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Legislation
Natural disasters are no longer rare. The 2019 earthquake and the frequent floods over the years have shown that our homes are more exposed than we might think. It is precisely in this context that the new draft law on mandatory housing insurance has come into force, which now covers not only earthquake damage but also flood damage. The main change in the law is the expansion of insurance coverage. While the focus previously was solely on earthquakes, floods are now included as well, an increasingly common risk, especially in urban areas and near rivers. This means that homeowners will benefit from more comprehensive financial protection, helping them avoid the often unbearable costs that follow natural disasters. The law also предусматри the creation of a National Mandatory Insurance Fund, which will manage the scheme, while insurance companies will act as intermediaries. In practice, insurance will be mandatory for all residential properties and will be linked to other administrative services, making it difficult to avoid. The goal is clear: the more homes are insured, the less burden falls on the state and citizens after a catastrophe. Naturally, one key question concerns cost. Although insurance premiums are expected to be slightly higher due to the inclusion of flood coverage, the long-term benefits are significant. Instead of families facing major damages alone, insurance provides a safety net that ensures peace of mind and financial stability. In the end, this draft law is not merely a new obligation, but a step toward a stronger culture of insurance and prevention. Insuring a home should not be seen as an unnecessary expense, but as an investment in the future and in family security. In a reality where nature is becoming increasingly unpredictable, being prepared is the wisest choice.
