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PAD is the insurance policy against natural disasters. According to law no. 260/2008, homeowners have the obligation to have this mandatory home insurance. PAD insurance offers coverage for damage caused by natural phenomena. PAD covers three risks: earthquake, landslide and flood.
PAD is the insurance policy against natural disasters. According to law no. 260/2008, homeowners have the obligation to have this mandatory home insurance. PAD insurance offers coverage for damage caused by natural phenomena. PAD covers three risks: earthquake, landslide and flood.
The home insurance against natural disasters can be taken out for several types of houses, including work housing, temporary housing (temporary accommodation), vacation housing, social housing, protocol housing, and intervention housing.
This type of insurance covers the damage caused because of a natural disaster, regardless of its direct or indirect effect.
To qualify for the PAD policy, homes must be located in Romania and owned by an individual or legal entity registered with the tax authorities.
The home insurance against natural disasters can be taken out for several types of houses, including work housing, temporary housing (temporary accommodation), vacation housing, social housing, protocol housing, and intervention housing.
This type of insurance covers the damage caused because of a natural disaster, regardless of its direct or indirect effect.
To qualify for the PAD policy, homes must be located in Romania and owned by an individual or legal entity registered with the tax authorities.
Homes located in buildings classified as seismic risk class 1, following expertise carried out by certified technical experts, cannot receive insurance for the risks covered by the PAD policy.
Annexes and other constructions not structurally connected to the building covered by PAD cannot receive insurance. The policy also excludes coverage for the goods inside the house.
Homes located in buildings classified as seismic risk class 1, following expertise carried out by certified technical experts, cannot receive insurance for the risks covered by the PAD policy.
Annexes and other constructions not structurally connected to the building covered by PAD cannot receive insurance. The policy also excludes coverage for the goods inside the house.
Mandatory home insurance (PAD) covers a period of 12 months. Financial damages caused by earthquakes, landslides or floods are covered based on the type of insured house.
PAD insurance must be paid in advance, before the previous policy expires.
In the event of damages resulting from the risks covered by PAD, the insurer repays the insured amount on the date of the event by paying an additional premium deducted from the compensation owed. The insurer will calculate the insurance premium based on the remaining insurance period and the compensation received.
If the home changes ownership during the PAD insurance contract, the insurance remains valid and transfers to the new owner through an additional document issued by the insurer.
Mandatory home insurance (PAD) covers a period of 12 months. Financial damages caused by earthquakes, landslides or floods are covered based on the type of insured house.
PAD insurance must be paid in advance, before the previous policy expires.
In the event of damages resulting from the risks covered by PAD, the insurer repays the insured amount on the date of the event by paying an additional premium deducted from the compensation owed. The insurer will calculate the insurance premium based on the remaining insurance period and the compensation received.
If the home changes ownership during the PAD insurance contract, the insurance remains valid and transfers to the new owner through an additional document issued by the insurer.
There are two types of mandatory home insurance, the categories being determined based on the construction of the home. Thus, there are:
Type A house has a resistance structure built of reinforced concrete, metal or wood, external walls of stone, wood, burnt brick or any material resulting from a chemical or thermal treatment.
For type A housing, the insured amount is 100,000 lei, and the insurance premium amounts to 130 lei per year.
Type A house has a resistance structure built of reinforced concrete, metal or wood, external walls of stone, wood, burnt brick or any material resulting from a chemical or thermal treatment.
For type A housing, the insured amount is 100,000 lei, and the insurance premium amounts to 130 lei per year.
Type B housing is built using unfired brick or materials that have not undergone chemical or thermal treatment, such as clay.
For this type of house, the insured amount is 50,000 lei, and the insurance premium costs 50 lei per year.
Type A house has a resistance structure built of reinforced concrete, metal or wood, external walls of stone, wood, burnt brick or any material resulting from a chemical or thermal treatment.
For this type of house, the insured amount is 50,000 lei, and the insurance premium costs 50 lei per year.
From a legal standpoint, things are clear – the mandatory insurance must be concluded by every homeowner (except for owners of homes in seismic risk class 1), otherwise the homeowners risk fines.
Optional insurance is dependent on the will and choice of the homeowner.
From a legal standpoint, things are clear – the mandatory insurance must be concluded by every homeowner (except for owners of homes in seismic risk class 1), otherwise the homeowners risk fines.
Optional insurance is dependent on the will and choice of the homeowner.
To protect your home, you must understand the differences between mandatory (PAD) and optional insurance. Each option provides distinct advantages and covers different risks, offering solutions tailored to the needs of each homeowner.
You can verify our insurance here.
The optional insurance offers a series of advantages that cover risks not included in the mandatory insurance. Benefits:
To protect your home, you must understand the differences between mandatory (PAD) and optional insurance. Each option provides distinct advantages and covers different risks, offering solutions tailored to the needs of each homeowner.
You can verify our insurance here.
The optional insurance offers a series of advantages that cover risks not included in the mandatory insurance. Benefits:
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