Insurance coverage. - Last year, storm-related damages were less in Thuringia.
In 2022, Thuringia insurance companies experienced less damage from unexpected weather events compared to the previous year, with overall losses amounting to €54 million, a €5 million decrease from the €59 million recorded in 2022. The losses were attributed to storms, hail, flooding, and heavy rain, with €39 million going towards damages to homes, personal property, commercial and industrial establishments, and €15 million for weather-related car damages.
The German Insurance Association (GDV) noted this development on Monday in a report, indicating that Thuringia was below the national average in terms of weather damage. Specifically, there were 11.5 reports of weather damage per 1,000 home insurance contracts for residential homes, compared to the 2022 figure of 26.4. The national average stood at 18.5 reports.
Thuringia ranked 13th in terms of the number of reported residential building damages across the country, while Schleswig-Holstein topped the list with 31 reports per 1,000 insurance contracts. For property insurance, there were 5.5 reports per 1,000 contracts with comprehensive coverage, and for car insurance, 3 such reports were registered per 1,000 contracts. The GDV pointed out that while most homes in Thuringia were covered against storm and hail damage, only 54% were insured for elemental risks like heavy rain and flooding - the same proportion seen nationally.
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Despite the decrease in storm-related damages in Thuringia, the region was not entirely spared from natural disasters. In December 2021, parts of Berlin and Nordhausen in Thuringia's Kyffhäuserkreis experienced severe Christmas floods, causing significant storm damage. The city of Erfurt also faced a storm earlier in the year, leading to additional weather-related issues.
These incidents serve as reminders that while overall losses may have decreased, individual communities can still be affected by extreme weather events. This highlights the importance of proper insurance coverage, particularly for elemental risks like heavy rain and flooding. According to the GDV, only 54% of homes in Thuringia are insured against such risks, suggesting a potential gap in protection for many homeowners.
Source: www.stern.de
