Steps needed to promote home insurance, says parlt speaker

Seimas Speaker Viktorija Čmilytė-Nielsen calls for a debate to promote home insurance among owners as Lithuanians continue to estimate losses due to power outages and property damage following Monday’s storm.

„Home insurance is very important in cases of recurring events like this. In Lithuania, a relatively small proportion of people have home insurance. Unfortunately, in cases such as this or previous ones, it is the most socially vulnerable people and their homes who are affected the most,“ she told Žinių radijas on Wednesday morning.

The parliamentary speaker also said she sees no need to oblige residents to insure their homes or property. Politicians should start discussing tools to encourage residents to insure their first homes, according to Čmilytė-Nielsen. Tax benefits could also be considered, she suggested.