Your guide to a smooth property damage claim process
Experiencing property damage can be a challenging and stressful situation. Therefore, it is important to understand the property damage claim process to ensure a smooth and fair resolution. Unsure where to begin? Our blog offers key insights to help you protect your investment.
WHAT IS A PROPERTY DAMAGE CLAIM?
A property damage claim is evidence or a report you submit to an insurance company when your insured property is damaged. This damage can result from various incidents such as accidents, theft, natural disasters or any other unforeseen events.
The process allows a claimant to file for reimbursement of the financial loss incurred due to the damage.
TYPES OF PROPERTY DAMAGES
Before we proceed to the damage claim process for a property in Dubai, here are the types of property damages you must be aware of:
- Fire or arson
- Theft
- Water leaks
- Tornados or hurricanes
- Earthquakes
- Lightening
- Vandalism or trespassing
- Damaged roofs or faulty structures
- Termites or mildew
- Appliances malfunctions
- Sinkhole
PROPERTY DAMAGE CLAIM PROCEDURE
The property damage claim process in Dubai may differ from one insurance company to another. However, here are the steps to file a property damage claim in Dubai:
STEP 1: REPORT THE INCIDENT
The first step for a property damage claim in Dubai is to report the damage to your home or its contents. You will also need to bring in the required documents.
STEP 2: DOCUMENT THE DAMAGE
Ensure all damage is recorded within the claim timeframe. Collect necessary evidence, including photos or videos, to support your claim. This is especially important for cases requiring physical assessment. As per Dubai’s Jointly Owned Property Law, facility management companies may sometimes be responsible, so their documentation might be required.
STEP 3: SUBMIT THE REQUIRED DOCUMENTS
Prepare and submit the required documents for property damage claims in UAE, including:
- Policy number
- Policy report (if applicable)
- Time, date and location of the incident
- Description of what happened
- Estimated value of loss
- Claim form (your insurance company will issue this)
Please note that depending on the nature of the loss, insurance companies in Dubai might ask you for further documents.
STEP 4: ASSESSMENT AND INSPECTION
Depending on the severity of the damage, the insurance company may assign a Loss Adjuster or conduct a survey through its Engineering Services Department. This evaluation ensures proper validation of the claim and a fair compensation estimate.
STEP 5: CLAIM PROCESSING
Once your claim is filed, the insurer will provide a reference number for tracking. Depending on the policy, you will receive an SMS with this number and details of nearby repair services within days. The processing time may vary, particularly if a third party has filed a claim due to injuries on your property.
STEP 6: RECEIVE COMPENSATION
The insurer will specify a timeframe to pay the compensation, but it depends on claim verification, document review and inspection. Once approved, the payout will be processed according to your policy terms.
FAQS ABOUT PROPERTY DAMAGE CLAIM
WHAT TYPE OF PROPERTIES CAN BE INSURED?
Things of value can be insured, whether a residential property or a vehicle.
HOW DOES PROPERTY INSURANCE COVERAGE WORK?
Generally, there are three types of property insurance coverage: replacement cost, actual cash value and extended replacement costs. You can add any of these to your insurance policy.
- Replacement costs cover repairing or replacing a property at the same or equal value.
- Actual cash value pays the renter or homeowner the replacement cost, excluding depreciation. For instance, if the destroyed property is 10 years old, you’ll be reimbursed for the value of a 10-year-old property, not a new one.
- Extended replacement cost pays more than the coverage limit if construction costs have increased.
WHICH ARE THE TOP INSURANCE COMPANIES IN ABU DHABI?
The top insurance companies in Abu Dhabi include AXA, FMC Network UAE and Metlife.
CAN I RECEIVE FULL SECURITY DEPOSIT FROM MY LANDLORD IN DUBAI?
Yes, you can. The Dubai Rental Law entitles tenants to receive a full security deposit from the landlord when switching homes. However, it’s advised to read your tenancy contract carefully and get a check-in and check-out report to avoid disputes.
And on that note, we wrap our guide. Please note that it’s essential to understand your insurance policy’s coverage limits, deductibles and exclusions before filing a property damage claim. So, be sure to contact your insurance company before filing for damage.
Want to get your property insured? Here’s a brief overview of how to select the right home insurance for tenants in Dubai.
If you’re new in Dubai, here’s a comprehensive checklist for home maintenance to keep your property in top-notch condition.
