Only 10% of homes might get compulsory insurance
Insurers are pessimistic and estimate only 10% of homes might conclude compulsory insurance policies until the end of the year, although homeowners have until mid January to seal such a contract or be penalised.
"It would be good to exceed 10% over the next six months, i.e.
800,000- 1,000,000 mandatory insured homes," said Marius Bulugea,
chairman of the Insurance Pool against Hazard (PAID), at the launch
event of mandatory home insurance yesterday, which also saw the
first policies being signed. They cover three risks: earthquake,
landslides, and floods. PAID is the company that will issue these
policies.
"There have been talks on the risk of flooding: if you live in a
block of apartments and your upstairs neighbour floods you, are you
protected by the mandatory policy? The answer is 'no'. The
mandatory policy only covers natural disasters. I hope the
population will understand this is not a tax, it is social
insurance, designed to provide minimal support in case of
disaster," says Angela Toncescu, chairperson of the Insurance
Supervisory Commission.
What should homeowners who already have a non-compulsory insurance
policy do? Seal a compulsory policy within 5 days from the expiry
date of the previous policy.