Only 20% of the houses in flood-hit Galati county have mandatory insurance
<p>Only one out of five localities in Galati county, <a href="https://www.romania-insider.com/storm-boris-floods-deaths-romania-sept-2024" rel="noopener" target="_blank">severely hit by the floods recently</a>, had mandatory insurance at the end of August, according to data from PAID – the entity that manages the compulsory home insurance scheme against floods, earthquakes, and landslides.&nbsp;</p>

<p>The insurance rates tend to be much lower than the average in rural areas, which are typically hit by floods.</p>

<p>In the less-developed county of Vaslui, less than 13% of the total houses were insured.</p>

<p>"The first estimates show that around 1,500 damage files will be opened," Cosmin Tudor, PAID's deputy general director, told <a href="https://hotnews.ro/primele-estimari-privind-pagubele-dupa-inundatiile-din-galati-si-vaslui-cate-case-sunt-asigurate-obligatoriu-in-cele-mai-afectate-localitati-1792350?mc_cid=995e47f354&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Hotnews.ro</a>.&nbsp;</p>

<p>The compensation paid under standard mandatory home insurance is RON 100,000 (EUR 20,000) for brick homes and RON 50,000 (EUR 10,000) for less robust buildings.</p>

<p>Comparatively, the Government set aside EUR 100 mln for roughly 10,000 households hit by the floods (EUR 2,000 per household).</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: Inquam Photos/George Calin)</em></p>