Al Fujairah National Insurance Co. (AFNIC) has announced the launch of its insurance product for vehicles called FloodGuard. It is the first insurance in the UAE to cover flood, storm and windstorm damage. FloodGuard is an independent product and does not replace other types of insurance.
The launch of a separate insurance is due to the fact that not all insurance prdoucts cover flood damage. As for comprehensive insurance, there may be exceptions in it. For example, if a flood is considered a “force majeure event”, no compensation will be paid.
A vehicle can be insured under the FloodGuard if it meets the following conditions:
- Has third party liability (TPL) insurance with any insurance company. However, the FloodGuard insurance will not apply if there is a switch to the comprehensive insurance.
- Is used for personal and leisure purposes. In addition, a vehicle can be private or company-owned.
Commercial vehicles, trucks, pickup trucks, buses, motorcycles, taxi cars and any vehicles used for commercial purposes cannot be insured.
Main FloodGuard features:
- Suitable for cars of any age, including those...