Qatar Islamic Insurance Company (QIIC) was founded in 1995 and is based on the cooperative principle. It is the first insurance company in Qatar that offers insurance products and services online.
With a track record of innovation in products, services, and systems, the company has maintained a leadership position in the industry. For faster and easier service, QIIC introduced Self-Service Insurance machines (KIOSKS), and a mobile application. Since 2015, QIIC has offered online and mobile services for accident claim registration to the public.
Contents
Pros & Cons
Pros
Provides quality service
Offer a quick and easy way to buy insurance
Flexible payment options
Coverage for all types of risks
Cons
Some insurance policies may be costly
Available Products (Insurance)
In Qatar, the company (QIIC) offers comprehensive and tailored insurance coverage to both individuals and businesses. QIIC offers both individual and group insurance products and services.
The company provides health insurance, car insurance, travel insurance, home insurance, marine insurance, business interruption insurance, and engineering insurance.
Here’s a brief overview of the different types of insurance provided by QIIC:
Motor Insurance
Generally, the company offers three types of car insurance: Motor Compulsory Insurance, Comprehensive Insurance, and Road Travelers Orange Card. Every type of insurance caters to the particular needs and requirements of the insured party.
Compulsory Insurance (Third-Party Liability): Compulsory Insurance is designed to protect you against damages caused to third parties. This type of insurance is compulsory in Qatar, and it covers damage or loss that you may cause to someone else’s property.
Comprehensive Car Insurance: This type of insurance covers any damages to your car regardless of who is at fault. This type of insurance usually has a higher premium but offers more comprehensive coverage. If you have this insurance, it covers both the damage to your own vehicle and the third-party vehicle, as well as any medical expenses arising from the accident.
Road Travelers Orange Card: This card protects you against in the event of injuries or property damage in road accidents.
Travel Insurance
Travel is exciting whether you go on a quick trip to Paris, spend some time in the Caribbean, or go on an African safari. With international or overseas travel insurance, you can travel with peace of mind, especially in case you become ill or injured during your trip, or should any unexpected circumstances force you to cancel the trip.
Qatar Islamic Insurance Company offers travel insurance for individuals and businesses. Travel insurance can provide peace of mind while traveling, whether it is for a leisurely trip or a business venture. QIIC’s travel insurance policies offer comprehensive protection against a variety of risks, including trip cancellation/interruption, loss of baggage and personal effects, medical expenses, and more.
Marine Insurance
Marine insurance is similar to other types of insurance in that it protects you from damage or loss to something valuable. This type of insurance is primarily for ships, boats, and cargo transported on them. It is most crucial for businesses that engage in international trade, especially those that ship large quantities of goods by boat or aircraft.
There are four types of Marine Insurance offered by Qatar Islamic Insurance Company:
Marine Cargo Insurance: Cargo insurance protects cargo owners against the loss or damage of goods during transport. In addition, the policy will protect the shipper against financial losses from delayed delivery or non-delivery of a shipment.
Marine Hull Insurance: Hull Insurance covers the cargo-transporting vessels and machinery. Vessels may include ships, boats, yachts, motor tankers, etc. Additionally, it covers damage to the vessel and/or its machinery.
Freight and Shipping Insurance: Freight and shipping insurance protects your goods while in transit. This type of coverage is available for both domestic and international shipments. Additionally, it can provide protection from risks such as perils of the sea, collisions, theft, fire, and natural disasters.
Small Crafts Insurance: This policy protects small boats and watercraft including outboard engines, personal watercraft, sailboats, etc. The same perils that may affect a larger craft may damage a smaller one. The Small Craft policy may only pay out a certain amount in the event of certain losses.
Fire Insurance
Fire is one of the most devastating things that can happen to a property, and it can often result in costly repairs or even a total loss. That’s why it’s important to have a good fire insurance policy in place.
QIIC Fire Insurance is designed to protect your property against all types of fire damage, including:
Home Content’s Comprehensive Insurance: This policy protects the structure of your home, together with all the contents inside it. It covers private residential properties, as well as damage caused by third parties, and natural disasters like fire, earthquakes, floods, explosions, etc. This policy provides reimbursement for one or more of the covered perils.
Property All Risk: This policy covers all risks to the insured property, including loss of, or damage to, your property caused by fire.
Business Interruption Insurance: This policy covers the loss of income that you may suffer if your business is forced to close due to a fire.
Consequential Loss Insurance: This policy covers damage to your business caused by a fire at neighboring premises, such as the loss of stock or damage to property. Businesses and property owners choose this type of insurance as a safety net against the risk of injury or damage to their equipment and property.
QIIC Fire Insurance is the perfect policy for businesses and homeowners who want protection against all types of fire damage.
Life Insurance
QIIC offers life insurance plans for individuals and families. An individual life insurance plan is ideal for people who want to protect themselves and their dependents in case of an unfortunate accident.
While a Family Life Insurance plan is ideal for those who want to protect themselves and their families. This is a perfect choice if you need protection and assurance about the future of your loved ones.
The AMAN (Life) plan offers the following benefits:
- Death Benefit: If the policyholder (insured) dies due to natural causes or accidents, will be compensated to his or her heirs and beneficiaries.
- Permanent Total Disability Benefits: If the policyholder becomes permanently disabled due to an accident or illness, they will be compensated.
If you want to know more about Life Insurance, you can click the following link to visit the company’s website:
Link: https://www.qiic.com.qa/products/life-insurance/#
Engineering Insurance
QIIC Engineering Insurance provides cover for the losses and liabilities that may result from a loss or damage caused due to faulty design, calculation, workmanship, and building components. This is an important service since Qatar has seen a huge development in recent times as it is the country with the highest per capita income in the world.
QIIC Engineering Insurance offers the following benefits:
Constructors Plant / Machinery Insurance: This type of insurance covers machinery and plants used by construction companies. It also covers the tools, equipment, and materials for a fixed period against physical damage due to fire, lightning, explosion, etc.
Machinery Breakdown Insurance: This type of insurance is similar to the constructor’s plant insurance, but it only covers the machine.
Erections All Risk Insurance: This insurance policy covers damages that could result from the installation and erection of machinery, steel structures, as well as any damage to contract works and machinery. It also covers third-party injuries or property damage resulting from these operations.
QIIC provides a wide range of products including health insurance, car insurance, travel insurance, home insurance, marine insurance, business interruption insurance, and engineering insurance.
The company is headquartered in Doha, Qatar. QIIC offers Sharia-compliant insurance products and services. It has a network of branches in Qatar, Saudi Arabia, Bahrain, Oman, Jordan, Kuwait, and Malaysia.
General Insurance
QIIC provides general insurance to protect its customers from possible financial losses. QIIC offers a wide range of general insurance products that cater to the needs of individuals and businesses in Qatar. Their products include fire, burglary, property damage, liability, and car insurance.
Here are some of the benefits that QIIC General Insurance offers:
Burglary Insurance: Burglary insurance protects your home or office from theft. It protects you against theft and property damage as a result of forced entry to, or a violent exit from the premises. In case of a burglary, the policy will reimburse you, and it may also cover thefts outside the premises.
Office Multicover Insurance: It protects the everyday operational assets of your business. If you want to protect your office from any potential threats, this insurance is essential.
Plate Glass Insurance: Plate glass insurance covers the cost of repairing or replacing your plate glass windows if they are damaged or stolen.
Accidents Insurance: It provides compensation for accidental injury or death and ensures the safety of you and your family.
Personal Accident Cover: It covers you or your partner if you are injured or are involved in a car accident. Unlike life, medical, and health insurance, personal accident insurance covers anyone in your household who has been injured or killed in an accident.
Liability Insurance
It is also known as business liability insurance, this insurance is designed to protect business owners from any legal liability that may arise from their operations. For example, if a customer is injured while on your property, this type of insurance would cover the costs associated with any resulting lawsuit.
Here are a few benefits of Liability Insurance coverage from QIIC:
Professional Indemnity Insurance: It protects your business from any financial losses that may arise as a result of service you may have provided.
Workmen Compensation Insurance: It is also known as employer’s liability insurance. This policy covers salary replacement for employees and medical coverage for workers injured while employed by your company.
Product Liability Insurance: This insurance protects your business against any claims of damage or injury resulting from products you have produced or sold.
Directors & Officers Liability Insurance: It protects your business from financial losses if a client files a claim due to damages caused by your service.
Medical Malpractice / Liability Insurance: This type of insurance provides protection against any medical damages that arise from malpractice or negligence.
Energy Insurance
The Company is committed to establishing an Energy Insurance Department dedicated to the energy industry. It will provide insurance coverage for damage or loss of property, equipment, and losses from acts of terrorism on power plants, gas pipelines, oil facilities, and other energy infrastructures.
Electronics & Computer Insurance
The Company offers different types of insurance to protect your computer and electronic equipment from accidents, breakdowns, and crime. Make sure you are fully protected by choosing the right policy for your needs.
Under QIIC Electronics and Computer Insurance, the following policies are covered:
Computer’s Risks Insurance: This insurance covers the risk of a breakdown or internal damage to your computer. This policy covers risks of damage, loss, or destruction resulting from accidental incidents, such as electrical or mechanical breakdowns.
Computer’s Crime Insurance: It covers the crimes committed through the use of computers or laptops by company employees. Specifically, it covers the losses caused directly by the use of a computer or electronic device.
Cyber Crime Insurance: Cyber-crime insurance is also crucial in today’s evolving technological landscape, as new risks arise each day. This insurance protects your business against financial losses resulting from a cyber-attack, such as data theft or ransomware.
Balsam Medical Insurance
Balsam is a medical insurance plan offered by QIIC that provides coverage for hospital stays, outpatient procedures, and other related healthcare expenses. It can help protect policyholders from catastrophic medical costs resulting from serious or chronic illnesses, injuries, or pregnancy.
QIIC provides the following types of medical insurance coverage:
- Four plans to suit every need
- Balsam Inpatient
- Balsam
- Balsam Gold
- Balsam Silver
- Up to the age of 65 years, continuous coverage.
- Freedom to choose any medical facility from the doctor you want.
- Personalized membership card.
- Personal and attentive customer service.
- Fast claim settlement on medical services of your choice.
- Medical coverage for your entire family or group.
- Affordable insurance premiums in exchange for great coverage and services.
- Assistance with medical needs while traveling abroad for business or pleasure.
You can have peace of mind with a comprehensive medical insurance policy like Balsam, knowing that you and your family are protected in case of serious illness.
Money-Bankers Insurance
Money-Bankers Insurance policy is designed specifically to protect banks and financial institutions against financial losses arising from everyday operations. Money-Bankers insurance covers any financial losses as a direct result of the failure of your bank.
The following types of Money-Bankers insurance coverage are offered by the company:
Cash in Safe Insurance: This policy cover money or monetary assets held within a teller safe, office, or depositing place against damages caused by theft or robbery.
Cash in Transit Insurance: This policy covers you if your cash or consignment is lost, damaged, stolen, or misplaced during transit.
Fidelity Guarantee: This policy covers the loss of money or property that the insured sustains due to employee theft, fraud, or dishonesty.
Banker’s Blanket Bond: It protects a bank against various losses caused by criminal acts perpetrated by its employees.
So, these are the different types of insurance (products) that the company provides to its customers. QIIC also offers discounts to its customers, but these are only applicable to certain conditions, so please check the full details on the QIIC website before applying any discounts.
Family Packages
Unlike most insurance companies, QIIC offers family packages that give your family all-inclusive coverage that doesn’t require you to pay a lot for each insurance section alone.
QIIC Family Package protects your family from every aspect in a single economic package. This includes:
- Car Insurance
- Travel Insurance
- Home Insurance
- Family Members Insurance
The family packages cost 2121 QR for small families, 3000 QR for medium families, and 4121 QR for large families, plus 2% of the vehicle’s cost.
The QIIC Claims Process
Qatar Islamic Insurance Company offers several ways for its customers to file a claim. One of the most common ways is to use the company’s website. You can also make a claim through their Whatsapp no. 44658899.
If you want to file a claim, you will need certain details depending on the type of insurance you have. You should visit the company’s website to find out exactly what documents you need.
FAQs
How To Contact QIIC?
You can contact Qatar Islamic Insurance Company by clicking on the following:
Link: https://www.qiic.com.qa/contact-us/
Why Choose QIIC Car Insurance?
There are many reasons to choose Qatar Islamic Insurance Company car insurance. Car insurance is one way to stay safe and avoid unnecessary expenses. The company is based in the United Arab Emirates and it offers international drivers very competitive rates on its car insurance policies.
Firstly, QIIC, As a leading insurance company, provides you with a wide range of different car insurance rates that meet your needs. QIIC offers car insurance online with better coverage options so you can choose the best policy for you.
Secondly, the company has a team of highly qualified insurance experts who will help you choose the best car insurance plan. QIIC car insurance provides you with peace of mind when there are bodily injuries because it protects you from hefty fines and medical expenses.
Lastly, The company has an impressive record of performance with more than 60 years of experience, so buying insurance from QIIC is a good choice.
Can I Cancel My Motor Insurance Policy?
Yes, you can cancel your motor insurance policy. In case you have not yet claimed, you will get the Premium Refund.
What Are The Typical Factors Used In Calculating Your Car Insurance Premium?
Car insurance premiums are calculated as a percentage of the value of your car. If your vehicle has been in an accident, this would be factored into the premium. If your car has never had any accidents, you will get a no-claims discount when renewing your policy.