¿Are damages caused by earthquakes and volcanic eruptions covered?
After the Earthquakes and the Volcanic Eruption of the Island of La Palma, many of us ask ourselves this question.
The answer is YES but only IF YOU HAVE CONTRACTED AN INSURANCE various ‘Extraordinary Risks’ are covered, including Earthquakes and Volcanic Eruptions.
In Home, Business, Business insurance, a part of the premium goes to the Insurance Compensation Consortium (State Agency that compensates in case of Extraordinary Risks), even Car insurance also covers if you have at least damage coverage materials, for example window coverage.
What do they compensate me?
The compensation will be based on the capital contracted in the Insurance policy, obviously an expert from the Consortium or your Insurance company will verify these damages and that the capitals conform to reality.
Other coverages such as Loss of Rentals, Business Interruption, or Loss of Profits would also be compensated, if they are included in your insurance.
CAUTION! There is a 7-day gap from the day of issue of the insurance policy, so, more than 7 days must pass from the contracting of the insurance and the occurrence of the natural disaster for there to be coverage from the Consortium.
What if i don’t have insurance?
There will no longer be compensation from the Consortium, only after the declaration of a Catastrophic Zone will it be at the expense of possible aid and compensation that is approved by the different public administrations and that possibly only reach a small part of the damages suffered.
Even if you have insurance and receive compensation from the Consortium, you can still access these grants.
What extraordinary risks are covered by ccs?
They are very diverse from Earthquakes, Volcanic Eruptions, Tidal Waves, Onslaught of the sea, Floods, Winds exceeding 120km / h, hurricanes, tornadoes, etc…
Also damages caused violently as a result of terrorism, rebellion, sedition, mutiny and popular tumult.
And possible damages caused by Acts or actions of the Armed Forces or the Security Forces in peacetime.
And who is in charge of the processing?
You can process everything through your Insurance Broker or directly with the Insurance Compensation Consortium, when serious events such as the Eruption of the Volcano occur in La Palma, they assign a direct line, available to the insured to contact directly.
Freephone 900 222 665
www.consorseguros.es
For any Information Contact Us
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