Property Insurance

We provide comprehensive property insurance solutions to safeguard your most valuable assets against unforeseen risks. Whether it's your home, office, industrial facility, or commercial property, our policies are tailored to protect against sudden and accidental damages caused by fire, theft, natural disasters, and other perils.

We understand that property can be one of the most valuable business assets so our insurance policies cover large and small facilities. With AlKoot, you can ensure financial security and minimize disruptions when unforeseen risk occurs.

Our coverage includes:

● Protection for buildings, contents, and valuable assets

● Coverage for fire, storm, tempest and flood, theft, and natural disasters

● Flexible options tailored to residential, commercial, and industrial needs

● Swift claims processing and reliable support

The main property policies offered 

1. Fire and Allied Perils Insurance: This policy covers loss or damage to the property insured caused by:

a) Fire, lightning or domestic explosion

b) Storms, tempests or floods

c) Bursting of pipes/water tanks

d) Earthquake

e) Objects falling from aircraft/ariel devices

f) Strike, riot or civil commotion

g) Impact damage by vehicles

h) Subsidence and landslide

2. Property All Risks Insurance: This policy provides coverage on an all-risk basis other than those specifically excluded under the Policy. London Market 7 (LM7) is widely used.

3. Business Interruption Insurance: Protect your business from unforeseen disruptions with AlKoot's Business Interruption Insurance. This policy ensures your financial stability by covering the loss of income and additional operating expenses incurred during periods of business disruption followed by insured material damage events such as fire, natural disasters, or other insured perils.

What We Cover:

● Loss of Revenue: Compensates for income lost due to a temporary closure.

● Operating Expenses: Covers fixed costs, such as rent and salaries, during downtime.

● Relocation Costs: Assists with expenses related to temporary relocation.

● Recovery Assistance: Provides support for business restoration post-incident.

This policy should co-exist with your Property All Risk Insurance and cannot be taken on separately.

General Exclusions under Property Insurance:

● Loss or damage caused by war, nuclear risk, or radioactive contamination.

● Deterioration of stock

● Loss or damage to any electrical/electronic machines by overrunning, excessive pressure, short-circuiting, or self-heating

● Machinery breakdown

● Property in the course of construction

● Destruction of property by order of Public Authority