61 per cent of Dubai Residents’ Homes are Uninsured
Monday, 08 24 2015, Category: Insurance and Reinsurance, Country: U.A.E
A recent survey conducted by MoveSouq.com, a Dubai-based online specialist market for home services, and "RSA", a leading insurance services’ provider in the region, conducted that more than 6 out of 10 (61 per cent) of residents in Dubai do not have home insurance. The findings were based on an online survey conducted on more than 200 participants working in Dubai.
The rate of adoption of home insurance among homeowners is much higher, since two-thirds (66 per cent) have a policy to cover their homes and contents. However, only a quarter of renters (25 per cent) feel the need for home insurance. The survey also showed that 67 per cent of residential buildings and 50 per cent of villas in Dubai are uninsured.
Bana Shomali, the CEO of MoveSouq.com, stated that: "In view of the commonly reported incidents of fires in residential buildings in main residential areas of Dubai, it is very surprising that a lot of houses are still not uninsured when basic content insurance is available on a large scale and at reasonable prices."
Source: Al Watan Voice