Is home insurance needed more in the UAE?

Recent fire accidents in Dubai have highlighted the issue of home insurances in the Emirates.

Sunday’s massive fire that broke out at the Tamweel tower in Jumeirah Lake Towers in Dubai has shown that crime levels might not be the only motivation behind home contents insurances.

While no one died because of the fire, hundreds of residents lost most of their valuable contents due to the large extent of damage, and tenants are beginning to realize the importance of insurance.

“Two lessons learned last night after watching the tower opposite ours go up in flames, 1 – buy a parachute to keep on balcony, 2 – get contents insurance!!! Take note fellow dubizzlers!!!” Natalie Mulvihill, an expat living in JLT wrote on her Facebook page.

The Tamweel blaze comes only few weeks after another fire damaged nine apartments at a building in the Tecom district also in Dubai.

“Having bought my apartment and having building insurance being compulsory for my mortgage, I chose contents insurance, but now I realize that this should be the best choice anyway,” Suzanne Locke, the owner of an apartment at The Greens district, told Yahoo! Maktoob.

“People here don’t care about contents insurance because they believe it is safe but actually the risk of fire or even flooding is high,” she added.