Tenant Insurance

What is Tenant Insurance?

Also known as renters insurance, this is a property insurance type that provides coverage to tenants living in a rented property. With this plan, you get financial protection against several unforeseen events such as fire, theft, natural calamities, accidents, third-party liabilities, and so on.

Why is Rental Property Insurance Important for Tenants?

While tenant insurance coverage is not mandatory in the UAE, it’s advisable to get it due to its host of benefits —

• Financial Protection:

Whether you’re renting an apartment or a villa, a small mishap can lead to a financial burden. With this type of coverage, however, you can get financial protection for damages/loss due to any events.

• Liability Coverage:

Many home insurance providers in the UAE offer tenant liability coverage. This ensures you are covered against any liabilities arising from injuries or damages incurred by third parties on your property.

• Peace of Mind

With rental property insurance, you can easily secure your valuable belongings at affordable rates. This allows you to live stress-free and enjoy peace of mind.

What is Covered in Renters Insurance?

Tenant home insurance provides protection to the tenant’s personal belongings and assets. While the coverage depends on your chosen plan, some of the common inclusions are as follows -

• Content damage or loss 
• Jewellery loss or damage
• Theft
• Alternative accommodation 
• Freezer food
• Plumbing damages
• Damages due to natural mishappenings such as fire, earthquake, flood, and more 
• Tenant’s liability 
• Locks and key replacements

All You Need to Know About Coverage Under a Home Insurance Policy

What is Not Covered Under Tenant Insurance?

Here are some of the common exclusions under rental insurance coverage —

• War and terrorism 
• Radioactivity 
• Sonic bangs
• Damages due to lack of maintenance
• Pollution and contamination 
• Wear and tear
• Intentional loss or damage

Note: Check your policy wording to comprehensively understand the exclusions.

Tenant Insurance Cost in the UAE

Renters insurance costs, just like those of any other type, depend on various factors. However, as a thumb rule, the annual premium for rental property insurance is typically calculated at around 0.5% of the total insured value.

For instance, if your insured belongings’ value is AED 500,000, your annual premium will be around AED 2,500.

Here are some of the factors that influence tenant insurance premiums -

• Claim history
• Scope of coverage
• Value of the insured belongings
• Type of property 
• Insurance provider and more

How to File a Claim Under Tenant Insurance?

Navigate the steps below to raise a claim under tenant home insurance in UAE —

• Immediately contact your insurer and notify them about the incident
• File a report at your nearest police station
• If possible, take pictures and videos for evidence
• Submit the required documents to start the claim process
• If required, an inspection will take place — comply with the requests for prompt resolution
• Once your claim is approved, you will get the compensation

How to Buy Tenant Home Insurance in the UAE?

Getting renters insurance is easy and hassle-free with Policybazaar UAE. It’s an online platform where you can compare and buy the best plans from the comfort of your place.

Follow these steps —

• Click here to access the lead form 
• Fill it out and submit it 
• This will take you to the quotes page
• Use filters to compare different plans 
• Apply for the best one that meets all your needs 

Frequently Asked Questions