Specifically, homeowners in the region who chose to insure themselves against weather, earthquakes and fires experienced a 46% increase compared to 2023. This impressive increase is partly attributed to the increased destructive consequences of natural phenomena in the region, such as floods and seismic activity, which motivated Attica residents to seek ways to protect their property.
Central Macedonia follows, with a 14.2% increase in insurance contracts against natural disasters, while increases of 5.2% and 5% were recorded in the Peloponnese and Thessaly, respectively. The regions with the smallest increases were Western Macedonia (1.5%) and the North Aegean (1.6%). Despite more moderate increases in some areas, the overall trend remains upward across the country, indicating a general awareness of the risk of natural disasters and the need to protect homes.
Shift
The increase in home insurance demonstrates the shift of citizens towards strengthening the protection of their property, amid increasing natural disasters, such as weather events, earthquakes and fires. According to data from the Association of Insurance Companies of Greece (AAEE), the total number of insured homes amounted to 1,246,656 policies by December 31, 2024, recording an increase of 7.5% compared to 2023. The proportion of homes with full insurance coverage for natural disasters increased from 52.4% in 2023 to 62.2% in 2024, indicating citizens' awareness of the need for protection from natural hazards.
This trend demonstrates the general awareness of the importance of private insurance and protection from disasters, which is also reinforced by government initiatives. A typical example is the support of the State through the ENFIA discount for insured homes, which encourages citizens to insure their homes, contributing to the strengthening of this trend.
The country's total insurance coverage stood at 18.9% in 2024, recording an increase from 17.57% in 2023. This shows that more and more Greek citizens are choosing to insure their property, taking the risk of natural disasters, which can cause serious damage, financial uncertainty and loss of assets, more seriously.
Concern
This trend is further reinforced by the growing need for protection in areas affected by frequent and intense natural phenomena. In Attica, for example, the sharp increase in natural disaster insurance policies is indicative of the residents' intense concern for the safety of their property, while other regions of the country, such as Central Macedonia, the Peloponnese and Thessaly, are dynamically following the same path. On the contrary, regions with less exposure to natural hazards, such as Western Macedonia and the North Aegean, experienced smaller increases, however the trend remains upward at the national level, indicating a broader awareness of the risk of natural disasters and the need to protect homes.
The Chairman of the Property, Transport and Reinsurance Committee of the Hellenic Insurance Association, Errikos Moatsos, stated in this regard: “The observed increase confirms that citizens increasingly understand the importance of protecting their property from natural disasters. The State, through the ENFIA discount for insured homes, has significantly contributed to strengthening this trend. The citizens’ shift towards insurance is a positive step towards creating a more resilient society, which will be ready to face the challenges of the future and the natural phenomena that are increasingly appearing in modern societies.”
Protection mechanism
The general increase in insurance coverage of property against natural disasters, as well as the strengthening of the institutional framework, make this insurance a necessary mechanism for the protection of citizens and their property. Insurance companies, for their part, continue to strengthen their products, offering comprehensive coverage packages that meet the growing needs for protection against natural disasters.
Source: www.imerisia.gr
