Insurers pay 5,000 million in 2022 for damage to insured property, according to Unespa

The figure is equivalent to 12.

Insurers pay 5,000 million in 2022 for damage to insured property, according to Unespa

The figure is equivalent to 12.8 million euros per day, with the leak as the clear protagonist with 4.2 million attentions for water damage


Insurers paid 4,983 million euros in 2022 to deal with the 10.3 million mishaps suffered by their clients' assets, as reflected in the report 'Property mishaps in Spain. Data 2022' prepared by 'We are Safe', the Unespa initiative.

The insurers' employers reflect in their study that among these incidents that should have been insured were damage from leaks, fires, atmospheric phenomena, theft and glass breakage.

The amount to cover these mishaps was equivalent to a daily outlay of 12.8 million euros.

The study also indicates that property insurance has experienced significant growth in recent decades and has more than doubled, in the last 20 years, the value of compensation and services transferred to individual customers and companies that suffer mishaps.

Of the total number of incidents registered in 2022, the leak was "the clear protagonist", warns Unespa. There were 4.2 million attentions for water damage in Spain. The places where they occurred the most were mainly in homes, communities of owners and businesses.

These incidents were followed by glass breaks, with 1.4 million attentions, and assistance services, with another 1.2 million mishaps.

In volume of payments, the leak generated the largest disbursement by property insurance with 4.8 million euros per day, followed by fires (2.3 million) and atmospheric phenomena (1.3 million).

The report breaks down the property insurance information related to mishaps in homes, businesses, communities of owners and industries. Home insurance, which extends to 80% of homes in Spain, assumed 8.1 million mishaps in 2022 and disbursed 7.6 million euros every day.

The leak was again the main cause with three million mishaps in insured homes in 2022, followed by glass breakage, with 1.2 million mishaps, and assistance services, with 1.1 million attentions in the year.

Water damages are also the mishaps that demanded the most money, since they entailed the daily payment of about 3.4 million euros by the insurance, followed by mishaps derived from fires, with 724,728 euros per day, and atmospheric phenomena, with daily payments of 691,728 euros.

By provinces, mishaps in homes occurred to a greater extent in the most populated areas: Madrid, Barcelona, ​​Valencia, Seville and Alicante.

For their part, insured businesses suffered more than 465,948 mishaps in 2022, although 81% of businesses did not suffer any mishaps during the year, the report indicates.

Leaks were also the most frequent mishap among commercial establishments, with 158,768 per year and a daily cost of 255,215 euros for insurance.

Thefts appear as the fourth most frequent risk (after leaks, glass breaks and electrical damage) and the second most expensive, demanding payment by the insurance company of 132,895 euros per day as compensation.

The greatest number of mishaps in shops occurred in the provinces of Madrid, Barcelona, ​​Valencia, Alicante and Malaga.

Regarding the insured communities of owners, the Unespa study indicates that 1.4 million mishaps were recorded in 2022. Most of them were due to leaks or problems, in general, with downspouts and water pipes.

Specifically, there were 917,341 cases in the year, with daily payments of 960,140 euros by insurers.

Most of the claims were registered in Madrid, Barcelona, ​​Valencia, Alicante, and Malaga.

Finally, the available data for the year 2022 suggest that industrial multi-risk clients suffered 282,574 mishaps.

Once again, water damage was the most frequent mishap, with 67,922 leaks in the year, although it was not the most expensive, since the more than 9,900 fires caused costs of 1.2 million euros per day in industries.