Half of Poles now have home insurance, but weather risks raise concerns

Only half of Poles have secured their homes or apartments with insurance, despite growing concerns about extreme weather events. According to a new study by the General Insurance Institution (PZU), homeowners are particularly worried about severe storms, hail, and lightning, which pose increased risks of property damage. In contrast, urban residents in multi-family buildings show greater concern for risks like flooding, theft, and household system failures.

“Climate change is making extreme weather more frequent and intense, raising the risk of significant damage from strong winds, hail, heavy rain, and lightning,” stated PZU, Poland’s largest insurer. The survey shows that around 90% of homeowners fear these events, though only about half have ensured their policies cover these specific risks. Meanwhile, both homeowners and apartment dwellers rank fire as their top concern.

In response, PZU is rolling out a new awareness campaign to highlight the importance of comprehensive property insurance, addressing both unforeseen events and realistic asset valuation. Marta Strzyżewska, PZU’s Managing Director of Marketing and Social Involvement, stressed the need for property owners to assess the full scope of their insurance needs. “Our survey shows that people often lack awareness about the full range of risks they face, which affects their insurance choices,” she said. Strzyżewska noted that PZU’s campaign is designed to educate the public on the critical need to protect assets against potential losses.

PZU’s spokesman, Piotr Ożarek, emphasized the importance of correctly estimating a property’s value to ensure proper coverage. “When valuing a property, it’s essential to include not only the building structure but also interior elements like electronics, furniture, and sporting equipment. This approach ensures that, in case of damage, the insurance payout will restore the property to its pre-event state,” Ożarek explained.

The campaign, which began on November 5 and will run until December 8, features digital ads and 30- and 15-second video spots aimed at enhancing Poles’ understanding of property insurance and helping them safeguard their homes and valuables.

Source: PZU and ISBnews