Only 19% of houses have insurance with seismic risk coverage. Learn how to add.
Only two out of every 10 homes are covered by seismic risk insurance. Learn how to add this coverage to your insurance.
Do you have earthquake coverage in your home insurance? APS warning and how to have it. [Translation URL](https://translate.google.com/)
The data is from the Portuguese Insurance Association (APS), shared on Notícias ao Minuto, and indicates that only two out of every 10 houses in Portugal have insurance that covers seismic risk.
According to the APS, it is essential that citizens are aware of the risk and verify the insurance coverage they have contracted for their home.
The alert was given after the earthquake, with a magnitude of 4.7, shook the Greater Lisbon region on Monday, the 17th.
"In Portugal, 53% of homes are insured. 34% have fire or multi-risk insurance, but without earthquake risk coverage and only 19% have insurance with earthquake risk coverage," says APS, cited by Notícias ao Minuto."
APS advises all Portuguese to check if they have seismic risk coverage and, if not, to add this coverage to their insurance: "It is in the houses that the main savings of the Portuguese are. So it is so important to protect this savings," it can also be read.
It is never too much to remember - "Portugal is in a seismic zone and has already been seriously affected by one of the biggest earthquakes on record, which occurred in 1755 and devastated part of the city of Lisbon and other areas of the country. We are not facing mere uncertainty, but a real risk of certain occurrence at an uncertain moment," explains the APS in the news.
Therefore, it is important to know that "there are individual insurance solutions to help protect citizens and companies from losses resulting from an earthquake", and "having insurance can make all the difference in these circumstances".
Read more: How does a multi-risk insurance work?
How to add seismic risk coverage to home insurance?
The insurance that can protect your property from the risk of earthquakes is called multi-risk insurance and, if you have a home loan, you have this insurance contracted as it is required in the financing. The objective of this insurance is to cover damages that occur in the property or contents, as well as civil liability.
In other words, in case of a claim on the property, it is ensured through a certain capital according to the contracted coverage.
According to the Insurance and Pension Funds Supervisory Authority (ASF), there are basic and predefined coverages in a multi-risk insurance. However, you can add the complementary coverages you need, such as with seismic events coverage.
Learn more: Home multi-risk insurance: What are the essential coverages?
So, by wanting to add seismic risk coverage to your insurance, you must first be aware that the premium to pay may possibly increase. Next, you should proceed to contact your insurer. To do so, you can rely on an insurance mediator, who will help you in the process of ensuring the best insurance conditions with the new coverage contracted.
Want to hire a multi-risk insurance or add seismic risk coverage to yours? Contact an insurance mediator from Poupança no Minuto and leave everything to us, it has no cost! Save yourself and talk to us now.