Six days after the passage of a DANA that has devastated roads, crops, infrastructure and entire towns in the Levant peninsula, there are still doubts about what the final death toll will be and the costs of all this, in economic terms. Regarding the latter, the only obvious thing is that the compensation is going to be in the millions. At the moment, the insurance association Unespa has already described it as the most costly climate incident in the history of Spain.
Some figures are worth it, and yesterday the self-employed association ATA recalled that 54,200 companies operate in the affected area, employing 355,000 workers. In addition to these, there are 51,000 self-employed workers and nearly 35,000 commercial premises. Important is the data on the self-employed, those hair salons, kiosks, grocery stores and other businesses that will be more affected because they have less economic muscle to face the costs of reconstruction. Add to this the houses that have collapsed, the flooded basements and the thousands of damaged cars that are everywhere in Valencia these days.
In this context, the concern of citizens to know Who can collect compensation, when and how. Regarding this, the most important thing – and this is what the consumer organization Facua recalled last week – is that natural disasters are covered by the Insurance Compensation Consortium, which depends on the Ministry of Economy and is in charge of covering life, home, vehicles, and companies, such as Agroseguros, a group that manages agricultural and livestock insurance.
But there is a nuance that must be remembered, given the circumstances, and that is that Compensation is only provided in cases where there is insurance contracted.. From there there are a series of questions that may not be very clear in all cases, which is why Unespa has issued a statement in which it tries to clear up doubts.
What period do I have to file the claim?
“The policyholder or the insured or the beneficiary must notify the insurer of the occurrence of the incident within a maximum period of seven days of becoming aware of it, unless a longer period has been established in the policy”; That is the literal meaning of Law 50/1980, of October 8. However, both the Insurance Consortium and Agroseguros have explained these days that, given the circumstances, they are going to be flexible with the deadlines.
How much are they going to pay me?
The Insurance Compensation Consortium (CCS) and the insurers of the homes, premises and communities of owners will compensate the damages caused, but Under no circumstances may the amounts disbursed exceed the value of the destroyed property or the limit stipulated in the contract. That is, the so-called “insured capital” or “insured sum.”
What is the insured capital?
The “insured capital” or “insured sum” is the maximum amount that the Insurance Compensation Consortium (CCS) or the insurer will pay for the damage that has occurred to a property. In this case, we must consider the insured capital of the community of owners policy, on the one hand, and that which appears in each of the home or commercial insurance of the owners of the community.
Where will I live if I have lost my house?
Homeowners who have home insurance may have their insurance policies include uninhabitability coverage. In these cases, the employer explains, their insurer will provide them with help in finding temporary accommodation. Usually for a few days. The scope of this protection will depend on the conditions stipulated in the contract (amount, days, etc.). It is important to keep receipts of expenses incurred to credit them later.
I had a property insured and I have lost the income
Owners who used their home or premises for rent and had it specified in their insurance contract, may receive compensation for the loss of income under the conditions stipulated in the contract (amount, days…).
Are aid and insurance collection compatible?
«Public aid is compatible with the compensation that would correspond under insurance without in any case the total amount of all payments exceeding the value of the damage caused. The Agrarian Insurance Plan specifies that everything that can be insured is not subject to public aid,” explains Unespa in its note.
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