In a country where car insurance is mandatory, it's incredible to learn that only 5 to 10 per cent of the UAE's population have bothered to take out home contents insurance. I guess that's because many people think that the country's relatively low crime rate and lack of rain negate the need - and expense - of protecting their belongings. But the recent spate of apartment block fires in Sharjah - and today's fire in a tower of flats in Dubai Marina - prove just how important it is to have home contents insurance. Not only does it mean you can replace your belongings, but having an insurance policy will also cover the high cost of putting you up in emergency accommodation, saving you from possible financial ruin as you try to search for a new home and scrape together another year of rent. According to insurance experts, you can take out home contents insurance in the UAE for as little as Dh250 a year. This covers you against fire, flood, storms and theft - not to mention that all important emergency accommodation if your home has been left uninhabitable. "When you think about it, it's ridiculous not to get insurane because cover for our products starts at less than Dh1 a day - that's one less coffee a month to pay your insurance premium," says Alexis de Beauregard, the chief officer ofmarketing and retail product offering for AXA Insurance in the Gulf region. That's not very much for peace of mind - and the perservation of your hard-earned money. For the full story by Alice Haine, check out the Money section in The National tomorrow, or go to http://www.thenational.ae/lifestyle/personal-finance