UAE – Encouraging tenants to review replacement home insurance
Tuesday, 06 07 2016, Category: Insurance and Reinsurance, Country: U.A.E
Insurance experts encouraged tenants in the United Arab Emirates to take into consideration the “replacement home” insurance within the range of insurance solutions offered to individuals in order to avoid the high costs in case of accident or emergency that force them to move to temporary new housing.
According to a statement received by “Arabian Business”, the Nexus Group specialized in the insurance brokerage sector indicated that although the owners should provide a replacement housing within the comprehensive insurance policy for buildings, the maximum period granted for replacement homes is insufficient most of the time.
Mr. Philip Ashkuri Head of General Insurance at Nexus Group said “the temporary replacement housing provided by the home owner is insufficient in most of the cases. Therefore, tenants will face hardship and material costs if they have to spend several months before returning home”.