acts like burglary, theft, riots, strike and terrorism pose a very real risk and can result in significant material damage to your home and the contents within. A home insurance policy can come to the rescue and compensate you for such instances of vandalism.
[Related: Why tenants shouldn’t skip home insurance]
Your Belongings are Extremely Valuable
No one understands the value of your personal effects better than yourself. While no policy can cover the emotional worth of your belongings, a good home contents insurance policy can help mitigate the financial consequences. Even if you do not own collector’s items or exclusive home décor, small and seemingly inexpensive objects can add up.
Home contents insurance cover safeguards your interests against accidental damage, natural disasters, theft, and fire among other perils, even when you are away from home. Souqalmal.com aims to provide the best value home contents insurance deals to its customers. And with its instant quotes, multiple plan options, secure payment portal and more – Securing your home’s contents is going to be easier and faster than ever!
It Protects Others Too
Although you would never intend for someone to get hurt on your property, accidents can happen. The liability clause is a lesser known benefit of home insurance policies – It protects the homeowner from potentially expensive incidents involving a third-party within your premises. It pays for legal charges, medical bills and material damage caused by the accident on your property.
Extras! Extras! Extras!
At an additional premium, you can pick optional riders to go with your home insurance policy. These include loss of rent, cost of alternative accommodation while your home undergoes repairs, new for old replacement, cover for personal belongings regularly carried outside of home, accidental damage to building or contents where you are at fault, emergency assistance with fittings and a lot more.