Property Insurance FAQ | Nasco Middle East Insurance Brokers Dubai, UAE- Protects your assets.

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Property Insurance

Property Insurance Dubai, UAE - Nasco Middle East’s Property Insurance provides you with a solution to protect your assets.

Property Insurance Dubai, UAE

The policies we offer are international in nature, yet coupled with a local understanding of the market. We provide competitive terms which are backed by highly-rated insurers. What is property insurance? As your property (buildings, contents, furniture/fixtures, plant & machinery etc.) is exposed to various perils/risks that can cause loss/damage and consequently drain your resources, they need to be well protected by insurance policies. Losses/liabilities can also arise due to your business activities/hazardous processes being carried in your location which need to be adequately addressed. How is our property insurance different? Property insurance involves understanding the risks that your property is exposed to, and which need to be identified and covered. Nature of losses and related risks differ for various activities being carried out and need to be understood to arrive at suitable solutions. We specialize in structuring appropriate insurance programs which would cater to your specific needs. What are the major types of property insurance program:

Property insurance Property business interruption insurance Machinery breakdown insurance Machinery loss of profit insurance Boiler insurance Electronic equipment insurance Deterioration of stock insurance

We structure customized insurance solutions to protect your property against accidental loss or damage. Whether you own a manufacturing unit, a trading house, an office or a villa, we are here to protect you. The main policies offered by us are:

Property All Risk Insurance Business Interruption Insurance Fire & Allied Perils Insurance Burglary Insurance Householders Comprehensive Insurance Business Comprehensive Insurance

What is Property All Risk Insurance?

Property All Risk Insurance offers the most comprehensive coverage for unforeseen losses or damages to your property arising from every possible incident that is not specifically excluded under the policy.

How to arrive at insurance values?

Valuation is very important under any insurance contract. If you insure lower than the actuals, then you end up being underinsured at the time of loss. If you over-insure, then you only end up paying premiums on higher valuations. Your physical assets should generally be valued at reinstatement value, which means new for old. Stocks are generally valued at cost.

As a general practice, you should revalue your assets every three years in order to ensure that your valuations reflect your risk.

What is not covered under the policy?

The policy generally does not cover war & terrorism, losses arising out of nuclear weapons, radioactive contamination, normal wear & tear, money, cash, cheques & bullion, animals & plants, consequential losses, dishonest & fraudulent claims, unexplained & mysterious disappearance, losses from theft; however burglary is covered, gradual contamination & pollution etc.

 

Please note that the above list is not exhaustive.