Wildfire risk and insurance considerations for homes in Greece and Southern EEA

Fidentia Insurance works with clients who have property interests in both the UK and overseas, including Greece and other parts of the Southern European Economic Area (EEA). This overview is intended to provide general, non-personalised information on wildfire risk and how it may relate to property insurance in these regions.

A changing risk landscape

In recent years, parts of Greece and the Southern EEA have experienced more frequent and severe wildfires, associated with factors such as extended periods of high temperatures, dry conditions, and seasonal winds.

As a result, wildfire exposure in some areas may be evolving. Locations that were historically considered lower risk may now be subject to different risk assessments. These developments may be taken into account by insurers when considering property insurance, although approaches can vary between providers and over time.

Insurance availability, terms, and pricing are not uniform and depend on a range of factors. Outcomes may differ significantly based on property-specific characteristics, insurer criteria, and wider market conditions.

 

Fire cover within property insurance

Property insurance policies in Greece commonly include cover for fire-related damage. This may extend to:

• Structural damage to the building


• Contents and personal belongings


• Certain additional costs, such as temporary accommodation if a property becomes uninhabitable

However, policy scope, limits, exclusions, and conditions can vary. In areas assessed as having higher wildfire exposure, policies may include different terms or restrictions. The presence and extent of wildfire cover cannot be assumed and should be understood in the context of the specific policy wording.

 

Policy terms and sums insured

Insurance documentation typically sets out the details of cover, including:

• Whether wildfire damage is explicitly included


• Applicable excesses or deductibles


• Limits for external structures or features

Rebuild costs may fluctuate over time, particularly following widespread events that affect supply chains and labour availability. If sums insured do not reflect current rebuild costs, this may affect claim outcomes. The adequacy of cover is dependent on individual circumstances and policy terms.

 

Property characteristics and risk considerations

Insurers may consider a range of factors when assessing properties, including location, construction type, maintenance, and surrounding environment. These considerations may influence underwriting decisions, although criteria differ between insurers.

In some cases, reference is made to concepts such as “defensible space,” which relates to the management of vegetation and materials around a property. Maintenance practices and building materials may also be considered as part of broader risk assessments.

It should be noted that the presence or absence of specific features does not guarantee any particular insurance outcome.

 

Broader resilience considerations

Measures relating to property design, maintenance, and emergency preparedness are sometimes discussed in the context of wildfire resilience. Examples may include building materials, external upkeep, and access to water sources.

Such measures may contribute to overall property resilience in certain scenarios. However, their impact on insurance terms, pricing, or availability will vary and is not assured.

 

Wider developments

Insurance markets and regulatory environments continue to evolve. In Greece, for example, there have been government initiatives linked to property insurance, including tax-related measures such as ENFIA adjustments. Future changes may alter the broader landscape in which property insurance operates.

Insurers may also use increasingly detailed data and modelling techniques when assessing risk. These developments reflect wider changes across multiple regions exposed to natural hazards.

 

 General considerations for overseas property owners

For individuals with property in Greece or the Southern EEA, wildfire risk may be one of several factors relevant to property ownership and insurance. Insurance is one component of financial protection, and its role, scope, and effectiveness depend on specific policy terms and individual circumstances.

This article is intended as general information only and does not constitute advice or a recommendation. Insurance needs and outcomes vary, and no assumptions should be made regarding the availability, cost, or scope of cover.

 

Further information

If you would like to obtain information specific to your circumstances, you may wish to contact a qualified insurance professional.

Fidentia Insurance can provide further general information on request.