apartment insurance

[tracey122]

I recently bought an apartment in Dubai which I rent out on long term let. The pool and shared areas are covered by the maint charge I pay each year insurance wise but I take it I will need to insure the actual property itself in regards to its bricks and motar.

I looked into this while I was buying it and there did not seem to be many insurance companies around but I have come across some here in the UK that will insure overseas property which would be great as it maikes it harder getting it from a company in Dubai.

Does anyone have any advice or experience in getting their property insured and if you do who do you use?

 

[Wannaberich]

Your maint charge includes insurance for the bricks and mortar.

 

[revolutionary]

I agree that it should include the bricks and mortar but since we are dealing with dishonourable developers in control of the maintenance companies and communal budget, should we trust them with something so important?

The other area that may need to be considered is third party liability for something arising from your apartment e.g. water leaks. I still haven't taken out any insurance for my apartment as it should be covered by the maintenance charge but since the developer has not provided details of that policy there is a large amount of uncertainty.

 

[tracey122]

Revolutionary you hit the nail on the head and this is part of why I am asking as I am unsure who covers what when it comes to an apartment especially.

I have had my apartment 6 months now and I have a tenant renting it, I have taken out no insurance for it but according to the management company they have full insurance for the common areas and they have since said also full insurance for 'Common Infrastructure of the building' I have asked for clarification on exactly what this means. I can only assume this means the external/structures of the building.

I am also checking on what my tenant needs insurance wise as I understand they have to cover their contents but it was also mentioned they should have public liabilty, consequential damages and fire liability cover. I'm trying to find out if they have to have this before moving in as part of the tenancy.

So in my eyes on this basis I am covered externally by my management charge by the owner of the building and internally I'm covered by the tenant but as much as you hope nothing happens anyhow sods law it will and it will be something not covered they the tenant or the managment company!