Following the 4.1-magnitude earthquake recorded today at 12:14, with an epicenter about four kilometers from Alenquer, according to the Portuguese Institute for the Sea and Atmosphere (IPMA), DECO PROteste once again warns about the fragility of dwelling protection in Portugal in the face of seismic risk.
In a statement, it notes that “although this tremor has not, so far, caused significant damage, the episode reminds us that Portugal is a country with a notable seismic history and that a higher-magnitude event could have very serious human and economic consequences.”
DECO PROteste considers that coverage for seismic risk in Portugal “continues to be manifestly insufficient.” According to ASF data, only 19% of Portuguese homes have coverage for seismic phenomena, which means that, in an extreme situation, eight out of ten families could lose their home. Uptake of this additional coverage in multirisk home insurance is low, mainly due to the added cost of the premium, which leaves a significant portion of the housing stock exposed to substantial losses.
The association notes that, by law, only fire coverage is mandatory in buildings with horizontal property ownership. Coverage for seismic phenomena is optional and, in many cases, excluded or contracted with reduced sums insured and limits. Thus, even consumers who hold multirisk insurance may not be protected against damage caused by an earthquake.
As for increasingly frequent and intense climatic risks, such as storms and floods, DECO PROteste considers that purchasing appropriate insurance and knowing the terms are essential tools for the financial protection of families.
For this reason, the organization has been advocating for several years for the creation of a national fund for natural disasters, including seismic risk, which would allow risk sharing among the various actors, widening the protection base and ensuring greater financial accessibility for families. A mechanism of this kind, with participation of the State and the insurance sector, would help strengthen collective resilience and ensure a faster and more structured response in case of a large-scale catastrophe.
In a context where consumers have faced not only with seismic risk but also with increasingly frequent extreme weather phenomena such as recent storms and floods, the need for a structural solution is even more evident. The response to severe weather has shown that individual protection, based solely on voluntary insurance coverage, is not sufficient to guarantee comprehensive coverage for the population.
DECO PROteste recommends that consumers review their multirrisk home insurance policies and confirm whether they have coverage for seismic phenomena. It also suggests verifying whether damages caused by storms, floods and landslides are covered and confirming the respective limits, deductibles and exclusions. In case of damages caused by earthquakes or severe weather, it is essential to report the claim within the maximum deadline fixed by the insurer (usually eight days) and to gather evidence of the losses before carrying out cleaning or repairs.
Today’s tremor should serve as a warning. DECO PROteste believes that “this is the moment to urgently resume the debate on the creation of a national fund for natural catastrophes, including seismic risk, and to move forward with concrete solutions that guarantee greater financial security for Portuguese families.”
In case of doubt, consumers can contact DECO PROteste’s support line at 211 215 656, available on weekdays, from 9 a.m. to 6 p.m.
