Al Sagr Business Insurance

The insurance company offers a wide range of products, including property, liability, motor fleet, marine, and employee-related insurance, designed to mitigate risks and ensure financial stability. With its customer-centric approach, Al Sagr is a reliable partner for businesses seeking protection.

Types of Al Sagr Business Insurance Plans

Given below are the categories of Al Sagr business insurance plans available for you in the UAE:

1. Group Medical Insurance

With 30+ years of experience in the health insurance domain, Al Sagr offers a variety of packages for SMEs and corporate groups, individuals, and families.

SME group medical insurance is designed for 11-150 employees and includes tier-based products including:

• Diamond
• Gold
• Silver
• Bronze

Group Medical Insurance Coverage

• Outpatient service
• Inpatient service
• Maternity cover
• Dental and optical cover
• Psychiatric and more  

Group Medical Insurance- Key Features

• 15+ different selection based on multiple coverage levels, including limited, standard, and executive plans
• Geographical coverage ranging from worldwide to UAE
• Availability of top TPAs- MedNet and NAS
• Availability of varied co-payment application options
• Instant policy issuance, validation, and delivery of medical cards
• Customization of deductible and co-insurance
• Round-the-clock customer service assistance

2. Group Life Insurance

With the Al Sagr group life insurance, you will receive many benefits. From unified cover for all employees to tiered coverage based on employee grades. Certain schemes under this coverage protect outstanding loans and financial institutions, such as banks, safeguarding borrowers. Additionally, some plans include critical illness and disability coverage.

Now, you can remain stress-free knowing that your family remains financially safe in case of your untimely demise.

What are the Benefits of Group Life Insurance?

• Affordable Plans: The Al Sagr group life insurance plan is quite affordable. You can customize the coverage as per your needs.
• Future Security: Life insurance financially protects your family, ensuring their security in case of your untimely demise.
• Pay Off Debts: Your family/ beneficiaries can pay off existing debts without any financial strain in your absence.

Inclusions of Al Sagr Group Life Cover

• Passive war risk cover
• Critical illness benefit
• Terminal illness benefit
• Repatriation of mortal remains due to untimely death
• Medical expenses reimbursement due to an accident
• Temporary disablements due to accident and/or sickness
• Permanent disablements due to accident and/or sickness
• Death of any cause (accidental/natural) 

2. Motor Fleet Insurance

Motor fleet insurance comprises two types of coverage:

• Comprehensive plans 
•  Third-party liability plans

1- Motor Fleet Insurance- Comprehensive

Key coverages include:

• Damage to items and properties
• Outside agency repair- up to 10 years from the vehicle registration date
• Agency repair- up to 2 years from the vehicle registration date at a manufacturer-verified dealer
• Personal accident cover
• National ambulance facility
• Bodily injury- unlimited

All-round the Day and Year Service includes:

• UAE accident towing service
• Lockout service
• Mechanical breakdown towing service
• Battery boost service
• On-road emergency fuel delivery
• Flat tire service

Optional benefits include:

• Car replacement
• Medical expenses
• Windscreen damage
• Driver and passenger cover
• Agency repair
• Oman coverage
• Loading and unloading coverage
• Personal possessions protection against fire, collision and theft
• Natural perils cover- such as earthquakes, floods, storms, etc

2- Motor Fleet Insurance- Third-Party

Key coverages include:

• Outside agency repair
• Bodily injury
• Personal accident cover
• National ambulance service
• Damage to items and properties

Optional benefits:

• Road risk cover
• Oman coverage
• Driver and passenger cover
• Roadside assistance
• On-road emergency fuel delivery
• Lockout service
• Flat tyre service
• Battery boost service
• Mechanical breakdown towing service
• UAE accident towing service

3. Marine Cargo Insurance

Al Sagr has been providing marine cargo insurance for the past 40 years now. Its plan is comprehensive and flexible. This insurance is valid across the globe, that is, the goods can be transported to anywhere from any location. The following category can avail of the insurance:

• Transporters
• Traders
• Yacht owners/ operators
• Manufacturers
• Vessel owners/ operators

What are the Benefits of Marine Cargo Insurance?

• 365 round-the-clock online certificate issuance service available
• Offers Marine Open, Specific Voyage, and Project Cargo Programs including Incidental Storage for a limited time
• Structure-based coverage on cargo in transit, mode of transit, packing, longevity of voyage, INCO terms, and more

4. Marine Hull Insurance

The marine hull insurance is designed for the following categories:

• Transporters
• Traders
• Yacht owners/ operators
• Manufacturers
• Vessel owners/ operators 

This comprehensive insurance covers vessels, including green/brown/blue/ water, and more from any risks such as damage or loss to the hull and machinery incurred due to maritime perils. Besides, the insurer also offers protection against terrorism, piracy risk, and even war physical vessel damage. Additionally, ransom and kidnap insurance for individual fleets and vessels on a single or annual voyage basis is covered.

The marine hull insurance also extends to comprehensive coverage for yachts and crafts. Any physical loss damage to these assets, third-party liability, and even crew and passenger liabilities are protected.

What are the Benefits of Al Sagr Marine Hull Insurance?

• Global capabilities
• Assured and reliable claims for 40+ years
• Combines underwriting expertise and proactive risk consultancy role

5. Property Insurance

Property insurance protects the company’s assets, including stock  (raw materials and finished goods), buildings, equipment, inventory, and even customer property under the insured’s care, control, or custody. This coverage addresses loss or damage caused by various risks, either on an all-risks basis (excluding specifically listed exceptions) or a named-perils basis.

Inclusions of Property Insurance

• Hotel Multi-Cover

This specifically covers material damage, loss of profit due to material damage or machinery breakdown, fidelity guarantee, money, and workmen’s compensation.

• Burglary Insurance

Loss or damage to property due to theft is covered under this insurance.

• Loss of Profit/ Business Interruption Cover

An insured peril like fire may cause minimal physical damage to the building or its contents but it can also severely impact business operations.

This insurance covers the insured for the loss of net profit, fixed expenses, and any additional costs of maintaining operations.

• Property All Risks

Covers property against loss or/and damage due to misfortune, accidents, or other circumstances, except the exclusions mentioned in the policy.

• Fire, Lightning, and Allied Perils Cover

It covers insured properties at specified locations, including personal and commercial. This also includes movable and immovable properties such as:

• Stock in trade
• Plant & machinery, accessories, and other equipments
• Buildings
• Contents like fixtures, fittings, furniture, and more

6. Al Sagr Engineering Insurance Dubai & Al Sagr Engineering Insurance Abu Dhabi

Engineering insurance provides financial protection against risks associated with erection projects, construction projects, equipment, and machinery involved in manufacturing and project operations.

The inclusion of engineering insurance into your business practices is a prudent decision. It offers a cost-effective solution in case of any incurred risks of accidental damage, bodily injury, or other unforeseen losses during operations within these projects or facilities.

Inclusions of Engineering Insurance

• Electronics Equipment Insurance
• Loss of Profit due to Machinery Breakdown Insurance
• Machinery Breakdown Insurance
• Contractor Plant and Machinery (CPM) Insurance
• Erection All Risks (EAR) Insurance
• Contractors’ All Risks (CAR) Insurance

7. Liability Insurance

Irrespective of the company size, every business is prone to liability risks. With the Al Sagr liability insurance, you can operate your business without worrying about income or other business losses.

Inclusions of liability insurance

1- Workmen’s Compensation and Employer’s Liability 

As per the UAE Federal Labor Law No.8 of 1980- Chapter 8, compensation is payable by an employer to their employees for any work-related accidents/ injuries. Likewise, the workmen’s compensation insurance covers the employer against their liabilities to employees in case of any injuries or in their course of employment. 

2- Professional Indemnity (Annual Cover and Project Cover)

Under this insurance, Chartered Accountants, Lawyers, Medical Practitioners, Engineers, Architects, and other Miscellaneous Professionals are covered. They are protected against their legal liabilities for breach of duty in any profession either by themselves or their employees.

3- Comprehensive General Liability Insurance (Product, Public, and Pollution)

This type of insurance specifically provides coverage to the insured if a claim is made against them for bodily injury or property damage to a third party, arising from any commodity or goods sold, installed, altered, supplied, erected, repaired, or treated by the insured in connection with the business specified, and occurring during the policy tenure outside the insured’s premises.

4- General Third Party Liability

The general third-party liability offers coverage for:

• Accidental loss or damage to the third-party property
• Accidental bodily injury to the third party

8. Miscellaneous Insurance

This type of insurance covers General Accident Insurance. It covers risks, that is material damage. Businesses can operate without any stress as their business and income remains protected.

Inclusions of Miscellaneous Insurance

1- Personal Accident Insurance

This is a global coverage available for 24 hours. The following coverages are included in case of accident:

• Accidental death
• Bodily injury
• Permanent total disablement
• Permanent Partial disablement
• Temporary Total and Temporary Partial Disablement

2- Jewellers Block Insurance

This type of policy is exclusively for jewellers. It provides coverage to the jewellers and bank notes against damage or loss from any cause. However, certain exclusions are applicable.

3- Fidelity Guarantee Insurance

The fidelity guarantee insurance offers coverage to the employer in case of any direct financial loss due to fraudulent activities and dishonesty of covered employees. Note that these employees must be included in the policy and coverage is applicable if such an act is committed within their employment tenure for their financial benefits.

4- Money Insurance

As the name says, it protects you against loss of money in circumstances, including:

• Money in Transit
  • Transit between specified locations.
• Money at Premises
  • In a locked safe (Outside or during business hours)
  • In locked drawers/ tills/ cash registers/ cabinets/ counters during business hours)

5- Plate Glass Insurance

The plate glass insurance is exceptionally designed for covering fixed plate glass against any accidental breakage irrespective of the cause, except for certain exclusions mentioned by the insurer. Besides, it replaces the broken glass with similar glass quality or even compensates for the incurred loss.

Note that no coverage is provided for glasses, which are loose or movable across the premises.

6- Computer Crime Insurance/ Banker’s Blanket Bond

An exclusive insurance to protect financial institutions and modern banks. Under the banker’s blanket bond policy, the following coverages are available:

• Money (Transit and Cash-in Safe)
• Forged drafts and cheque
• Infidelity of employees
• Counterfeit currency
• Securities
• Offices and their content damages due to break in or burglary.
• Computer crime insurance

Al Sagr Business Insurance Claim Process

You can easily file your Al Sagr business insurance claims by dropping a mail at generalclaims@alsagrins.ae. Here’s how:

1. Inform the insurer and provide details such as your policy number, the claim, your contact details, and more.
2. You’ll receive a claim reference number and details of the appointed Surveyor. Follow their instructions and provide any required documents.
3. The Surveyor will assess the claim and Al Sagr will handle communication about liability. The company will then guide you through the settlement process and make the payment as per the applicable terms.

How to Buy Al Sagr Business Insurance via Policybazaar UAE?

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Why Choose Policybazaar.ae for Buying Al Sagr Business Insurance Plans?

Unlock a wide range of benefits with Policybazaar UAE for buying your ideal business insurance in the UAE:

• We have 20+ top-notch providers across the UAE
• Shortlist and compare multiple plans altogether to find the best deal
• Availability of a 24/7 customer support team for all your business insurance needs
• Swift and convenient application process
• Free access to the website’s ‘Articles’ section for business insurance-related information
• Instant insurance renewal process
• Customizable insurance policies
• Option to switch your existing insurer at the time of insurance renewal without any hassle

Have questions about the Al Sagr business insurance plans? Get in touch with our experts at 042472904 or mail us at communication@policybazaar.ae.

Besides, look into some of the most frequently asked questions about the Al Sagr business insurance in the UAE!

Frequently Asked Questions