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Thu 16 Jan 2020 02:00 PM

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Home insurance adoption remains low in the UAE, says RSA

According to RSA Insurance's claims director, insuring items to the value of AED100,000 costs approximately AED1 per day

Home insurance adoption remains low in the UAE, says RSA

Home insurance adoption rates remain low in the UAE despite relative affordability when compared to other markets, according to Zia Ul Jaweed, claims director at RSA Insurance.

The issue of insurance was starkly highlighted in the UAE earlier this week, when many local residents reported damage or flooding as a result of several days of heavy rains.

Speaking to Arabian Business, Jaweed said that, in his experience, many local residents still do not have insurance because it is not required by law or because it is assumed to be costly.

“While this is true [that it isn’t required by law], it’s still important to protect the things that matter to you the most.”

“Many people make the assumption that home insurance is expensive because it protects valuable items, but this is not the case,” he added. “Because of the relatively low adoption rate of home insurance in the UAE, insuring your home is relatively affordable.”

According to Jaweed, insuring items to the value of AED 100,000 costs approximately AED 1 per day.

“As more and more people make the UAE their home, we’re seeing a significant yearly increase in home insurance queries,” he added.

Safety Tips

Among the most prominent risks to homes are falling trees, according to Jaweed.

“A falling tree can cause considerable damage to your property and to your car,” he said. “If you have concerns about the height or the sturdiness of the trees on your property. Contact your landlord or arrange for some garden maintenance. It’s best to be safe, rather than sorry.”

Additionally, Jaweed recommended checking drains and removing leaves or dirt that might block them, as well as having sandbags on hand to place in areas near where water collects to prevent it from entering and damaging property.

“Damage caused to patio floors is a common claim we receive, and it’s mostly avoidable,” he added. “You need nothing but time to make sure your patio furniture is secure. A loose chair, flower pot, and even a table can do considerable damage to your home or car if the wind catches it.”

“Make sure to bring your loose items indoors as much as you can, and put your outdoor table on its side of upside own to prevent it from being dragged by the wind,” he added.

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