• 06/10/2023

Home insurance for natural disasters will lead to a reduction in ENFIA of up to 10%.

Home insurance for natural disasters will lead to a reduction of ENFIA up to 10%. In particular, from 2024 and following years, ENFIA can be reduced to a percentage of up to 10% for residences of natural persons, provided they have insured them in an insurance company, which is registered in the Register of Insurance Companies, which is kept at the Private Insurance Supervision Department of the Bank of Greece. The reasons why a property must be insured must strictly relate to natural disasters such as earthquake, fire and flood. Also, it should be noted that the value of the insurance must cover the total value of the property. 
More specifically, the value of the property is the reconstruction value of the property or properties without the value of the plot and provided that it is not below the amount of 1,000 euros per square meter. Finally, it is necessary that the insurance period of the property is for one year, so that it is possible to reduce the ENFIA at a rate of 10%, otherwise for a shorter period it is adjusted proportionally and in any case it must have at least three months of insurance .