Storm damage: Which insurance pays and what do insured people have to consider?

Storm damage: Which insurance pays and what do insured people have to consider?

According to a report by www.sueddeutsche.de,
Storm damage can have significant financial consequences for homeowners. Which insurance company is responsible for the damage depends on the type of damage. According to insurance law, wind force 8 must be reached for a storm to be recognized. Storm damage to the house, such as a covered roof or a destroyed chimney, is a case for home building insurance. Household contents insurance covers damage to movable objects and partial comprehensive insurance pays for damage to the car caused by falling trees or roof tiles.

It is important to report storm damage to the insurance company immediately, in writing and by calling the insurer's claims department. It is also advisable to document damage well and keep invoices. Photos of the damage and a detailed list of damaged items can help show the damage clearly. In the case of uninhabitable houses, repaired damage must also be documented and damaged parts should not be discarded, while tradesman invoices must be retained.

As an economist, it is important to analyze the potential impact of this storm damage. The insurance industry could experience significant losses and be financially burdened. For consumers, this could mean insurance premiums could increase in areas with frequent storms. Homeowners may also face longer insurance claim processing times, which could result in financial stress and delays in repairs.

Overall, storm damage can have a significant impact on the market, consumers and the insurance industry. It is therefore very important to know the applicable insurance conditions and to act appropriately in the event of storm damage in order to minimize potential financial burdens.