The Consortium will cover all insured vehicles in the event of major catastrophes

The year begins with good news announced for July. The Spanish Ministry of Economy will extend the Insurance Compensation Consortium’s indemnities to all insured vehicles, in the event of floods or earthquake. Until now it only covered drivers with a comprehensive insurance policy.

Vehicles often get damaged when there is torrential rainfall, flooding, hailstorms, rainstorms or seismic activity.

As indicative data, in the third quarter of 2015 the Consortium spent between 11 and 13 million euros in compensation for 3,135 accidents caused by torrential rain that fell in the south of Spain and the Balearic Islands from 3 to 9 September.