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Hey,

I own a villa in Dubai, and is rented out. I want to purchase property insurance for my villa.

1. Does the insurance covers the current market value of the villa or the current re-building cost of the villa? (Have called all major insurers, and every time I get a different answer. Emailed them twice and no reply, hence nothing in writing).

2. Any recommendations on which insurer to choose? (Please PM)

Thanks
Debbie
 

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I don't know the specifics for UAE policies, but most other places it covers only the rebuilding cost (apart from limited time alternate accommodation etc).

I just quickly checked the website of AIG, and looks like it is rebuilding costs - look at the policy wording: https://www.aig.ae/building-insurance_3739_479294.html
Sum Insured: The sum(s) insured must at all times represent the full cost of rebuilding to the same specification including demolition costs and architects and surveyors fees.
 
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