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I'm afraid of an earthquake. Should I take out home insurance?

Publish date 09 October 2013
I'm afraid of an earthquake. Should I take out home insurance? image

An earthquake is something few people want to think about. However, the risk of its occurrence is real, and in recent decades there have been in Istanbul and Athens. Bulgaria is in a relatively seismically active zone, as the country itself is divided into several zones.

It is important to know a few things about earthquake risk insurance.

First of all, the purpose of this insurance is to protect personal wealth, in this case housing.

Second, the cost of annual earthquake insurance is about 10,000 times lower than the cost of housing. It is proportional to or less than the price for cable TV or the Internet.

Third, this insurance gives peace of mind.

The big problem before concluding it is the fact that there is no habit of concluding it. That is why after every disaster, such as the earthquake in Pernik, voices are raised about making insurance compulsory, as is the practice in many European countries.

Traditionally, however, measures are taken only when it is late, ie after the event.

Those wishing to use a lower price of insurance can wait for a promotion, as large companies do, with the price of property insurance at a discount of up to 40% of the base price.

Let's give an example. The price for insurance can be BGN 25 per year (BGN 2.08 per month) for coverage such as BGN 10,000 for real estate, BGN 3,000 for movable property and BGN 2,000 for burglary. . With an additional payment you can add the risks Earthquake or Liability to third parties.