RAKBANK Home Insurance Coverage
|Benefits||Limit of Liability|
|Studio Apartment||25,000 to 200,000|
|One Bedroom||50,000 to 200,000|
|Two Bedroom||100,000 to 200,000|
|Reimbursement for cost of emergency appliances||AED 5,000 per year|
|Alternate temporary residence||AED 250 for 10 days|
|Public Liability||Up to AED 1 Million|
|Tenant’s Liability||Up to AED 1,00,000 per occurrence|
RAKBANK Home Content Insurance Coverage
|Benefits||Limit of Liability|
|Contents in the open||Up to 20% of sum assured|
|Theft of keys||Up to AED 1,000|
|Spoilage of food in freezer||Up to AED 2,500|
|Loss of rent or cost of alternate accommodation||20% of sum assured|
|Fatal injury benefits||AED 50,000|
|Tenant’s liability||AED 1,00,000|
|Money and credit cards||Up to AED 2,500|
|Important Documents||Up to AED 3,000|
|Death or disability of domestic helper||AED 30,000|
|Medical expenses for domestic helper||AED 10,000|
|Repatriation expenses for domestic helper||AED 5,000|
Introduction to RAKBANK Home Insurance in UAE
RAKBANK offers different types of insurance products to its customers. The bank specializes both in general as well as Sharia compliant Islamic banking solutions. There are two major types of home insurance products that RAKBANK offers.
- Home Content Insurance
- Home Comfort Insurance
Home Content Insurance:
As the name itself suggests, home content insurance is aimed at providing coverage for articles and other valuables that are inside the house.
Features and benefits of RAKBANK Home Content Insurance
Following are some of the highlighting features and benefits that make RAKBANK Home Content insurance a favourable insurance product for customers.
- Insurance for contents of the house namely appliances, jewellery as well as other valuables
- Worldwide coverage for valuables when carried by customers for a maximum of 90 days
- Contents in kitchen, stores, bathrooms are covered
- All household items like electronic appliances, jewellery and other valuables are covered against calamities like flood, fire, storm, malicious damage, riots, strikes, burglary etc.
- All important documents are covered against theft and calamities
- Alternate temporary stay is covered under this insurance scheme
- Additional covers can be availed for public liability and tenant’s liability
Home Comfort Insurance:
Home Comfort insurance from RAKBANK is meant for customers who are looking to insure their house as well as the contents inside it.
Features and benefits of RAKBANK Home Comfort Insurance
- Safeguard your home as well as home belongings
- Loss of personal belongings and valuables are covered even while you are travelling
- Coverage for domestic helpers for accident insurance
- In case of relocation within UAE, damage to goods is also covered
- Important documents like passport, degrees etc. are also covered against any loss or damage
Eligibility Criteria for RAKBANK Home Insurance
For Home Content Insurance:
- Should be a RAKBANK Customer
- The Premises Insured should be located in UAE
- The Customer(s) should not be living in shared or rented accommodation
For Home Comfort Insurance:
- Should be a UAE Resident
- RAKBANK Customer owning / renting a home
- Property should be in the UAE
Why choose RAKBANK Home Insurance?
Established in the year 1976, RAKBANK is known as the most dynamic and fastest growing banks of the UAE. The bank went a major overhaul in the year 2001 when it shifted its focus from corporate banking to other retail and small business.
This placed the bank as a credible and trusted financial entity among several strata of customers. Over the years RAKBANK has progressed towards the use of new and innovative technology to yield competitive and satisfactory services to the customers. The bank offers a wide range of services through its 34 branches in the UAE. RAKBANK also specializes in Sharia compliant banking solutions and offers Islamic financial products through its Islamic banking unit called the RAKBANK Amal.
With a good network of branches across the UAE, the bank provides products and services in the field of private banking, corporate banking, wealth management, investment banking and so on.
Other products offered by RAKBANK in UAE are:
Frequently Asked Questions - FAQs
What is the difference between Home Comfort and Home Content insurance?
Can I avail Home Comfort insurance if I stay in a rented apartment?
What are the different payment modes available for paying insurance premium for RAKBANK home insurance?
What are the additional covers available with these home insurance products from RAKBANK?
Home Comfort insurance is availed for insurance of both house as well as contents while the Home Content insurance from RAKBANK is just for insurance of house contents.
Yes. This insurance can be availed for rented as well as owned houses.
Insurance premium can be paid either through credit cards or via direct debit to RAKBANK account.
Additional liability cover for tenants and public liability covers are available with these home insurance policies.