The summer storm season has barely begun, and the weather has already caused a lot of damage 2024-07-05 13:31:34

It is possible that this year’s storm season insurance claims will once again set a decade-long record. At half-time, the bill is much higher than last year’s four months. However, last year’s claim payments were also a decade-long record, the Association of Hungarian Insurers (MABISZ) published the latest data.

Following the stormy period in June, customers filed nearly 45,500 claims related to their home insurance policies, as a result of which the amounts already paid and reserved for payments exceed HUF 6 billion. MABISZ has been collecting damage payments for the May-August storm season since 2010.

Last year, payments and reserves for the same period amounted to HUF 3.4 billion, for about 31.5 thousand notifications. The current data for May-June thus stands at 61.5 thousand notifications and an amount of 7.7 billion.

In last year’s storm season, at the end of August, insurers paid out more than HUF 13 billion for nearly 110,000 claims or set aside reserves for claim payments. At the time, this was considered a decade-long peak, well exceeding the previous record of HUF 9.1 billion in 2021. These totals do not include agricultural damage and weather-related damage to industrial facilities, public institutions, etc. caused damage, they added. This year, the mid-term data predicts a more expensive summer than last year from the insurance point of view.

June in Jász-Nagykun-Szolnok, Bács-Kiskun, Heves, Zala, Borsod-Abaúj-Zemplén, Szabolcs Szatmár-Bereg, Nógrád, Hajdú-Bihar, Pest counties and Budapest XII. caused particularly great damage in its district, Ibrány, Debrecen, Ebes, Nyíregyháza. Mostly June 1, 3, 9-10. and 22-24. In the days between Most of the reports were related to drenching, windstorms, lightning strikes, secondary effects of lightning (when nearby lightning causes damage to electrical equipment, for example), downpours, storms, and ice. Under the conditions specified in the contract, home insurances provide coverage for these, as well as, depending on the type of contract, additional fire and elemental damage, up to several dozen.

Regarding storms, the average damage of over HUF 120,000 is roughly twenty to forty percent higher than a few years ago. On the one hand, this indicates the intensity of this year’s storms, and on the other hand, it is due to the increased construction and reconstruction costs. Higher sums than in previous years must be allocated for the restoration of relatively minor damage, they added.

2024-07-05 13:31:34