Floods and insurance: How damage is covered and what to do - tips from the Bremen Consumer Center.

Floods and insurance: How damage is covered and what to do - tips from the Bremen Consumer Center.

According to a report from www.butenunbinnen.de, the flood situation in Bremen and the region remains tense, and many of those affected are wondering which insurance will cover the damage. According to the Bremen consumer advice center, natural hazard insurance is necessary for damage to the house or furniture, which is taken out as additional insurance to the building and/or household contents insurance. However, it is often the case that natural disasters are not insured at all by many insurance companies. Car insurance will pay for cars that are washed away, provided you have at least partial coverage.

In the event of damage, it is important to prevent further damage and to document everything. It is also possible that the insurance will not pay if certain contractual obligations are not met. The consumer advice center recommends taking out elementary insurance for the building sector, as the risks have clearly increased in recent years. For the household contents, whether such insurance is worthwhile depends on how valuable they are.

From an economic perspective, the tense flood situation can have an impact on the insurance market. Due to increased claims, insurance companies may increase their premiums to compensate for the increased risks. This may result in a burden for consumers who will have to pay higher premiums. In addition, the increased number of natural disasters could also lead to insurers adapting their insurance conditions and including natural hazard protection as a standard in their policies in order to cover the increasing risks.

Overall, the recommendation is to consider taking out elementary insurance early on and to compare different providers in order to be best protected against the effects of natural disasters.