Al Buhaira Business Insurance

With nine branches across the country, you can count on Al Buhaira Business Insurance to meet a wide range of insurance needs, including -

• Property
• Engineering
• Liability
• Aviation
• Marine hull and cargo
• Group life
• Medical

In 2005, ABNIC was listed on the Abu Dhabi Securities Exchange (ADX), with a paid-up capital of AED 250 million. The company’s success is driven by the loyalty of its valued customers, a dedicated team of 346 experienced professionals, and strong partnerships with international reinsurers.

Types of Al Buhaira Business Insurance

Given below are the types of Al Buhaira business insurance plans -

1. Group Medical Insurance

Group Medical Insurance provides medical benefits to a group of individuals, typically employees of a company or members of an organisation. It covers multiple individuals under a single policy, making it more cost-effective than individual insurance plans.

Key Benefits:

Here’s why this Al Buhaira business plan stands out -

• Comprehensive Coverage: Protects employees and their families against hospitalisation, surgeries, and other medical expenses
• Customisable Plans: Tailored to meet the specific needs of your organisation, allowing flexibility based on employee roles and requirements
• Wide Network Access: Offers access to over 1,500 medical providers, including 63 hospitals, 593 clinics, and 989 pharmacies across the UAE
• Direct Payment of Claims: Personalised membership cards allow for seamless treatment and direct payment to medical providers, expediting care
• Tax Benefits: Employers may enjoy tax incentives for offering this Al Buhaira insurance, making it a smart financial choice

Medical Plan & Coverage:

Plan	Geographical Area	Annual Limit (AED)
Plan A	UAE + Emergency Treatment Worldwide (excluding USA & Canada)	400,000
Plan B	UAE + Emergency Treatment Worldwide (excluding USA & Canada)	200,000
Plan C	UAE + Emergency Treatment Worldwide (excluding USA & Canada)	100,000
Plan D	UAE + Emergency Treatment in GCC countries and Indian Sub-continent	50,000
Plan E	United Arab Emirates Only	25,000

2. Group Life Insurance

Group life insurance offers vital financial protection for employees and their families. With this type of Al Buhaira business insurance, you not only safeguard your employees' future but also strengthen your organisation’s commitment to their well-being. 

Key Benefits:

Here’s an overview of why this Al Buhaira insurance coverage is important for both employers and employees -

• Financial Security: In the event of an employee's unexpected death, the policy pays a death benefit to their designated beneficiary, helping them cover expenses and debts
• Attract and Retain Talent: This Al Buhaira business insurance enhances your employee benefits package, making your company more appealing to top talent and encouraging employee loyalty
• Comprehensive Benefits: The policy covers various situations, including —
  • Death from any cause
  • Permanent and temporary total disabilities due to sickness or accidents
  • Medical expenses from accidents
  • Critical illness benefits
  • Terminal illness benefits
  • Repatriation expenses for mortal remains
• Eligibility Criteria: Employees must be at least 18 years old and not older than 64 years to enrol in the group life insurance policy
• Age Limit: Coverage is available for individuals aged 18 to 65 years. Members aged 66 to 70 years may be eligible for coverage, subject to specific policy terms and conditions
• Coverage: Group coverage requires a minimum of 10 employees. Policies are issued with flexible sum insured options, based on employee income or seniority. It can include a free cover limit for automatic coverage without medical exams

3. Property Insurance

Property Insurance is essential for protecting your valuable assets against unforeseen events.

This ‘All Risks’ cover safeguards against a wide range of risks, including fire, natural disasters, theft, vandalism covering accidental physical loss or damage to property from events like floods, storms, earthquakes, and more. It ensures that you are protected against significant financial setbacks resulting from unforeseen circumstances, allowing you to recover and rebuild with greater ease.

What’s Covered?

With this type of Al Buhaira business insurance plan, you can cover a wide range of properties, including -

• Office buildings, apartment complexes, and towers
• Hotels, hospitals, and schools
• Industrial facilities, including plants, machinery, and stock
• Retail spaces like shopping complexes and malls

Variety of Coverage Options: 

You can choose from various property insurance products, such as —

• Property All Risk
• Business Interruption
• Fire and Allied Perils
• Hotel Comprehensive Insurance
• Terrorism & Sabotage Insurance

Mortgage Requirement:

Many banks in the UAE require property insurance as a prerequisite for mortgage approval, adding another layer of importance for property owners.

1- Business Interruption

This Al Buhaira business insurance plan provides essential financial support when your business operations are interrupted due to unforeseen events, such as —

Property damage from fires, floods, earthquakes, or even incidents like theft and vandalism.

By securing this coverage, you can focus on growing your business while knowing that you’re protected against potential losses.

Coverage Inclusions:

• Covers lost profits during the downtime, helping you recover income that would have been generated if the interruption hadn't occurred
• Provides coverage for ongoing costs, such as rent and payroll, ensuring that your business continues to meet its financial obligations

2- Property All Risk

Property All Risk Insurance (PAR) provides comprehensive coverage that helps you mitigate financial losses from unforeseen incidents. It covers a wide range of risks protecting both commercial and residential properties, including damage from natural disasters, theft, and accidents.

By investing in this Al Buhaira business plan, you protect your property and maintain your financial stability in challenging situations.

Coverage Inclusions:

• Property Damage: Covers various property types, such as buildings, offices, warehouses, factories, and homes. It protects not only the physical structure but also the contents and equipment inside.
• Repair and Replacement Costs: In the event of loss or damage, it covers repairing or replacing the property. It may also include additional expenses, such as temporary relocation and loss of rental income.

3- Fire and Allied Perils

Fire and Allied perils insurance is essential for protecting your property from a variety of risks. This Al Buhaira business plan protects against loss or damage from multiple perils, including —

• Fire and lightning
• Floods and storms
• Bursting of water tanks or pipes
• Aircraft damage and impact incidents
• Riots and strikes
• Earthquakes, explosions, and burglary

Valuation:

The sum insured reflects the reinstatement or replacement value of the property to ensure adequate coverage.

4- Hotel Comprehensive Insurance

Hotel Comprehensive Insurance is a tailored solution designed specifically for hotel owners to safeguard their businesses. This Al Buhaira Insurance Dubai protects against physical loss or damage to property caused by various risks, including —

• Fire and natural disasters (Acts of God)
• Riots and strikes
• Impact damage

Additional Benefits:

The policy also includes valuable add-ons, such as -

• Compensates for income loss during disruptions
• Covers repairs or replacements for essential machinery
• Protects against third-party claims
• Secures cash and financial assets
• Guards against employee theft or dishonesty

5- Terrorism & Sabotage Insurance

This coverage offers protection to personal property against damage caused by terrorism and sabotage, which is often excluded in standard policies.

4. Engineering Insurance

Engineering Insurance is an essential safeguard for businesses in the construction and engineering sectors, providing comprehensive protection against various risks and ensuring project stability.

Types of Engineering Insurance

• Machinery Breakdown
• Contractor All Risk
• Contractor Plant and Machinery All Risks
• Electronics Equipment
• Erection All Risks
• Machinery Loss of Profit

1- Machinery Breakdown Insurance

This type of Al Buhaira business insurance provides coverage for unexpected damage or breakdowns of machinery and equipment, including —

• Mechanical Plants: Engines, turbines, compressors, and machine tools
• Electrical Equipment: Generators, motors, switchgear, and transformers
• Boilers: Comprehensive protection for critical machinery components

It is vital for industries reliant on machinery to offer peace of mind and financial security against unexpected equipment failures.

Types of Risks Covered:

The policy typically includes protection against a range of risks, such as —

• Coverage for sudden failures in machinery operations
• Protection against damage resulting from operational mistakes
• Covers damages caused by fluctuations in electrical supply

2- Contractor All Risks Insurance

Contractors All Risk (CAR) insurance provides comprehensive coverage for contractors and construction companies against potential risks and makes sure that projects can proceed without undue financial concern.

What’s Covered?

This Al Buhaira insurance protects against a wide range of risks associated with construction projects, including —

• Coverage for loss or damage to the project site, including buildings, machinery, equipment, and materials due to unforeseen events such as fire, theft, or natural disasters.
• Protection against claims from third parties for injury or property damage resulting from construction activities.
• Covers machinery and tools used on-site as well as temporary structures erected during the project.

3- Contractors Plant & Machinery

This Al Buhaira business insurance is a comprehensive policy designed to protect contractors against the loss or damage of their equipment used in construction and engineering projects.

What’s Covered?

This Al Buhaira business plan protects both contractor-owned and hired-in machinery, covering -

• Accidental Physical Loss or Damage: Includes damages due to unforeseen events
• Theft and Burglary: Safeguards against loss of equipment due to theft
• Breakdowns and Machinery Failures: Covers damages resulting from operational failures
• Operator Errors: Protects against losses caused by human mistakes
• Transit Risks: Provides financial protection for equipment while in transit between sites

Additional Benefits:

• Repair or Replacement Costs: Covers expenses to fix or replace damaged equipment
• Rental Costs: Includes costs for hiring alternative machinery if the insured equipment is unavailable
• Debris Removal and Temporary Repairs: Covers the costs associated with clearing debris and making temporary fixes

4- Electronics Equipment

Electronics Equipment Insurance provides coverage for those people who rely on electronic devices for daily operations or personal use. 

This Al Buhaira business insurance plan protects against damages or losses that can occur to equipment such as computers, smartphones, laptops, cameras, and more. 

Inclusions:

It covers a wide range of risks, including -

• Protection against damages caused by fire or related incidents
• Covers unexpected mishaps that result in equipment damage
• Safeguards against loss from theft
• Includes protection from water-related incidents
• Coverage for damage caused by electrical fluctuations
• Covers the costs of repairing or replacing damaged equipment, including parts and labour
• Extends coverage to data recovery services if information is lost or compromised

Exclusions to Note:

While Electronics Equipment Insurance offers broad protection, there are exclusions, such as -

• Damages from intentional acts or criminal activities
• Wear and tear or mechanical breakdowns
• Natural disasters unless specifically covered
• Damage from viruses or malware unless included in the policy

5- Erection All Risks

Erection All Risks (EAR) Insurance is essential for construction and engineering companies involved in the installation, testing, and commissioning of machinery and equipment. This Al Buhaira business insurance offers vital protection against potential damages or losses that may occur during these critical phases of a project.

What’s Covered?

• Damage from fire, natural disasters, theft, sabotage, and accidental incidents
• Third-party liability claims that may arise during the installation or operation of equipment

Exclusions:

Common exclusions in this Al Buhaira Insurance include —

• Damages from intentional acts or criminal behaviour
• Normal wear and tear
• Faulty design, workmanship, or materials
• Damages resulting from war or political instability, unless explicitly covered

6- Machinery Loss of Profit

This type of Al Buhaira business plan is designed for companies that rely heavily on machinery and equipment. 

This policy safeguards businesses from financial losses incurred due to machinery breakdowns or related incidents that disrupt production and revenue. 

Comprehensive Coverage:

• Loss of income due to production interruptions
• Additional expenses incurred during downtime
• Increased operational costs while resuming normal activities
• May also cover damage to the machinery, if caused by a covered incident

Premium Factors:

The cost of insurance premiums is influenced by various factors, including —

• Type and value of the machinery
• The level of coverage required
• The business's location and nature
• Associated risk factors and the specific terms of the policy

Exclusions:

The Al Buhaira insurance Sharjah plan typically has several exclusions, such as:

• Losses due to normal wear and tear
• Inadequate maintenance or protection against natural disasters
• Intentional or criminal acts, as well as losses due to war or political instability

5. Liability Insurance

Third Party Liability Insurance provides coverage against legal liabilities that arise from accidents causing bodily injury or property damage to third parties. This Al Buhaira business plan is designed to protect businesses from the financial consequences of claims made against them, ensuring they can operate with confidence.

Inclusions:

This Al Buhaira Insurance Abu Dhabi plan covers you in the cases when you become legally liable to pay due to —

• Bodily injury (fatal or non-fatal) to third parties
• Damage to third-party property
• Legal expenses incurred in defending against claims, including court fees, attorney fees, and settlement costs

Exclusions:

Common exclusions in the policy may include -

• Losses resulting from intentional acts or fraud
• Damages caused by war or political instability
• Issues related to normal wear and tear or inadequate maintenance
• Losses arising from illegal activities or actions outside the scope of the insured’s business

Types of Liability Insurance:

1- Cyber Liability Insurance

This Al Buhaira business insurance protects businesses from losses or damages due to cyber attacks or data breaches.

Coverage Includes:

• Costs related to data recovery and restoration
• Legal expenses from lawsuits arising from breaches
• Notification costs for affected customers
• Regulatory fines and penalties

2- Directors and Officers Liability Insurance

This Al Buhaira business insurance plan covers directors and officers against claims of wrongful acts or negligence in their professional roles.

Coverage Includes:

• Legal defence costs for claims related to alleged misconduct
• Settlements or judgments awarded in lawsuits
• Protection against actions taken while performing their duties

3- Medical Malpractice Insurance

This Al Buhaira business insurance plan provides comprehensive coverage to healthcare providers and medical practitioners from third-party claims arising due to any error, omissions, or negligence in your duties.

Coverage Includes:

• Legal fees and court costs
• Damages awarded to claimants
• Claims related to medical errors, negligence, misdiagnosis, and wrongful death

Some policies may cover legal expenses, patient compensation, and loss of income during disputes.

Beneficiaries:

Doctors, nurses, dentists, pharmacists, and allied health professionals.

4- Professional Indemnity

This type of Al Buhaira business plan protects businesses and professionals against claims of negligence, errors, or omissions in their services. It is essential for professionals who provide advice or consultancy, including —

• Lawyers
• Accountants
• Architects
• Engineers
• Consultants

Coverage Includes:

• Legal expenses and defence costs (court fees, lawyer fees)
• Damages and compensation awards resulting from claims by clients or third parties

5- Public And Product Liability

Public and Product Liability Insurance is essential for businesses to safeguard against potential legal claims, providing financial protection in case of unforeseen incidents. This type of Al Buhaira Insurance shields businesses and individuals from legal claims arising from negligence leading to third-party property damage, bodily injuries, or fatalities.

Coverage Includes:

• Public Liability Insurance: Covers claims from members of the public for injuries or property damage resulting from your business operations
• Product Liability Insurance: Covers claims from customers for injuries or damage caused by products manufactured, sold, or supplied by your business
• Legal Defence Costs: Includes coverage for legal fees, settlements, or judgments paid to injured parties

Premium Calculation:

• Nature of the business
• Types of products or services offered
• Associated risks
• Desired coverage limits

6- Workmen's Compensation

Workmen's Compensation Insurance is essential for safeguarding the financial interests of both employers and employees. This Al Buhaira business insurance provides coverage for employer liabilities arising from work-related accidents, injuries, or illnesses to employees.

Note: It is mandated by UAE Federal Law No. 8 of 1980 for all businesses operating in the UAE, regardless of size or employee count.

Coverage Includes:

• Medical Expenses: Covers costs related to medical treatment, hospitalisation, and rehabilitation for work-related injuries or illnesses
• Disability Benefits: Offers compensation for employees with permanent or partial disabilities due to work-related incidents
• Death Benefits: Provides compensation to the beneficiaries of employees who die from work-related injuries or illnesses
• Rehabilitation Benefits: Covers rehabilitation services such as physical and occupational therapy to aid recovery

Benefits:

• For Employers: Protects against costly legal disputes and liabilities
• For Employees: Ensures compensation and support during recovery, enhancing financial security

6. Deterioration of Stock

Deterioration of Stock insurance provides coverage for damage to perishable goods stored in cold storage due to unforeseen events.

This type of Al Buhaira insurance is essential for businesses that rely on maintaining the quality of perishable items, helping to mitigate financial losses from spoilage.

Coverage Includes:

• Loss or damage caused by machinery breakdown
• Damage due to power failures
• Protection for temperature-sensitive products like food and pharmaceuticals

7. Marine Insurance

Marine Insurance provides comprehensive coverage for loss or damage to vessels, cargo, and property while transporting from one place to another. This Al Buhaira insurance is essential for shipping companies, freight forwarders, yacht owners, and businesses involved in marine activities.

Coverage Includes:

• Damage to ships and cargo
• Liabilities from marine accidents (e.g., collisions, environmental damage)

Types of Marine Insurance:

1- Marine Cargo Insurance

Provides coverage for goods being transported across various modes of transport, including ocean vessels, aircraft, barges, rail, and trucks. Businesses involved in the shipping and logistics of goods should purchase this Al Buhaira insurance to ensure financial protection during transport.

Coverage:

• Protects against physical loss or damage to goods due to insured perils (e.g., theft, natural disasters)
• Compensate the insured for losses incurred during transit

Key Feature:

• The policy is assignable, meaning the title can be transferred from one party to another.
• The person who buys the insurance policy might not be the one who makes a claim. The right to claim can be transferred to someone else involved in the deal.

2- Marine Hull Insurance

What is Marine Hull Insurance?

Marine Hull Insurance protects vessels and boats from physical damage. Whether used for commercial or private purposes, this Al Buhaira business insurance helps safeguard against financial losses related to damage or loss of the insured vessel.

Who It Covers:

This insurance is vital for anyone involved in maritime activities in the UAE, including shipping, transporting goods, offshore exploration, and leisure boating.

What It Covers:

The policy typically includes protection against —

• Physical damage to the vessel’s hull and machinery
• Damage from natural disasters, collisions, or human error
• Costs associated with salvage operations and removal after an accident
• Expenses to prevent or minimise loss (sue and labour expenses)
• Primary collision liability and legal fees

Coverage Types:

Options may include "Hull & Machinery" and total loss coverage, tailored to meet client needs and risk assessments. The insurance is often based on an agreed value.

Optional Extensions:

• Protection and indemnity cover
• Increased value coverage
• Protection against war and strikes

3- Yachts and Pleasure Crafts

What is Yacht Insurance?

Yacht Insurance provides coverage to boats and pleasure crafts used for leisure activities in the UAE. This Al Buhaira insurance plan is crucial for yacht owners, as it offers financial protection against various unexpected losses and damages that can occur while using the vessel.

Key Coverage Includes:

• Physical Damage: Protection for the yacht’s hull, machinery, equipment, and installed components (including outboard motors if specified)
• Losses Due To: Coverage against fire, theft, vandalism, and natural disasters
• Liability Protection: Covers accidents involving the vessel and its passengers, including third-party claims

Standard Coverage Includes:

• Third-party liability related to vessel ownership or use
• Salvage costs
• Collision liability
• Sue and labour expenses
• Physical damage to the vessel
• Wreck removal expenses required by authorities

Optional Extensions:

• Coverage for road trailers
• Loss or damage to personal effects (up to a specified limit)
• Protection against uninsured boaters

8. Aviation Insurance

Aviation Insurance covers risks related to aviation, including physical damage to aircraft and liabilities arising from accidents. Airlines, aircraft owners, and aviation-related companies should purchase this Al Buhaira business plan. 

Coverage Includes:

• Damage to aircraft
• Liability for accidents
• Loss or damage to cargo during air transport
• Ground handling activities (e.g., maintenance, refuelling)

How to Fill Al Buhaira National Insurance Claim Form?

Follow these simple steps to fill the claim form of Al Buhaira National Insurance Company -

• Visit the official site of Al Buhaira.
• Click on ‘Claim’ in the menu section.
• Select the suitable option and get redirected to the form page. 
• Fill out the form with all the necessary details —
  • Personal information
  • Policy number
  • Type of Insurance
  • Attach documents (if required)
• Press the ‘Submit’ button.

Or

You can directly connect with them by calling 06-517-4444 or email to care@albuhaira.com. 

An insurance personnel will get back to you and assist you with all your insurance or claim needs.

Why Choose Policybazaar.ae for Business Insurance?

Policybazaar UAE has been offering insurance services since 2008, building a strong reputation in the industry over nearly 17 years. Their team is dedicated to providing efficient and reliable claims processing, ensuring peace of mind for property owners.

Here are the reasons why choosing Policybazaar.ae can be a good option for you -

• Customisable Coverage Options: Access a wide range of insurance coverage options tailored to meet your specific business needs
• Competitive Pricing: You can compare policies easily with our competitive pricing list, helping you save on insurance premiums
• Fast Claims Processing: The efficient claims system is designed to provide prompt and fair compensation when you need it the most
• Exceptional Customer Service: The dedicated team of Policybazaar.ae is available 24/7 to assist you with any questions or concerns