The interested is reflected to a lesser extent by the evolution of the number of home insurance policies (compulsory and optional). Thus, in the first half of this year it increased by 4% compared to the same period in 2020, even though the number of uninsured homes remains high. In the same period, insurers in Romania paid out almost 43.8 million lei in claims under these policies, up from the first 6 months of the previous year, according to the Financial Supervisory Authority.
"Protection against risks we are exposed to should be a priority for all of us. Although the percentage of those who insure their homes is still low, it is encouraging that the interest of Romanians continues to remain at a high level. Risk awareness is a key factor in making the decision to insure your home", said Adrian MARIN, President of UNSAR.
"We remain concerned that more and more Romanians are informed about the financial protection offered by insurance. At the same time, compulsory and optional home insurance is a solution to reduce the financial impact on the state and local communities - in case of undesirable events", stated Alexandru CIUNCAN, Director General of UNSAR.
The main sources of information on home insurance are television (58%), Internet (38%), insurance companies (21%), friends (18%), family (11%), radio stations (10%) and the written media (8%).
In the context that only 1 in 5 homes is protected by a mandatory PAD insurance, 83% of Romanians say they would agree with the eventual introduction of its deductibility from local taxes and fees. At the same time, most respondents consider that the existence of the PAD policy could be conditioned by the reduction of prepayment of taxes (64%), the conclusion or modification of a utility contract (63%), or the conclusion of real estate transactions (52%).
It is important to highlight that the compulsory insurance policy (PAD) insures 3 catastrophic risks - earthquake, flood and landslide -, up to a limit of 20.000 EUR, respectively 10.000 EUR, depending on the type of construction, regardless of whether the value of construction is higher, while a voluntary insurance covers, in addition, risks such as fire, explosion, storm, windstorm, theft or vandalism - at insured amounts corresponding to the real value of the home. Special clauses can also be attached to optional policies, such as insurance for the building's interior fittings, electrical/electronic appliances, breakable goods, as well as liability towards third parties (e.g., neighbors).
The survey "Romanians' perception of home insurance" was conducted by IRES, at the request of UNSAR, on a nationally representative sample of 857 respondents, aged over 18, owners, co-owners or people intending to buy a home in the next 2 years. The survey was conducted in August 2021, using the CATI (Computer Assisted Telephone Interviewing) method and has a maximum tolerated error of +/-3%.