Your home is by far one of the most valuable assets you own. It’s where you return to at the end of a long day, where you keep all of your personal belongings, and it contains memories in every corner.
Naturally then, making sure your home is fully secure is one of the first things you need to do. Even with security systems, certain risks, such as fires or natural disasters are sometimes unavoidable. For this reason, whether you reside in a house, apartment, or villa, we strongly recommend that invest in a property insurance policy.
Here are some key benefits:
1- An All-Risk Property Insurance policy:
This policy is the most comprehensive, covering all risks of physical loss, destruction or damage to the insured property which occur during the policy’s period. It is usually subject to certain terms, conditions and exclusions that can be tailored according to the profession of the clients and their requirements
2- Home Building Insurance:
This coverage only includes the physical structure of your home, covering the construction should any damage occur, without covering the contents inside.
3- Home Contents Insurance:
Unlike building insurance, content insurance encompasses the loss or damage of your personal belongings such as furniture, electronics, jewelry, etc. wherein repairs or replacement following damage from fire, flooding, theft, vandalism or water leakage can be claimed.
Here are some tips from Diyar on choosing the suitable insurance policy:
Before choosing any insurance policy, make sure to thoroughly review your package to better understand the extent to which you will be covered before finalizing your decision.
A good policy would include:
· Contents of the property and personal belongings
· Repairs to the villa as required due to unforeseen circumstances such as weathering, wear and tear, and thermal related damages.
· Full replacement of the cost of the property in case of total loss.
· The provision of alternative accommodation should the property be completely lost
· Coverage of all insurable improvements or modifications (including additional rooms, equipment etc.) made by the homeowner after handover.
· Collateral damages to other properties or common areas in case of accidents and/or third-party liability.
· Coverage against damages, directly or indirectly attributed to any mechanical, civil or electrical failure within the property.
· Coverage against any collateral damage resulting from failure of waterproofing.
Here’s what you should keep in mind when it comes to Diyar Al Muharraq’s Technical Interface Office.
Any contractor engaged by a homeowner for any building works or modifications must be adequately licensed and insured, and must comply with all regulations applicable in the Kingdom of Bahrain.
In the event of partial or total damage to or destruction of a property and/or its contents, homeowners should liaise with their insurers to proceed to repair or to reconstruct the property in a manner consistent with the original construction. Any modifications from the original design must be approved by the Diyar TIO, as well as the relevant municipal authorities.