Sukoon Takaful Business Insurance

For your business, you can get a range of Sukoon Takaful business insurance options to cover various needs, including -

• Property
• Engineering
• General Accidents
• Marine
• Liability
• Medical Takaful

The company’s strong financial background and quick claims process further ensure that you can easily receive the support that you need.

Types of Sukoon Takaful Business Insurance Plans

The key types of Sukoon Takaful Insurance for businesses in UAE are as follows -

1. Marine Insurance

What is Marine Insurance?

Marine insurance covers ships, cargo, and yachts against risks and losses that may occur during transit from one place to another. This includes protection against accidents, storms, and other perils that could damage or destroy vessels and their cargo.

With this Sukoon Takaful business insurance type, you not only safeguard your assets but also get protection against potential claims from passengers or crew.

Types of Marine Insurance

This plan can be divided into 2 parts, with each one serving different aspects of marine activities -

• Marine Cargo Insurance
• Yacht Insurance

1- Marine Cargo Insurance

What is Marine Cargo Insurance?

Marine Cargo Insurance covers goods transported by sea, air, or land, financially protecting against various risks such as loss or damage. This plan by Sukoon Takaful Insurance ensures that your cargo is safeguarded, no matter where it is being transported around the world.

2- Yacht Insurance

What is Private Pleasure Boats and Yachts Insurance?

Private pleasure boats and yacht insurance offer comprehensive coverage for recreational yachts and boats. This policy protects your vessel against a wide range of sea perils. It also includes liability coverage for any claims made by third parties. 

2. Engineering Insurance

What is Engineering Insurance?

With this Sukoon Takaful business insurance plan, you can safeguard your business against financial impacts from accidents, equipment breakdowns, and other unexpected events that might disrupt business operations. 

Ensuring that you’re prepared for unforeseen challenges, this coverage helps you to maintain continuity in business and mitigate potential losses.

Types of Engineering Insurance

• Contractors All Risks (CAR)
• Erection All Risks (EAR)
• Electronic Equipment 
• Machinery Breakdown

1- Contractors All Risks

What is Contractors All Risk (CAR) Insurance?

Contractors All Risk (CAR) Insurance offers comprehensive coverage for accidental physical loss or damage to contract works during a civil project. This policy provides ‘all risk’ protection, ensuring that any unforeseen incidents affecting the construction or civil works caused by external factors are covered. 

As an essential safeguard for contractors, it helps in managing risks and ensuring that projects proceed smoothly without unexpected financial setbacks.

2- Erection All Risks (EAR)

What is Erection All Risks (EAR) Insurance?

This type of Sukoon Takaful business insurance specifically covers the installation and assembly of mechanical and electrical plants. It is designed to protect the interests of suppliers, manufacturers, contractors, and subcontractors involved in these projects.

What’s Covered?

EAR Insurance covers risks associated with the storage, assembly, erection, and testing of plant and machinery. It ensures that any accidental loss or damage during these critical phases is covered. With this coverage, your business can manage potential financial impacts and ensure that the installation process proceeds smoothly.

3- Electronic Equipment

What is Electronic Equipment Insurance?

Electronic Equipment Insurance provides coverage for accidental loss or damage to electronic devices and machinery. This includes protection for various types of electronic equipment, such as computers, servers, and other critical tech assets.

What’s Covered?

In addition to covering physical damage to the equipment itself, this Sukoon Takaful business plan often includes extra protection for data media. In plain terms, it also covers material damage and loss of information on external data storage media such as magnetic disks, tapes, and cards. This ensures that both your hardware and valuable data are safeguarded.

4- Machinery Breakdown

What is Machinery Breakdown Insurance?

Machinery Breakdown Insurance offers protection for various types of plants and machinery against unforeseen and sudden physical damage. This Sukoon Takaful Insurance plan covers the cost of repairing or replacing damaged parts, ensuring that your equipment remains operational and effective.

What’s Covered?

The coverage extends to machinery while it is in use, at rest, or being dismantled for cleaning, inspection, and overhauling. Note that the policy also covers machinery during relocation or while in the course of its operations, providing comprehensive support to manage the financial impact of unexpected breakdowns.

3. Property Insurance

What is Property Insurance?

Property Insurance is a broad term that refers to coverage designed to protect your property — whether residential or commercial — from various risks. This type of Sukoon Takaful business insurance typically covers damage or loss due to events such as fire, theft, vandalism, and natural disasters. 

It can include both the physical structure of the property and the contents inside. These solutions are also Sharia-compliant, meaning they align with Islamic laws and principles. 

Types of Property Insurance

This plan is divided into 2 major parts -

• Property All Risk
• Business Interruption

1- Property All Risks

Property All Risk Insurance is a comprehensive plan that protects against a wide range of risks. This policy of Sukoon Takaful Insurance typically covers:

• Homes: Protection against damage or loss due to fire, natural disasters, explosions, impact damage, burglary, and so on
• Workspaces and Production Units: Includes coverage for damage to business premises and their contents as well as potential losses incurred due to industrial and commercial risks
• Large Commercial Properties: Such as shopping complexes that require extensive coverage due to their size and complexity

2- Business Interruption

Business Interruption Insurance financially covers the loss of income that a business might suffer following a covered event, such as a fire. It helps you cover the loss of profits and operating expenses while the business is temporarily unable to operate. 

It ensures that even if your business is disrupted, you can still manage to cover ongoing expenses and maintain financial stability until the business is back to normal operations.

4. Liability Insurance

This Sukoon Takaful business insurance plan offers financial protection for people and businesses if they're held responsible for injuries or damage to others or their property. It helps in covering legal costs and any payments that might come from lawsuits or claims against you. Plus, it has a straightforward claims process and is designed to meet the needs of both individuals and businesses.

Types of Liability Insurance

• Workmen' s Compensation
• Product Liability
• Public Liability
• Employers Liability

1- Products Liability

What is Products Liability Insurance?

This type of Sukoon Takaful business insurance covers manufacturers, suppliers, and retailers for claims arising from injuries, illnesses, or property damage caused by products they have made, sold, or supplied. 

This insurance is essential for any business involved in the production or distribution of goods as it protects against legal liabilities if a product causes harm or damage.

2- Public Liability

What is Public Liability Insurance?

With this Sukoon Takaful Insurance, you can protect your business and employees from claims made by third parties for accidental bodily injury or property damage caused by your business's activities. This type of insurance covers incidents where the business or its employees are found to be at fault or negligent. 

3- Workmen’s Compensation

What is Workmen’s Compensation Insurance?

Workmen’s Compensation Insurance covers the relevant costs if your employees get injured or sick while working. It pays for their medical bills and lost wages so that they get the support they need if something goes wrong on the job.

4- Employer’s Liability

What is Employers’ Liability Insurance?

Employer’s Liability Insurance protects you from claims made by employees or their families if someone gets hurt, sick, or dies due to unsafe working conditions or errors by your business. 

This Sukoon Takaful Insurance plan covers claims related to safety issues, poor training, or unsafe work environments. It helps you handle the financial risks of these claims.

5. Professional Indemnity Insurance

Professional Indemnity Insurance is designed for professionals like architects, engineers, lawyers, doctors, and consultants. It protects them against legal claims made due to mistakes or negligence in their professional work. It also covers the costs of defending against these claims in court and any related expenses.

6. Group Health Insurance

This type of Sukoon Takaful business insurance provides group health coverage to families, small and medium-sized businesses (SMEs), and large companies. 

It offers a range of options, including standard plans that are already set up or customised plans that you can tailor to your specific needs. With these plans, you can provide peace of mind to your employees and help them stay financially protected.

Sukoon Takaful Business Insurance Claim Process

Through the official website of Sukoon Takaful website, you can easily manage your claims process.

Simply follow these steps to file a claim -

1. Visit the official website of Sukoon Takaful Insurance.
2. Go to the ‘Claims’ section at the top corner of the homepage.
3. Fill out the claim details like personal and insurance information. 
4. Attach policy documents and send the form by clicking on the ‘Submit’ button.

Why Choose Policybazaar.ae for your Business Insurance?

With Policybazaar.ae, you can easily find the best insurance for your business. On top of that, you also get the best guidance to find the ideal plan without much hassle.

Here are the reasons why you should choose Policybazaar UAE to buy business insurance:

• Wide Range of Options: You can access a broad selection of business insurance policies from the top providers in one place. 
• Easy Comparison: Easily compare different plans and coverage options side-by-side to find the best fit for your business.
• Expert Advice: Get professional guidance and support from our expert team to help you make informed decisions.
• Convenient Process: Enjoy a seamless experience with online application, quick approvals, and easy management of your insurance policies.
• Customer Support: You will receive dedicated 24*7 customer service to address any questions or concerns throughout your insurance journey.