Home contents insurance can prevent huge financial losses for you due to unexpected events. NLG offers a comprehensive package against damage or loss caused by man-made and natural disasters. You can also expect insurance against storms, typhoons, tempests, and floods. Expenses for shifting to temporary locations, lock replacements, fire brigade, and extinguishing costs are also provided within the policy.
The purchase procedure is online and simple. However, to choose the best policy you need to understand some basic terms in a policy document. It will also prevent surprises in the future.
Actual Value at Risk
It is the actual value of all the personal belongings in your house. This is calculated based on:
- New replacement value in regards to home appliances and equipment not older than 5 years
- The depreciated value of items like furniture, kitchen utensils, etc.
- Money in various forms owned by you and your spouse, not exceeding a value of RO 250
- The actual purchase value of your jewellery
This refers to appliances, furnishings, bedroom linen, and similar property of your family.
The amount required to be paid by you in the event of a claim under this policy.
Occurrence of a Standard Peril event which causes damage to your contents and family members present at the premises declared in the schedule.
Maximum Sum Insured
This is an estimate of the sum of all contents that belong to your or your family. The policyholder has to select one of the slabs for which the cover under this scheme can be obtained.
Standard and STF Perils
Fire, strike, riots, persons with a malicious intent of property damage, impact by road vehicles, and explosion are standard perils. Hail, tornado, snow, storm, cyclone, hurricane, and earthquake are STF perils.
This includes the schedule attached to this policy. It will contain the name and address of the insured, residence location, insurance period, and the maximum sum insured.
Know what you are covered against by understanding these terms and make an informed decision.