This cover is specifically designed for risks associated with residents living in flat apartments and villas.

The policy covers the following:

• Damage to the contents belonging to the residents
• Jewelry and other valuables covered against theft only whilst kept in locked safes
• Damage to the building itself if owned by the resident
• Loss of money whilst kept in locked safe.
• Loss of rent following damage to the building following a fire
• Expenses for alternate accommodation
• Tenant’s liability towards landlord for damages to the building
• Liability towards neighbors or the general public
• Workmen’s compensation insurance to cover domestic staff

Risks Covered Against Damage to Building and Contents

Damage to the building or contents caused by:

• Lightning
• Explosion/implosion
• Aircraft and articles dropped there from
• Impact damage due to rail/road or animal
• Riot strike, malicious damage
• Malicious damage
• Earthquake
• Subsidence and land slide
• Storm, cyclone, flood and flood
• Sprinkler leakage
• Overflow, leakage of water tanks, pipes etc.
• Theft or Attempted Theft (by violence to persons or threat thereof or by violent and forcible entry to or exit from the premises)

Major Exclusions

• Contents and belongings are covered only whilst kept within the residence
• Accidental breakage
• Property being worked upon
• Property in course of construction / erection
• Electrical or mechanical breakdown
• Normal wear and tear
• Motor vehicle, water craft or aircraft
• Animals, growing crops or standing timber
• Property whilst in transit
• Consequential losses
• Loss resulting from unexplained circumstances
• Mysterious disappearance
• War, sabotage and terrorism

Deductible

The policy always has a monetary deductible applicable to each and every loss.

Period of Insurance

The coverage is usually provided for a period of one year.

Basis of Sum Insured

The sum insured may be either on the basis of the actual value or the new replacement value of the property but should be adequate to cover the total exposure.

The sum insured is very important and needs to be given careful consideration to avoid applying the Average Clause (i.e. application of under-insurance) in the event of a claim.

Deductible

A deductible for each and every loss under the policy may be applicable under some sections of the policy.

Premium Rate

Premium rates are based on:

• Type of occupancy
• Physical features
• Values at risk
• Nature of risk
• Location
• Physical features of the risk
• Requirement of additional covers
• Policy deductible

Important Information

Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.

For more information, please contact Nasco Gulf at +971 4 351 8610.

Claim Settlement

In case of any loss or damage to the covered property, payment for repairs and replacement is made subject to the overall limit of the sum insured.

The insurance company may at its own discretion, repair or replace the affected property instead of paying for the cost of restoration.

Liability claims are settled in accordance with the applicable law in the UAE.

Workmen’s compensation claims are settled in accordance with the UAE Labor Law.

You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.

Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610