Condo Insurance in UAE

What is a Condo?

A condo, or condominium, is a private residence within a larger building or community. 

Here, individual unit ownership is combined with shared ownership of common areas. This separates it from an apartment, which is generally rented, and from detached houses, where the owner is responsible for both the interior and exterior.

 

What is Strata and Condo Insurance?

Condo insurance in the UAE often falls under a broader category known as Strata Insurance. 

Strata insurance aligns with the UAE's Jointly Owned Property Law. It mandates the division of property into privately owned units and jointly owned common areas, managed by an Owners’ Association. It covers common areas and shared property. 

However, if you’re looking to specifically cover the contents within your condo, individual coverage is necessary.

 

 

Is Condo insurance Available in the UAE?

Condo insurance is available in the UAE.  To protect various aspects of condominium living, the coverage is twofold. 

Firstly, the exterior and common areas of a condominium including amenities like pools, gyms, lobbies, and landscaping are safeguarded under Strata Insurance. 

This type of insurance is managed by the homeowners' association (HOA). It collects fees from all condo owners to provide condo insurance coverage associated with these common spaces.

For the protection of personal belongings within the condo unit, such as furniture, electronics, and other valuable items, you have the option to purchase your own individual contents insurance. This condo insurance coverage protects the assets inside your condo against theft, damage, and other risks.

 

Read: How to Choose the Best Home Insurance in UAE

 

How to Get Coverage for Condo Contents?

For the protection of your personal belongings inside your condo like your furniture, electronics, and personal items, you will need individual content coverage. This is where platforms like Policybazaar UAE come into play. 

Policybazaar.ae is an online platform that brings you a range of insurance and financial products in the UAE. Besides comprehensive insurance plans, it also offers expert guidance, quick customer support, and an easy-to-use interface, all of which make it a preferred choice for those seeking the best condo insurance.

To obtain a condo insurance quote and get the best condo insurance for your needs, simply follow these steps: 

• Visit the official website of Policybazaar UAE.
• Go to the home insurance section.
• Fill out the lead form with your details.
• An expert from Policybazaar.ae will contact you to assist with the process. 
• Or you can directly click on the button below

Get a Call from EXPERT Now

 

You can compare various plans and choose the one that suits your requirements best.

 

 

Final Insights

Condos in UAE offer stylish living spaces with shared amenities. 

With respect to insurance, there are two essential types for condo owners: Strata Insurance, which covers common areas, and individual content cover, which protects the contents inside your unit. 

Getting condo insurance coverage for individual contents is important as it safeguards your personal belongings against potential risks. 

Remember, protecting your home is about covering all bases inside and out. Make your condo a safe and serene place to live, not just a stylish one!