Only 11% of UAE residents have home contents insurance, survey says

A quarter of consumers believe coverage is too expensive, despite average policies costing Dh220 a year. 

While having insurance to protect your personal belongings is standard in many countries around the world, just over one in ten UAE residents have a home contents policy in place, a new survey has found.

According to the price comparison website, yallacompare.com, only 11 per cent of UAE consumers are subscribed to a policy. This is far lower than developed markets, such as the UK, which global insurer Zurich says has a penetration rate of 75 per cent.