What Is Property All Risks Insurance?
Property all risk insurance Dubai, also known as business property insurance, covers risks of physical loss, destruction, or damage to the insured property during the policy’s active course. The insurance policy is subject to specific terms, conditions, and exclusions. The insurance plan’s overall objective is to protect business owners against the loss of their property due to significant damages. It offers extensive coverage, which applies to all damages included in the policy. The sum insured may be either based on the true value or the new replacement value of the property but should be sufficient to cover the total exposure.
Depending on the plan, the insurance policy further covers stocks, finished products, raw materials held in a storage facility, furniture & fittings, office equipment, plants, buildings, etc. With a property all risk insurance policy acquired through Lifecare, you can enjoy complete peace of mind due to our extensive coverage. Below is a list of perils covered under most Property All Risks Insurance Policies Dubai:
- Fire damage and loss of rent due to fire
- Damage due to lightning
- Natural disaster including floods, storms, earthquakes, and cyclones
- Burglary and malicious damage
- Water pipe and apparatus burst causing a flood
- Malicious damage due to riots and strikes
- Accidental or impact damage
Benefits of having Property All Risks insurance in Dubai, UAE
Property all risks insurance Dubai protects business owners from the threat of damages, extensive repair costs, loss of rent and income, and loss of property. Therefore, many benefits come with insuring your business with this policy, including:
- It covers the cost of significant losses and damages
- The business owner shares the financial burden with the insurance company
- Damaged goods are replaced
- Temporary accommodation will be provided if needed
- It offers a sense of security
Steps to have Property All Risks Insurance
Step1: Contact Lifecare
The easiest way to get started with property all risks insurance Dubai is to contact Lifecare International and speak with one of our live insurance specialists.
We will work through your questions and concerns during your first point of contact and provide you with clear, comprehensive answers that can help get you started. If you can not reach an agent at the time of your call, feel free to visit our website where you will find our contact form. Once this is filled out and submitted, one of our insurance specialists will contact you to answer your questions and get you started.
Step 2: A specialist will call and gather all relevant details.
Following your preliminary conversation, a Lifecare insurance specialist will be assigned to you and will contact you to get your application started.
They will ask you a list of questions pertaining to your business property and your budget. This information is essential for them to create a customized policy for your unique needs.
Step 3: A personalized quotation will be provided based on the requirements
At this point, your agent will have created a list of personalized quotations based on the
information you provided them.You will be presented with a few policies to choose from that range in price and coverage. During this step, the insurance specialist will remain transparent regarding the cost, benefits, and other aspects of your insurance coverage and policy. This is to maintain complete clarity and honesty.
Step 4: The client can select the plan that suits their needs and budget
You will be given time to review the list of policies to comfortably decide what works best for you without being pressured under a time constraint. If you need to take the documents home to reivew them, we welcome this.
Before you go ahead and commit to a policy, it is recommended that you take the time to review everything in detail to make the most appropriate selection. Everyone has a different budget, so it is important you commit to something that is the most adequate for your situation.
If you have any questions at this point, the insurance agent will be happy to assist you with selecting the most appropriate policy.
Step 5: Lifecare will help with all the paperwork and ensure everything is completed to your satisfaction.
Once you have decided on the best policy, the insurance agent will walk you through the final steps. Filling out insurance paperwork can be tedious and takes time; therefore, we want to ensure you have the assistance needed to fill out everything accurately.
You will be required to submit personal ID and business documents as part of the underwriting process. We want to ensure this step is completed accurately, without error and delay.
The quicker we get this done, the sooner you’re set up with a policy to protect your hard-earned assets.
Cost of Property All Risks in Dubai
The cost of property all risk insurance in Dubai depends on the policy, and it varies widely. To get a better idea of price points and policy packages, you can contact one of our agents or visit us here to receive your personalized quote. We will work with you to find the most suitable plan at a price point you are comfortable with.
Why work with Lifecare?
Working with Lifecare is an experience like no other. Unlike other insurance providers, we don’t end the relationship with our policy holder once the policy has been finalized. We will always have an insurance representative available to work with you and to answer any questions you may have along the way.
Moreover, Lifecare designates a relationship manager to handle active policies and work with the policyholder for the life of the plan. They will be available during times of crisis if the policyholder needs to withdraw their policy and requires guidance.
Our property all risks insurance Dubai can be customized to meet your needs and at price points that meet your unique budget. We have live agents available 24/7 to answer any questions you have and will assist you with finding the best insurance policy for your business.