After floods, hailstorms and storms which have affected various areas of Italy in recent months, from Lombardy to Veneto via Emilia Romagna, the prices of home-related insurances have risen sharply in our country. The complaint comes today from Aiped, the Italian Association of Damage Appraisers, which by analyzing Istat data reports strong growth also for insurance rates in the motor liability sector.
«The prices of home-related insurance go up by +9.1% in July compared to the same period last year – analyzes Aiped – A very strong upward trend which in all likelihood responds to the greater demand for home insurance coverage by Italians”.
During the year, and in particular between the months of May and June, following the adverse phenomena that affected northern Italy, alarms related to the effects of climate change multiplied, especially for the risks associated with homes. Alarms that have prompted a growing number of Italians to take out insurance policies on homes to cover bad weather or exceptional climatic conditions such as hail, tornadoes, hurricanes, etc.
«Type of insurance which, applying the increases estimated by Istat, now costs an average of 138.5 euros per home. But care must be taken. These are policies that do not cover all extreme events, and many exclude, for example, damage caused by earthquakes, floods and avalanches» warns the president Luigi Mercurio who then adds: «There are also ceilings and deductibles that the companies impose on insured, and it is necessary to read the conditions carefully, because often damages caused to balconies, roofs, flues, satellite antennas, etc. are not covered”.
But motor liability rates are also growing, with Istat estimating an increase in July for the item “insurance on means of transport” of +3.3% on an annual basis. «This means that, compared to the average price of the policy estimated by Ivass at 362 euros for the third quarter of 2022, motor liability goes up by around 12 euros, reaching an average of 374 euros. If we consider that 32.5 million cars circulate in Italy, the greater expense for policyholders will be equal to 390 million euros» concludes Mercurio.