Insurance House Business Insurance

With a proven track of experience, Insurance House Company is known for its affordable products and services that adhere to international standards and local regulations. With a diverse clientele, their operations extend across key locations in Abu Dhabi, Dubai, and Sharjah, where the company offers a range of comprehensive products, including -

• Motor Insurance
• Health Insurance
• Property Insurance

Additionally, the Insurance House Business Insurance offers specialised coverage for Energy, Marine, Engineering, and Aviation, ensuring solutions for various industries and individual requirements.

Types of Insurance House Business Insurance Plans

Here is a list of business insurance policies that are offered by Insurance House:

1. Marine Insurance

What is Marine Insurance?

Marine Insurance protects you against loss or damage to ships, cargo, and other goods transported by sea. It also covers risks related to marine activities, including accidents, theft, and natural disasters.

Types of Marine Insurance

This Insurance House plan includes 3 types of marine insurance -

• Marine Cargo Insurance 
• Hull Insurance 
• Yacht Insurance

1- Marine Cargo Insurance

Cargo Insurance provides coverage for your goods while they are being transported by air, sea, or land. It also protects the cargo during intermediate storage.

This type of Insurance House business insurance can be tailored to meet your needs: 

• All Risk Basis: Provides coverage for most types of damage or loss
• Restricted/Extension Basis: Includes coverage for specific risks such as wars and strikes

2- Yacht Insurance

Yacht Insurance covers yachts and pleasure boats. It protects against various risks such as damage to the yacht, theft, and liability for accidents or injuries that occur while using the vessel.

Coverage can include -

• Repairs 
• Replacement 
• Legal expenses related to the operation of the yacht 

3- Hull Insurance

Hull Insurance covers ships and other waterborne properties. It protects your business against perils such as fire, piracy, and other sea-related risks.

Liability Coverage: Includes indemnity for collisions and related liabilities. Additional policies under this category cover -

• Ship Repairer Liabilities
• Builder Risk
• Charterer’s Liabilities
• Crew
• Personal Accident Coverage

2. Aviation Insurance

This type of Insurance House Business Plan provides comprehensive coverage for a variety of aircraft operations, including -

• Hull Damage: Protection against damages to the aircraft's hull, whether it’s a rotor or fixed-wing aircraft
• Third-Party Liabilities: Coverage for liabilities related to passengers, cargo, and third-party properties or bodily injuries
• War and Other Perils: Protection against hull damage due to war or similar risks
• Consequential Losses: Coverage for losses such as the loss of use of the aircraft
• Personal Accident Cover: Insurance for crew members, pilots, and passengers
• Refuelling Liabilities: Coverage for liabilities related to refuelling operations
• Operator’s Liabilities: Protection against liabilities incurred by the aircraft operator

3. Property & Casualty Insurance

What is Property and Casualty Insurance?

Business operations face numerous risks, including material damage from fire and natural disasters. Financial losses due to liabilities, and contingencies like theft and infidelity also pose significant threats. In such cases, Property and Casualty insurance provides a broad safety net, covering various potential threats to ensure business continuity.

This comprehensive Insurance House business plan ensures that your business can recover swiftly with minimal disruption.

Key Benefits:

• Material Damage Coverage: You will get protection against loss or damage to property caused by fire, natural calamities, and other hazards
• Financial Loss Coverage: Safeguards you against financial setbacks due to liabilities, theft, and other unexpected events
• Business Continuity Support: Helps your businesses recover and resume operations swiftly following covered incidents

Types of Property Insurance

There are different types of plans that cover various needs of business -

• Property All Risks 
• Fire & Allied Perils
• Professional Indemnity 
• Public and Product Liability
• Medical Malpractice 
• Workmen’s Compensation
• Jewellers Block
• Business Interruption
• Event Insurance

1- Property All Risks Insurance

This type of Insurance House business insurance plan offers comprehensive coverage for physical loss, destruction, or damage to insured property within the policy period, subject to specific terms, conditions, and exclusions. This policy provides broader protection than standard Fire and Allied Perils insurance. Additionally, it can be customised based on clients' professions and needs.

Key Extensions Available:

• Loss of Profits/Business Interruption: Covers financial losses due to interruptions in business operations
• Loss of Rent: Compensates for loss of rental income if the insured property becomes uninhabitable
• Third-Party Liability: Includes landlord’s liability towards tenants and tenant’s liability towards landlords
• Strikes, Riots, and Civil Commotions: Protection against losses resulting from social disturbances
• Malicious Damage: Coverage for intentional damage caused by others
• Accidental Damage to Plate Glass: Covers damage to plate glass fixed to the building
• Debris Removal Expenses: Costs incurred for clearing debris after a loss or damage event
• Fire Brigade Charges and Extinguishing Expenses: Covers expenses related to fire-fighting services
• Professional Fees: Includes fees for architects, surveyors, legal, and consulting engineers related to property damage

2- Fire & Allied Perils

The Insurance House business insurance provider offers protection against a range of risks related to property damage. There are two types of policies -

• Fire Policy: Covers losses or damages caused by fire and lightning.
• Fire & Allied Perils Policy: This provides extended coverage and includes all the protections of the fire policy, plus additional perils such as -
  • Earthquakes and Volcanic Eruptions
  • Aircraft or Aerial Device Impact
  • Strikes, Riots, and Civil Commotions
  • Explosions
  • Damage from Vehicles, Horses, or Cattle
  • Bursting or Overflowing of Water Tanks, Apparatus, or Pipes
  • Professional Fees: Architects, surveyors, legal, and consulting engineers
  • Loss of Profits/Business Interruption
  • Loss of Rent
  • Fire Brigade Charges and Extinguishing Expenses
  • Storms, Tempests, and Floods
  • Third-Party Liability: Includes landlord and tenant liabilities
  • Malicious Damage
  • Theft/Burglary (following forcible entry)
  • Accidental Damage to Plate Glass Fixed to Buildings
  • Removal of Debris Expenses

3- Professional Indemnity

This insurance safeguards professionals against potential legal and financial repercussions arising from their work. Professional Indemnity insurance is essential for professionals such as architects, engineers, surveyors, consultants, attorneys, and auditors. 

What’s Covered?

• Claims for Damages: Covers financial liabilities arising from breaches of professional duty, errors, omissions, or negligence
• Legal Expenses: Includes costs for defending against claims related to professional services

Policy Options:

• Annual Basis: Covers all projects throughout the year
• Project Basis: Provides coverage for a specific project only

4- Public and Product Liability

Public & Product Liability Insurance provides essential protection for individuals and businesses against legal liabilities arising from negligence. 

This insurance ensures that you are financially safeguarded against potential legal claims and associated costs.

What’s Covered?

• Third-Party Property Damage: Protection against claims for damage to property belonging to others.
• Bodily Injury or Death: Coverage for injuries or fatalities that occur due to the insured's activities or products.
• Legal Expenses: Covers costs incurred in defending against liability claims, with the insurer's consent.

5- Medical Malpractice

Medical Malpractice insurance is designed for healthcare professionals, such as doctors and paramedics. This type of Insurance House business insurance ensures that medical professionals are protected from the financial consequences of malpractice claims.

What’s Covered?

• Liability for Bodily Injury or Death: Protection if a patient suffers harm or dies due to alleged professional negligence or errors.
• Third-Party Claims: Covers legal and financial liabilities arising from claims made by patients or their families.

6- Workmen’s Compensation

Workmen’s Compensation Insurance is mandated by Law No. 8 of 1980 in the UAE. It mandates that all employers provide coverage for their employees against various employment-related risks.

What’s Covered?

• Death: Compensation for employees who die as a result of workplace injuries.
• Disabilities: Benefits for employees who suffer from disabilities due to work-related accidents.
• Medical Expenses: Coverage for medical costs incurred from injuries sustained during employment.

Note: The specifics of coverage may vary based on the policy and the insured’s requirements. This insurance ensures that employees are protected against financial losses from work-related incidents.

7- Jewellers Block

This Insurance House business insurance provides specialised protection for dealers of gold and jewellery. It ensures that jewellers are safeguarded against a broad spectrum of risks related to their stock and business operations.

What’s Covered?

• Stock: Includes gold, jewellery, precious stones, and other valuable items
• Fidelity: Protection against employee dishonesty and theft
• Property: Covers furniture, fittings, and decorations within the business premises
• Sleight of Hand: Coverage for losses due to fraudulent activities, such as pickpocketing

8- Business Interruption

Business Interruption insurance provides financial protection when a business faces disruptions due to material damage caused by a fire or something else.

It helps mitigate the financial impact, ensuring that businesses can manage their fixed costs and recover more quickly. Additional coverage options can be customised to suit your specific needs.

What’s Covered?

• Loss of Revenue: Compensation for the income lost due to the halt in production or business operations
• Ongoing Expenses: Coverage for continuing expenses that persist despite the interruption, such as employee wages, rent, and utility bills

9- Event Insurance

This type of Insurance House business insurance is designed to protect organisers of events such as weddings, conferences, seminars, and personal gatherings against financial losses from unexpected cancellations. 

What’s Covered?

• Cancellation Due to Specific Causes: Provides indemnity if the event is cancelled due to natural calamities, death of a ruler or significant figure, or other covered reasons
• Financial Protection: This will help you in covering the costs incurred by organisers due to the cancellation or postponement of the event, as outlined in the policy terms

4. Engineering Insurance

What is Engineering Insurance?

Engineering Insurance provides comprehensive protection for businesses involved in construction, installation, and machinery operations. This “All Risk” Insurance House plan saves you against losses from various economic losses, ensuring that businesses can operate with confidence and financial security.

What’s Covered?

• Construction Projects: Risks associated with building and civil engineering projects
• Installation Projects: Provides coverage for equipment and machinery being installed
• Operational Machinery and Equipment: Protection for machinery and equipment in use

Types of Engineering Insurance

1. Contractor’s All Risk 
2. Contractors Plant & Machinery 
3. Erection All Risks 
4. Machinery Breakdown
5. Electronic Equipments 
6. Deterioration of Stock

1- Contractor’s All Risk

Contractors' All Risks (CAR) Insurance provides comprehensive coverage for construction projects. It safeguards against unexpected losses or damages, and helps contractors manage risks effectively.

Key Features -

• Broad ‘All Risks’ Protection: Covers accidental physical loss or damage to contract works, materials, and equipment involved in the project. This broad coverage includes any risks not specifically excluded in the policy
• Contractor Plant and Machinery: Provides protection for machinery and equipment used on site
• Temporary Facilities: Protects temporary structures and facilities associated with the construction project
• Third-Party Liability: Covers liabilities the contractor may have towards third parties, ensuring financial protection against potential claims

2- Plant & Machinery Insurance

What is Plant and Machinery Insurance?

This Insurance House business insurance plan offers protection for equipment and machinery against sudden physical losses or damages from any cause not specifically excluded in the policy. It covers various risks such as damage, theft, and breakdowns, ensuring that your business is protected from financial losses. 

3- Erection All Risks

Erection All Risks (EAR) Insurance safeguards against unexpected and sudden bodily losses or damages to machinery and equipment used in the erection process.

What’s Covered?

• Temporary Facilities: Includes protection for temporary structures associated with the project
• Principal Existing Property: Provides coverage for any damage to the principal's existing property occurring during the erection process, including during testing or commissioning
• Third-Party Liability: May offer coverage for liabilities the contractor may have towards third parties

4- Machinery Breakdown

This coverage protects you against any sudden significant losses or harm to the machinery caused by electrical, mechanical, or external factors. It helps you cover repair or replacement costs, minimising the financial impact of machinery breakdowns.

This Insurance House Business Plan is crucial for safeguarding your business operations against costly disruptions and maintaining financial stability in the case of machinery failure.

5- Electronic Equipment

With this insurance, you can protect your business against various risks associated with electronic and electrical equipment, helping to manage and maintain operations during unexpected disruptions. 

Key features -

• Increased Cost of Working: Covers additional expenses incurred due to the breakdown of equipment. This includes costs for hiring substitute equipment, transport charges for personnel, accommodation expenses, and extra costs for night work or work done during public holidays.
• Coverage for Equipment: Covers damage to electronic data processing (EDP) equipment, medical devices, communication systems, navigational tools, and other electrical equipment due to unforeseen and sudden causes.
• External Data Media: Includes coverage for the loss of external data media, such as stored information, and covers the costs associated with reprocessing and retrieving lost data.

6- Deterioration of Stock

Deterioration of Stock Insurance provides coverage for losses related to the spoilage or deterioration of goods, such as food, pharmaceuticals, or other items.

Causes of Deterioration

It includes damage resulting from unforeseen incidents such as power outages, equipment failure, changes in temperature, storage conditions, or other events affecting storage conditions.

What’s Covered?

This business insurance plan helps cover the financial impact of lost or spoiled stock, including replacement costs and potential loss of income from unsellable goods.

It is essential for businesses that deal with perishable items, to ensure that they are financially protected against losses from stock deterioration.

Insurance House Company Claim Process

You can apply for business insurance on Insurance House online or offline through several convenient methods -

1. Visit the official website of Insurance House Abu Dhabi
2. Click on the ‘Contact Us’ button on the homepage
3. Fill up the necessary information 
4. Receive a call from their team member

Or 

You can visit the Insurance House Dubai  branch or call them at 600 511112. Alternatively, you can reach out to the broker who assisted you with your insurance policy.

Why Choose Policybazaar.ae for your Business Insurance Needs?

Policybazaar.ae understands the need to protect your business from unforeseen dangers and helps you every step of the way. It offers an exceptional platform where you can compare and purchase business insurance from top insurers, including Insurance House.

Here’s why you should choose Policybazaar UAE for getting your business insurance policy -

• Comprehensive Coverage Options: You will get a diverse range of insurance policies tailored to different business needs, including property, liability, machinery, and specialised coverages.
• Expert Guidance: Connect with a team of experts, who will offer you valuable advice and personalised recommendations to help you select the right insurance policies for your business.
• Competitive Quotes: You can get access to competitive quotes from leading insurance providers, ensuring you get the best value for your coverage.
• Easy Comparison: Use Policybazaar.ae online platform to easily compare various insurance policies, coverage options, and premiums to make informed decisions.
• Efficient Claims Process: We assist you with a smooth and efficient claims process, helping you manage and resolve claims promptly. Our team is committed to assisting you throughout your insurance journey.