Over 1.6 million households in Romania paid for optional house insurance policies in 2022, about 9% more than in 2021, according to data from the Financial Supervisory Authority (ASF) quoted by the Association of Insurers in Romania (UNSAR).

However, the percentage of houses covered by such optional insurance policies is still low, representing about 17% of the total number of houses in Romania (over 9.6 million).

Another 1.84 million homes in Romania were insured through mandatory house insurance policies in 2022, an increase of just 1.4% versus 2021, according to ASF data.

The optional house insurance policyholders received compensations of over RON 100 million (EUR 20 mln) in 2022, 29% higher than in 2021. Meanwhile, those with mandatory house insurance policies received compensations totalling under RON 3 mln.

The mandatory house insurance (PAD) covers only the damages caused by natural disasters, such as earthquakes, floods and landslides. Meanwhile, the optional house insurance policies also cover risks such as fire, explosion, home flooding due to plumbing failure or by neighbours, and damages to the central heater and electronics in the house, according to UNSAR.

iulian@romania-insider.com

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