According to the updated research data of the Association of Insurance Companies of Greece
The percentage of insurance coverage of residences of the country amounts to 17%, according to the updated research data of the Association of Insurance Companies of Greece.
The association Insurance Companies of Greece (EAEE) states in its announcement that it conducted a survey among insurance companies, to record the number of home insurance contracts in force on September 30, 2023.
It is recalled that the purpose of the research is to monitor the number of insured homes per quarter in order to be able to monitor the trend and understand the impact of any promotional actions to cover the protection gap through private home insurance. The comparative results of the research will allow in the future to make evidence-based decisions about measures to improve society’s resilience against natural disasters.
According to APE BEE, the EAEE survey collected data on 1,086,037 contracts which were in force on September 30, 2023. Therefore, it follows that the country’s home insurance coverage rate is 17%.
It is noted that the present survey of September 2023 is considered more complete and more accurate than the corresponding one of June 2023, as it separately recorded the contracts that provide fire coverage without weather phenomena and/or earthquake coverage (forest fire is included).
The main findings of the research are as follows:
– Number of housing contracts: 1,086,037
– Country insurance coverage rate: 17.0%
– Of the insured homes:
− Earthquake insured: 794,723 (80.8%)
− Insured for weather events: 651,818 (66.3%)
− With building coverage: 983,361 (90.5%)
− With content only coverage: 102,676 (9.5%)
− Mortgage interest for those with building coverage: 613,471 (62.4%)
– Located in Attica: 504,097 (46.4%).
