The law regulating mandatory home insurance comes into force
today, with all home owners being required by law to conclude an
insurance policy, which costs 10 or 20 euros per year. The eight
million homeowners in Romania are required to get a home insurance
policy within six months, or face a fine of up to 500 RON.
The insurance costs 10 or 20 euros, depending on the type of home,
with the insured amount being 10,000 euros and 20,000 euros per
year respectively. The lower price applies to unburnt brick homes
and to homes made from any other non-thermally or chemically
treated materials, such as adobe, while the higher price applies to
homes with a resistant structure of reinforced concrete, metal, or
wood, or whose outer walls are made of stone, burnt bricks, or
other thermally or chemically-treated materials.
The first policies will be issued today at a conference organised
by the Insurance Pool Against Hazards (PAID), the company that will
issue the policies.
13 companies are PAID shareholders: Groupama, Astra, Uniqa,
Generali, Ardaf, Euroins, Carpatica Asig, Grawe, Credit Europe, ABC
Asigurari, Certasig, City Insurance, and Platinum.
ZF English
Eight million Romanians have to insure their homes
Eight million Romanians have to insure their homes