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Compulsory earthquake insurance is approved this December, how much will the fee be?
2025-12-08 20:02:02 / AKTUALITET
The government is expected to approve the initiative for mandatory earthquake insurance of homes within this month.
This initiative, drafted by the Ministry of Finance, has completed the consultation phase and is now in the final phase of approval by the government. The news was confirmed by Finance Minister Petrit Malaj on Vizion Plus.
"This draft law will be approved by the government this month. We have finished the consultation phase and the initiative is very positive, as it addresses a phenomenon that Albania is at risk of, that of earthquake damage. Afterwards, the draft will be subject to discussions in the Assembly for the details and entry into force of it," said Malaj.
But how much will the fee/premium that Albanian families will pay to secure housing be?
After the tragic earthquake of 2019, the government has decided to cover earthquake damage as a high-risk country with mandatory home insurance. Each family will pay an annual fee in case of damage caused by a possible earthquake. But what is expected to be covered by this fee?
The initiative has been involved in debates about whether the tariff will be unified from north to south, especially because it only includes damages from earthquakes when natural disasters affecting the country also include floods or fires. Above all, the biggest debate about this initiative is: Should such insurance be mandatory?/ Vizionplus
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