Regulator recommends checking coverage and storing evidence for damage

Portugal will be affected today by depression Charles and consumers suffering damage to the house or vehicle should check insurance coverage and retain evidence, according to the Insurance and Pension Fund Supervisory Authority.

According to a guide prepared by ASF during storm Kristin, it is important to take into account that even with multi-risk housing insurance, the coverage of nature phenomena, storms, floods, and other similar, are not mandatory, although coverage of those risks is frequent.

“ It should confirm that those covers are included in your policy, which damages cover and which situations are excluded”, recommended the regulator.

In order to participate in a claim, you should have all the information important for the analysis and evaluation of the losses, and you should keep “all the evidence that is possible to collect”, such as photographs, videos, invoices, to identify the damage and support the determination of its value, the ASF indicated.

The claim must be reported within the time limit laid down in the contract, and if it does not indicate a time limit, it must be reported within eight days. Still, “if you do not meet this deadline, because you are proven to be prevented from doing so, this cannot lead to loss or reduction of coverage of your contract,” the regulator assured.

In the event of damage to the vehicle, car insurance coverage should also be checked and, unlike multi-risk housing insurance, coverage related to nature phenomena is not usually part of the basic coverage.

“You will thus have to confirm that your policy includes coverage of nature phenomena and what damage they cover,” ASF warned.

Continental Portugal is on alert between 00:00 and 23:59 Wednesday, due to the possible worsening of the state of time with the arrival of depression Charles, it is expected that Lisbon, Leiria, Setúbal, Beja and Faro will be the most affected regions.

The government has decided to close non-essential schools and public services in all districts, and the authorities have admitted to closing bridges and air traffic restrictions.

According to the Portuguese Institute of the Sea and Atmosphere (IPMA), “the occurrence of heavy rain or shower periods, strong wind, with gusts that can reach 120 kilometers/hour and, in case of formation of the phenomenon ‘sting jet’ (air current that quickly descends inside an extratropical depression, accelerating towards the surface), exceed 150 kilometers/hour”.

Red weather warnings (the maximum level) were issued for the continent and also for Madeira.