This week I received an updated report from Spain’s Consorcio de Compensación de Seguros (CCS) with fascinating information after last month’s devastating gota fría ruined houses up and down the Costa Blanca.
The CCS has now opened over 59,000 claims due to the bad weather conditions between September 11-15, 2019.
The estimated total cost at the moment is expected to be €379 million.
However, they are anticipating to receive a total of between 63,000-65,000 claims, estimated to cost in excess of €422 million.
So far, €6.7 million has already been paid, with 332 insurance experts and assessors working with the CCS.
At the peak, the CCS were receiving 1,500 to 4,500 applications daily, but this has now slowed to between 500 and 700 daily requests.
There is no deadline to apply for CCS claims, nor is there a limit to the total amount that the CCS will pay out overall for this situation.
However, the CCS states that they will pay compensation as is due under existing insurance policies held by the policy holders affected.
In other words, the CCS will pay as per the coverage of your policy.
As you can see from these statistics, the CCS has been really pushed due to the vast volume.
My company had a full-time consultant opening claims for many anxious clients – both my own clients and those of other insurers, who found their insurance companies very unhelpful in this situation – who is still helping as required.
Please, when either taking out a new policy, or renewing your existing policy, check the insured value of the property and reassess your contents cover, which includes your kitchen.
There are many who have discovered that they are under insured, particularly those who purchased their policies by price alone.
It is always worth checking your contents cover, as we are regularly changing and updating our homes, and it is always a surprise when you work out what it would cost to replace everything.
For a fully comprehensive, tailor-made home policy quotation to protect yourself and your home, please call one of Jennifer Cunningham’s consultants.
Tel: +34 966 461 690