Every year, it seems as if a new storm front (often with a comical name) batters the UAE, causing worse and worse damage to property and infrastructure. With the worsening of the climate crisis, these storms are predicted to become more frequent and dangerous. It has never been more important to have insurance that covers you properly than it is now. Quite how much is the latest storm season expected to cost the Insurance Industry though?
Damage from Storm Ciara
Experts estimate that Storm Ciara alone might cost the UAE insurance industry as much as (USD $)200m. This is as a result of the significant flooding damage to areas of the country, as well as the damage caused by wind and trees. All of these threats could have caused damage to homes, cars and businesses. With additional storms either already here and yet to be calculated (Storm Dennis) or still on the way, the damage could work out much higher in the end.
Protecting Yourself
How can you make sure that you are properly insured against the dangers of future storms? At Axios Insurance & Reinsurance Solutions DMCC, we offer a range of covers to protect you against all sorts of potential risks. As storms are likely to bring flooding in the future, consider our specialist flood insurance. This is designed for houses that have a history of flooding – or are in flood prone areas.
Our home insurance policies also cover you for the risk of flooding, even if you do not live an area which often floods. This gives you the peace of mind that even if there is unexpected storm damage, you will be covered. When you take out an insurance policy, you need to feel confident in what you are covered for. At AIB, we make sure that we explain to you exactly what your policy covers.