Why you need Home Insurance

06/29/2021 - 6 minute read

Home insurance (noun)
Insurance that you buy to protect your home and/or the things inside it.

After years and years of saving up and working hard to buy your dream home, you’ll probably be required to take out a home insurance policy too. But what exactly is home insurance?  If we’re being honest, most people don’t really understand what it is. And we don't blame them, these policies can be, well, boring 🥱.

Home insurance is more than just one item on your to-do list when buying a house. And understanding your specific policy is important to knowing what is and isn’t covered should anything happen to your home.

And that’s where we come in. We’ve gone ahead and done the research, so you don’t have to. So just relax, get comfortable, and read this quick guide for everything you need to know about home insurance!

What is it, exactly? 🏰

In the most basic terms, home insurance is like a safety net for your house. You pay a price (depending on the benefits you want) and in return, your insurer provides you with financial reimbursement should anything happen to your home.

Home insurance policies cover many things. This includes the repair costs of fire damage, sandstorms, burglaries, accidents, etc. (Don't worry, we'll get to the specifics in a second).

Why do I need Home Insurance? 🤷‍♀️

Home insurance is not really a matter of choice for homeowners. You’ll probably be required to take out a policy as soon as you purchase your house. But just because it’s a requirement in most places, that doesn’t mean it’s not the smart thing to do regardless.

You see, home insurance doesn’t just cover the structure of your house in case one of those UAE sandstorms decides to be extra mean, or if your child thought playing with matches was a good idea. It can also cover your personal belongings if they were stolen, including your passport, laptop, a favorite painting, and all the things you hold near and dear.

What does Home Insurance cover?

1. Your home (obviously) 🏠 

If your house sustains damage to its outer or inner structure, your insurance policy can help cover the cost of repair. Some things will be excluded depending on the type of policy you purchase (we’ll get to that in a minute), so make sure to know exactly what is and isn’t included. But say something does happen that makes it almost impossible to stay at home - your policy can also cover the cost of alternative housing until the damage is repaired and your house is restored to its former glory.

Also, not only is your house protected, but anything built on your property should be covered by your policy as well. This includes things like your carport, your fence, shed, etc.

2. Your belongings 💻

Your prized possessions are also covered by home insurance. This includes things like your computer, your treadmill, even your shisha collection. And the stuff doesn’t have to stay in your home to be insured. Even if it was left outside but belongs to you, your policy will cover it.

Say you went biking in Al Qudra and your bike was stolen, your home insurance can cover the cost of replacing it. Most home insurance policies also cover valuables like art pieces, instruments, and jewelry. But make sure to read your policy thoroughly to understand the extent and add more coverage if need be.

3. If you ever get in *cough* trouble 👨🏻‍⚖️

Let’s hope it never comes to this, but if you find yourself in any legal trouble, that’s when you can utilize your personal liability cover. This can help cover the cost if someone took legal action against you for getting injured on your property, if you damaged their own property, etc.

4. Medical Expenses 🤕

Say someone slipped and broke their arm in your backyard, and their medical bill totaled AED 2,000. Believe it or not, your home insurance policy can cover their medical bills too! But please note that this type of coverage has a limit, so make sure to check the details in your insurance policy before you invite any of your clumsy friends over.

It’s also important to know not just what is covered, but who is covered by your home insurance policy. Essentially, anyone who lives in your home and is legally related to you (including spouses and adopted children) is covered. And if you want to add someone else that isn’t officially related to you but lives in your home, you can customize your policy to cover them at an extra cost.

What isn't covered? ⛔️

Damage from natural disasters like hurricanes and earthquakes is not usually covered by home insurance – but thankfully these things are rare in the UAE. But say you just watched “2012” and want to be extra cautious, you can add additional benefits to your standard policy (at an extra rate, of course). Most home insurance policies also exclude things like insect infestations, burglaries involving cash, nuclear disasters, pool accidents, or accidents involving aggressive animals.

How much do I really need? 🎯

This depends entirely on you. When it comes to this, there’s no “one size fits all”. The right home insurance policy can save you a lot of time, money, and unnecessary trouble – but it looks different for everyone. So, make sure to consider the following things before purchasing your policy to get the right amount of coverage for your specific situation:

  • How much you invested in the structure of your home
  • How many valuables you keep in your home
  • The condition of your house
  • Your surroundings and environment
  • Likelihood of natural disasters occurring in your location

The most important thing is to take the time to really assess the different coverage options available to you. Take the time to consult your agent (they might think of something you completely forgot) and don’t rush the process. We know buying insurance policies isn’t the most exciting thing in the world, but you owe it to yourself and to your home to give it the protection it needs.

And don’t forget that, for the most part, cheapest policy = lowest coverage. With insurance, you get what you pay for - so try to think ahead and understand how much money you can save with a better insurance policy in the future, than with a cheaper one right now.

Can I update my coverage after I buy a policy? 📝

Of course! All you need to do is contact Beema’s customer support team and let them know what you’d like to change.

Yalla, get insured! 🛡️

Now that you’re a home insurance pro, you can purchase a policy without feeling like you're in uncharted territory!

And remember, home insurance is designed to give you peace of mind. So, don’t skip out on understanding your policy fully or purchasing one without getting into the fine print. Make sure to take full advantage of the available services that your insurer offers, and get your home the insurance it deserves!

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