12112 Earthquake Insurance

Check the Poste Italiane cover too as they definitely used to cover earthquakes.

We were told when we took out insurance on our house that because the risk is high the government insures buildings against earthquakes. IS this not correct?

Chris

We insured our property in Calabria with Intasure and their policy includes earthquake cover.

Just a word - re earthquake cover SAGA insurance specifically exclude all Italy on their holiday home insurance

Schofields include it in their standard policy.

[quote=jepsonclough;115898]We were told when we took out insurance on our house that because the risk is high the government insures buildings against earthquakes. IS this not correct?

Chris[/quote]

The problem is you have to apply for state money (it often runs out) and it takes [B]many[/B] years to come through. The last payments for the Assisi earthquake were only made a couple of years ago - almost 9 years later.

I an insured through Italsure and have earthquake insurance – and I’m in Abruzzo!

I'm glad to hear that, Nielo, as it would certainly give you peace of mind although I sincerely wish that you will not have to make any claims. Anyway, it is an appropriate time for all of us to check on our insurance policies.

Like many others the dreadful event has made us think once again about insurance. So far we have been insured by RAS, a fairly standard policy, but which (like most Italian insurers) excludes earthquake cover. It may be appropriate to switch to another firm that does provide such cover and as our next premium payment date is in June now is the time to consider this. I have noticed warnings on the Forum before on threads re insurance to the effect "take care as many policies have a ten year term and you can be locked in for this period"

I see that our policy is for 10 years! Does anyone know what this really means? If I were not to pay the premium when due in June and took out a new policy with another insurer would this ok or would I still be liable to pay the remaining 6 years premia to RAS and/or would the policy with the new insurer possibly be invalid because of the prior policy with RAS.

Any advice would be most welcome.

you should have some 'small print' somewhere. You will probably find it you try to leave your current insurers there will be a penalty equal to the remaining years premium. But check that small print...

[QUOTE=jepsonclough;115898]We were told when we took out insurance on our house that because the risk is high the government insures buildings against earthquakes. IS this not correct?

No -this is not correct.In France and Spain there is a legal framework which provides state backed insurance against natural catastrophes ( basically being windstorm,flood and earthquake).This does not exist in Italy so although the state may provide recompense they are under no legal obligation to do so and the only way to be sure of reimbursement is to buy your own private insurance.

Hope this clarifies

[quote=Jenroy;115900]We insured our property in Calabria with Intasure and their policy includes earthquake cover.[/quote]

Do be aware that while Intasure do cover earthquake, the excess is £5,000 and they specifically exclude subsidence and landslip. So earthquake in week one, no immediate damage apparent, but the following week your house moves a bit - will they then say the damage was subsidence/landslip??

I asked Intasure this very question, they haven;t answered but have bombarded me with phone calls trying to pursuade me to take up their insurance.

As has been said before do read the policy terms carefully to make sure it meets your needs.

draft legislation for compulsory insurance on all property in Italy has been on the books a while now... to cover earthquake and landslide, floods... etc... the proposal has been held up as to how to make it law because they cannot work out a way to stop the insurance companies here not reaching unsigned agreements to set a rate between them and make property owners pay over the odds... its the same as you see in the so called liberalised markets here with phones,energy etc...

however the aquila quake has brought it all to the fore once again and i should think within a fairly short time... this law will be passed with levels set at around the euro 150 mark for an average property... so we will soon have to buy that form of insurance under law anyway...

one thing that incidents like l'aquila tend to hide in a sense is the fact that more people have been killed in landslides,floods etc... and more buildings destroyed since the war than caused by any quake problems...so don't get fixated on earthquakes...your house is much more likely to slide down a hill or get covered in mountains of mud than to be destroyed by a quake ...of course sensible precautions negate all the problems... the civil protection guy said about l'aquila that it isn't the quake that was bad its the buildings and how they are built and positioned...

Egelfino's post about excesses on earthquake clauses in insurance policies is relevant. I remember posting something about this in the past - the Poste Italiane policy has (as I recall) a €2000 excess, which is likely to mean that anybody with minor cracks in a decently restored (or otherwise strong or peripheral building) is going to have to meet the (eg) replastering costs themselves. Often outbuildings and swimming pools are excluded from earthquake cover as well, so it sort of makes you wonder if it's worth having (IMO).

Be careful,

I have a contract with RAS . I had tried to pay mine at their office in Comunaza, Le Marche 5 times. Each time their doors were locked or their buzzer didn't work, or their was a note on the door saying that today they'd be closed an hour earlier. I had enough after that and assumed not paying the next installment would automatically void the contract as it does in the UK. After several moths I suddenly received letters from debt collectors demanding pay of the next installment plus their cost of 120 Euros on top. When finally managed to get hold of one of their staff armed with the letters of payment demand I was told the contract wasn't canceled unless I put it in writing. I made it clear that I am not paying retrospectively and wouldn't pay the fine either as the problem was due to their lazyness only opening the office at their leisure (I threatened with a complaint to their Head Office.) The only way out of paying retrospectively plus the debt collector's fee was to cancel the existing contract and make a new one (that was 9 month after last payment was due). As I have a six-monthly payment installment, I will cancel in writing in due time to get out of the contract with them as I think the service is apalling The same thing happened to a friend of mine who also assumed not paying the next due payment would cancel the contract. She received the same letters.