Storm Kristin: only 26% of the damage was insured
Of the €5.3 billion in losses caused by the bad weather, just 26% was covered by insurance, and 91% of the indemnified losses were absorbed by the international reinsurance market. Around 80% of the covered damage has now been paid out.
Why it matters for your move
Home insurance is mandatory only with a mortgage, so a large share of owners carry storm risk themselves without quite deciding to. If you bought outright, this is the number that says whether that was a choice or an oversight.
This is Re-locant.com’s own brief, written to explain what the update means for people moving to or living in Portugal. For the full original report, see the source below.