Thousands of individuals who have purchased homeowners’ insurance in Greece in hopes of getting a 10% reduction on their annual property taxes (ENFIA), which is an incentive announced by the Greek government to help close the country’s insurance gap against natural disasters, will miss out because they have not read the “fine print.”
In order to be eligible for the program, homeowners must file the relevant application on the Greek government’s myPROPERTY by February 22, 2024.
The biggest issue, according to reports at OT.gr, is the fact that owners have obtained insurance coverage for earthquakes and fires but not for floods. In many cases this is due to the fact that apartments located on the upper floors of apartment buildings are considered at very low risk for flooding and therefore have not obtained coverage.
Homeowners may also be excluded from the 10% discount because they have not met the minimum limit of total insured value of main-auxiliary spaces, or they did not follow all procedures for the filing of jointly owned properties. Reports at OT.gr reveal a host of other technical and procedural issues that filers may encounter while uploading contracts.
In an effort to facilitate homeowners in interpreting the fine print of the program, the Hellenic Property Federation (POMIDA) has released a guide, in Greek, which highlights the key points homeowners and applicants should not miss.
Earlier this month the Association of Insurance Companies of Greece (EAEE) released figures showing that only 17% of homes are insured and that more than half of the existing insurance contracts are connected to mortgage insurance.
Source: tovima.com
Latest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.