Full coverage· Security· Updated 15:23

Israelis Face Housing Loss Risk From Earthquakes Due to Insurance Gaps

An earthquake in southern Israel on November 11th has exposed a financial vulnerability for homeowners, as the state does not compensate for earthquake damage. Unlike war damage, earthquake losses are not covered by government funds, making individual insurance policies crucial.

2 newsrooms · 2 languages · since 11 Nov, 21:35

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Israelis Face Housing Loss Risk From Earthquakes Due to Insurance Gaps — Illustration by baba

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What happened

01Israelis face potential housing loss from earthquakes due to government compensation gaps.
02The state does not compensate for property damage caused by earthquakes.
03Homeowners are solely responsible for securing adequate earthquake insurance.
04Standard insurance may not cover the full market value of lost homes.
05Coverage for furniture, belongings, and temporary housing requires separate policies.
06An earthquake on November 11th in southern Israel highlighted these risks.

Many homeowners may find their insurance payouts insufficient to cover the full market value of lost homes or may lack necessary coverage for contents and temporary housing, risking significant financial loss.

Translated and summarized by baba from Cursorinfo, the latest report. Read Cursorinfo’s original