Property Insurance

Listed under this line of insurance is a number of policies designed to provide the maximum possible insurance protection for the insured's property in the event of sudden accidental loss and/or physical damage resulting from a risk insured against.

Properties define as:

• Buildings of various purposes whether used for residential, commercial or industrial activities.
• Contents of: Warehouses, Industrial Units, Residential apartments or houses or any other contents owned by, or entrusted to, the insured for control and custody.

Types of policies

1. Fire Insurance Policy

This policy covers Insured property (buildings and Contents) against loss or damage caused by:

• Fire and/or lightning.
• Additional Coverage :- compensation for loss or damage resulting from the following risks:

• Explosion
• Impact of collision of vehicles of others.
• Falling aircraft and/or other objects from the sky, and/or relevant debris.
• Riots, strikes and malicious damage
• Loose automatic water sprinklers
• Storms, cyclones, floods and/or water damage.
• Loss of profit and fixed expenses (collateral loss extension).
• Legal liability toward neighbors and landlords.
• Loss of Rent.

2 . Household Protection Policy

This policy is tailored to provide extended insurance coverage to the insured residence (Owned or rented, a house or an apartment) against wide range of risks as listed:

• Fire and Lightning
• Explosion of gas cylinders and pipes or boilers used for domestic purposes.
• Falling aircraft and/or other objects from the sky and/or relevant debris.
• Sandstorms, hurricanes and flash floods.
• Bursting of fresh water pipes and/or overflowing of water tanks.
• Crash of vehicle not belonging to or under the custody or possession of the insured or any of their family members or those residing with the insured.
• Breakage of glass or mirror fixed in the house, tubs, sinks, antennas and TV receivers, not exceeding KD.20/- per incident.
• Theft and armed robbery, break in, forced entry to property by breaking and entering, climbing or drilling.
• Loss of Rent: The Company will indemnify the insured for the cost of rent or hotel cost as long as it is within the rent allowance for similar residence in case of fire accident.
• Death or total disability: The Company will indemnify the insured or the beneficiary an amount equal to double the sum insured for the contents or K.D. 10,000/- whichever is lesser.
• Third Party Liability towards the landlord: The Company will indemnify the insured for the court ruling against them as a result of their responsibility towards the landlord for any loss or damage occurring during the period of insurance.
• Third Party Liability: The Company will indemnify the insured for any court ruling against them as result of their responsibility towards third parties for the accidents occurring during the period of insurance, which have resulted in death or injury or property damage.

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