Romanian insurers, members of UNSAR, paid compensation worth RON 67 million (EUR 13.47 million) in 2024 for fire damage to homes insured through facultative policies. The figure is almost 3 times higher than in 2021, showing that fire remain among the main threats to homes in Romania.

According to the National Union of Insurance and Reinsurance Companies of Romania (UNSAR), the number of fire-related claims has also risen sharply. While insurers settled 884 fire damage claims in 2021, that number increased by 36% last year.

“A fire can destroy in minutes what a family has built over years. With 19 fires affecting homes every day in Romania, facultative insurance doesn't just provide financial protection — it gives families the assurance they can rebuild,” said Alexandru Ciuncan, President and CEO of UNSAR.

UNSAR's analysis shows that the average claim payout for fire damage last year was around RON 56,000, a sum that can severely impact a family’s budget without adequate insurance coverage.

“Recent data clearly show a significant rise in both the number of fires and the cost of resulting damage. Now more than ever, a voluntary home insurance policy is a vital tool for protecting families and long-term investments,” added Alina Bărbulescu, Property & Goods Insurance Specialist at UNSAR.

In Romania, voluntary insurance can be purchased only for homes already covered by the mandatory PAD policy (natural disaster insurance). These optional policies offer broader protection, covering the real value of both the building and its contents. They insure not only against natural disasters but also against risks such as fire, explosion, storms, falling objects, and water damage from broken pipes or heating systems, as well as appliance and electronics damage.

At the end of 2024, according to data provided by the market supervising authority, there were 1.7 million valid facultative home insurance policies, of which 1.65 million new contracts. Gross premiums written in 2024 amounted to RON 618.84 million, while claims paid reached RON 163.7 million. In comparison with 2023, GWP went up by 8.2%, while claims expenses increased by close to 13%.

At the same time, 2.34 million homes held a mandatory insurance policy PAD, with total GWP worth RON 293.45 million. PAID, the cat insurance pool, paid claims worth RON 19.67 million.

1 EUR = 4.9741 Lei - RON (December 31th, 2024)