As required by Jointly Owned Property Law regulations and directions, the Owners Association must maintain a minimum level of insurance. This includes:
- Property insurance
- Public liability
- Fidelity guarantee
- Board members’ liability
- Temporary accommodation
- Machinery breakdown
Your community is insured for accidental, physical loss, damage or destruction to the common property. The perils covered include but are not limited to fire, lightning, aircraft damage, explosion, earthquake, riot, strike, malicious damage, storm, flood as well as bursting or overflowing of water apparatus/tanks/pipes.
Cover is also extended to include the cost of rent for alternative accommodation up to AED 100 million in the annual aggregate across all Emaar communities; in addition to public liability insurance coverage for injury to third parties for loss of or damage to third party property.
Finally, we have you covered against political violence. Your community is insured against loss or damage liability for injury to third parties or for loss of or damage to third party property by an act or series of acts of sabotage and terrorism, malicious damage, riots, strikes, civil commotion, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, coup d'etat, insurrection or mutiny and war.
Important: Insurance coverage excludes loss or damage to homeowner's/tenant's private plot, villa and personal belongings.
While there is no obligation to do so, it is highly recommended that you take out adequate insurance on the contents of your unit. The insurance maintained by the Owners Association only covers the common areas of the community. Therefore, contents such as your furniture, electrical appliances, curtains and carpets would not be covered. Homeowners can suffer major losses if their personal property is not insured if there is a fire, unexpected events, natural calamities, water damage or even accidental damage.
Contents insurance usually covers the paint finishes on your walls and ceilings too, which are not covered by the Owners Association insurance.
So please make sure you protect your home and belongings against the unexpected, with a simple, straightforward insurance policy. Insuring household contents can be done easily by opting for a home insurance plan – applying for one is simple. Often all you need to do is complete a proposal form including your name, location of the property and the sum you wish to insure your home for – usually insurance companies offer guidelines for this and you can add up the value of the contents of your home for a comparison too. We encourage you to contact any local insurance company, broker or bank that offers home contents insurance.
Please refer to the Community Rules, clause 2.8.10.
Most plans cover water damage, fire, natural disasters and theft but not all cover you against damage you may inadvertently cause yourself. If you’re a homeowner, ensure you choose a plan that also covers against damage caused by tenants.