• RAKBANK Home Insurance

    RAKBANK Home Insurance

    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
    Three Bedroom 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:

    RAKBANK Credit Cards

    RAKBANK Car Insurance

    RAKBANK Travel Insurance

    RAKBANK Life Insurance

    RAKBANK Health Insurance

    Frequently Asked Questions - FAQs

    1. What is the difference between Home Comfort and Home Content insurance?

    2. 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.

    3. Can I avail Home Comfort insurance if I stay in a rented apartment?

    4. Yes. This insurance can be availed for rented as well as owned houses.

    5. What are the different payment modes available for paying insurance premium for RAKBANK home insurance?

    6. Insurance premium can be paid either through credit cards or via direct debit to RAKBANK account.

    7. What are the additional covers available with these home insurance products from RAKBANK?

    8. Additional liability cover for tenants and public liability covers are available with these home insurance policies.

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