01/10/2021

Who pays for the damages of the volcano in the Canary Islands?

The Insurance Compensation Consortium (CCS) will assume directly with its own means the management and payment of compensation requests that are received either through its website www.consorseguros.es or through the free call centre 900 222 665. Our brokerage also always processes requests directly from our clients before this body to speed up compensation as much as possible.

Important! It is mandatory to have contracted insurance and be up to date with payment.

What does the Consortium (CCS) compensate?

Damages to insured persons, if any. It will also compensate damage to the insured property, whether it is a residence or a homeowner’s association; motor vehicles; office premises; commercial and service establishments and other properties for non-industrial use, industries, and civil works and infrastructure, whether all the aforementioned assets are privately or publicly owned.

The Consortium will compensate in accordance with the insured capital and the clauses of the affected party’s insurance contract. That is why it is so important that the insurance is made properly and that there is no underinsurance.

CCS compensates both the material damage caused by the eruption and the lava and other materials, as well as the non-material damages that are a consequence of those, such as the loss of rentals of property owners, the second accommodation expenses derived from the uninhabitability of the housing, or loss of income due to the stoppage of commercial, service or industrial establishments, all in the manner provided for in the affected person’s insurance contract.

According to experts, the eruption will last for months and will continue to cause a lot of damage and economic loss. Therefore, insurance is an indispensable part of our life. It is an invisible buffer that protects every step we take in our life, even if we do not realise it.

 

Our Brokerage’s Heart Stands With La Palma.