Flood damages to house worth nearly EUR 60 000, road accident that resulted in a more than EUR 40 000-worth car becoming beyond repair, as well as acute illness during a trip in Switzerland with compensation of more than EUR 20 000 to cover medical assistance and transportation costs. These are but some of the problems clients reported to Swedbank Insurance this year.
Information available for the first 11 months of 2023 shows that natural disasters caused some of the biggest problems for residents this year.
The biggest damage to dwellings were caused by hail and floods
In most cases (42%) housing insurance claims were paid for various damages caused by water pipeline leaks. The average compensation amount for damage of this kind was EUR 1 089. The biggest compensation amount was EUR 32 450.
Compensation size-wise 8 out of 10 biggest compensation amounts paid in Latvia this year were associated with damages caused by various natural disasters.
The storm and intense hail that hit Latvia earlier this year caused severe damage to various homes and roofs. Solar panels were damaged in many cases as well. Insurance claim amount paid in such case reached EUR 41 000. In another case large hail had struck holes in a house’s roof. Rain water quickly leaked inside and caused flood damage. The insurance compensation paid in this case was EUR 40 800, Swedbank reports.
In nearly every fifth case insurance compensation was paid for damage to belongings caused by humans or pets. For example, the parking sensor in a car owned by some person did not go off, which resulted in a garbage container getting smashed into the facade of a house. In another case the owner decided to move a metallic lamp from one location to another, but during the moving process the dome portion of the lamp fell on a computer, damaging its display.
EUR 42 447 compensation after car smashes into a tree
This year in 43% of cases KASKO insurance cases were related to damages caused by collisions with other cars, road obstacles or cars veering off the road. The average compensation for such accidents was EUR 1 786. The biggest compensation amount – EUR 42 447 – was paid to a motorist who crashed his car into a tree trying to give way to another car. There was no point in repairing the car. This is why the owner was paid a compensation amount equal to the car’s value. Every fifth KASKO case (19%) involved wind shield or other window damage. The average compensation in this case was EUR 433. The biggest compensation paid was EUR 2 000 – a rock was lodged into the wind shield of a car.
With night time longer in the winter season, motorists come across wild animals more and more often. The average compensation amount for collisions with wild animals was EUR 2 600 this year. The biggest compensation amount – EUR 14 293 – was paid to the owner of a car that had collided with a wild animal. Damage was so severe there was no point in repairing the vehicle, so the owner was paid a compensation amount equal to the car’s value.
Most often problems during travel – cancellation, health problems and thieves
Travel plans are often ruined by different unforeseen problems and events. Nearly every third travel compensation paid was related to a change of travel routes and timetables, when plans had had to change due to the traveller’s or their family members’ illness (average compensation amount EUR 468). For example, some family was compensated more than EUR 2 400 when their travel plans because of a sudden illness of their child.
Unfortunately, it not always possible to predict health problems that surface during travel. Reception of medical services abroad was the second most frequent reason for insurance compensations last year (30%). The average compensation amount EUR 633. The biggest compensation paid for such accidents exceeded EUR 20 400, when some traveller in Switzerland required immediate medical services and transportation to Latvia because of an acute health problem.
Tourists frequently become prey of local thieves. Every fifth insurance compensation case was related to damages or theft or personal items (21%, average compensation amount EUR 395). A compensation amount of EUR 9 000 was paid to some family whose car was robbed abroad.
Household injuries sustained during physical activities and road traffic
According to life insurance data from Swedbank, the most common types of injuries suffered by residents this year were domestic injuries (83%), sports injuries (6.9%), and injuries suffered in road traffic accidents (5.7%). The average compensation paid in injury cases was 460 euros, but the highest compensation paid reached as much as EUR 15 320.
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Bank: 58 200 euros paid to homeowner whose property was damaged by flooding
