Romanians estimate they would struggle to recover from a loss of 50,000 lei: 33% would need more than five years

Most Romanians would face long-term financial difficulties if their home required repairs worth 50,000 lei, according to a sociological study conducted by IRES at the request of UNSAR. According to the research, 33% of respondents estimate that it would take them more than five years to recover financially, while 39% believe the recovery would take between one and five years. Overall, 72% of Romanians believe they would need at least a year to overcome such a loss.

The amount analyzed represents the average compensation paid last year by UNSAR member insurance companies for damage caused by fires to insured homes. The costs are not limited to repairs: restoring the home and replacing destroyed belongings can deplete savings, require families to take out loans and delay important plans.

Alexandru Ciuncan, president and CEO of UNSAR, stressed that an incident lasting only a few moments can affect a family’s budget for years. Alina Bărbulescu, a UNSAR representative, said that optional insurance policies can provide support for restoring the home. They complement the mandatory PAD policy and may cover, depending on the contract, damage caused by fires, explosions, storms, natural disasters or failures of water installations.