Gulf News July 11, 2009
21 July 2009
Gulf News: Insuring your household goods when moving wihtin your city
I’ve lived in the same apartment in Dubai for five years but am planning to move to take advantage of the drop in rents. However, I have a lot of valuable possessions and I want to make sure they are protected against any damage – what kind of insurance do I need?
Many people are moving at the moment within Dubai and across the UAE to benefit from the fall in rents and house prices. Moving home is both an exciting, and stressful time. First securing the new property deal, followed by the reality of having to up-root, and transport your worldly possessions across town. In the midst of all this change it is easy to forget that the contents of your home are valuable, and you need to consider protecting them against damage and theft both in transportation and once you are settled in your new home. Contents insurance is readily available and inexpensive, which with the help of an independent financial advisor can be tailored to you individual needs. The first thing to consider when moving is whether the removal firm you have booked is insured against loss and damage to your possessions. With reputable companies this type of insurance is usually standard. But if you go for a cheaper option then make sure you ask about insurance and what it covers – because you never know what might happen when that van takes off down Sheikh Zayed Road. When moving into a rented apartment it’s essential to find out what is already insured by the building’s owners and your landlord. This is important because if there’s a fire in your neighbour’s apartment, for example, and the building’s sprinkler system goes off then your possessions could be damaged too. Without sufficient contents insurance you could end up spending substantial sums replacing a brand-new sofa that was accidently, completely destroyed by water. Theft is also an issue that needs to be considered. Although uncommon in Dubai, it can happen, and when treasured and expensive possessions go missing, often the only comfort is that at least with the insurance money the loss can be replaced.
By Samantha Lloyd Du Plessis, team leader central insurance at Nexus.