What is Home Contents insurance?

1
WHAT IS HOME CONTENTS INSURANCE?
2
Home Contents insurance pays for the cost of
repairing or replacing your personal belongings
and furnishings in your homes, such as curtains,
furniture, white goods, stereo, TV, computers and
other electrical appliances, clothing, jewelry,
sporting equipment, and even toys. Home contents
insurance covers household items owned by you and
family members living with you.
OVERVIEW
2
3
TYPES OF HOME CONTENTS INSURANCE
Replacement Value
New For Old
Most policies provide customers with new-for-old
coverage. This means you are covered for the full
cost of replacing lost or damaged possessions
with newer, higher-valued possessions. You should
expect to pay a higher premium for new-for-old
coverage.
A replacement value insurance coverage only
covers the value of your belongings, and most
items degrade in value each year. This is why
it's important to evaluate your policy on a
regular basis and make sure your coverage is
current.
3
4
WHAT ARE YOU PROTECTED AGAINST?
Home content insurance in Dubai allows you to
select different levels of coverage. A defined
events policy, which typically only covers your
belongings if they are lost due to defined events
such as fire or burglary, is the least expensive
option that provides the bare minimum of
coverage. Policies that include accidental
damage will protect you against the cost of
incidents such as accidental breakage or even a
stain on a lounge or carpet for a much broader
level of coverage.
4
5
HOW ARE PREMIUMS CALCULATED?

• The premium for contents insurance is determined
  by the likelihood of a future claim being made on
  your policy. When calculating your premium, your
  insurer may consider a variety of factors,
  including
• The basic excess amount that you select
• The age of the person purchasing the policy, as
  well as the other people covered by the policy
• The sum insured for your contents (your sum
  insured)
• The level of protection you've chosen
• How your house is occupied
• Your home's location and how you use it (for
  example, whether you are operating a home-based
  business)

5
6
CONCLUSION
If you are underinsured and suffer a partial
loss, your insurer may use averaging techniques
when processing your claim. This means that the
insurer will examine the contents of the
property, calculate the level of underinsurance,
and reduce the settlement amount proportionally.
Contents insurance is appropriate for both
homeowners and renters. It can be purchased as a
standalone product or in conjunction with home
insurance as a home contents policy.
6
7
THANK U
FOR LISTENING
For More information visit our website
https//www.omaninsurance.ae/