First Third-Party Motor Insurance for Rain & Flood Damages

The First Third-Party Motor Insurance for Rain & Flood Damages in UAE Starting @ AED 350

In light of the devastation due to extreme weather conditions like heavy rains and resultant floods, Al Fujairah National Insurance Co. (AFNIC) has launched FloodGuard. As an insurance company listed on the Abu Dhabi Stock Exchange (ADX), it brings this exclusive third-party vehicle insurance plan for both private vehicles and those owned by companies.

Note this plan is only applicable for vehicles that are more than 7 years old and are no longer eligible for comprehensive car insurance.

Backdrop

During the mid-April of 2024, rains caused heavy damage to cars in the UAE. The waterlogging led to many car owners abandoning their vehicles. The repairs, too, cost a fortune not just to the vehicle owners but also to the insurers. This also led to the loss of millions of Dirhams to insurers.

Those who had comprehensive policies were able to file claims for their rain-damaged vehicles. But the third-party car insurance claims were rejected by the insurers. 

An Overview of FloodGuard

The policyholders offer coverage (for a 12-month period) of up to 

• AED 25,000 for AED 350 premium
• AED 50,000 for AED 550 premium 

It is important to note that it is a standalone policy. Also, this plan does not substitute the requirement for a comprehensive or third-party car insurance plan or mandatory vehicle insurance. 

Another important aspect to notice is that this product is compatible with existing third-party liability car plans from AFNIC or any other insurance provider. 

Important: FloodGuard comes into effect 15 days after the start date of the policy. 

What is Excluded from FloodGuard?

Here are the major exclusions of FloodGuard —

• Being stuck in a dune, wadi, beach, or man-made water body
• Two-wheelers against damage caused by storm or rain 
• Commercial vehicles 

This innovative AFNIC product is designed to provide much-needed relief to car owners. It seeks to address the requirement for a product that covers the third-party car insurance policyholder in case of extreme weather situations. 

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