40% increase in the cost of fire and theft insurance in Belgium
Share article:
Share article:

40% increase in the cost of fire and theft insurance in Belgium

Fire insurance has seen a drastic rise in cost the past 10 years. Credit: Wikipedia

The cost to the consumer for certain insurance policies has increased by over 40% in the last 10 years, exceeding the rate of inflation, according to data released by SPF Economie.

The rise reached an average of 19.8% between May 2009 and May 2019, according to the report. Over the same period, fire and theft insurance costs have soared by an average of 42.8%, the biggest hike in prices recorded.

“Fire insurance premiums are linked to the Abex index. This measures the trend in costs such as salaries in the construction sector but also covers materials. The high level of activity in the construction industry has led to shortages of certain materials, which ups prices,” Assuralia, the professional union of insurance companies, explained.

Travel insurance premiums have risen by 32.6%, and health insurance by 41%. Car insurance has changed very little in comparison, increasing by only 1.5%.

The Brussels Times

Latest news

Aggression against railway staff more than doubled since 2020
In the first three quarters of 2021, the number of reports of aggression against national railway company SNCB's staff has more than doubled compared ...
Intervention hotline 1722 activated following bad weather warnings
Following bad weather warnings from Belgium's Royal Meteorological Institute of Belgium (RMI), the Federal Public Service (FPS) Home Affairs has ...
Thousands march in Brussels to raise awareness of violence against women
More than 3,000 people took to the streets of Brussels on Sunday afternoon for a national march to raise awareness of violence against women in ...
Efficacy of vaccines against new variant known in a few weeks, virologist says
The efficacy of the current coronavirus vaccines against the new Omicron variant will be clear in one to two weeks, Belgian virologist Marc Van Ranst ...
Scientists could have communicated better during pandemic, survey shows
The majority of Flemish people continue to trust scientists, however, only half of them feel scientists communicated understandably during the ...
Closing borders and new travel restrictions: Countries react to Omicron variant
As more cases of the new Omicron variant of the coronavirus are being reported across the world, more and more countries are imposing tougher travel ...
Several rush hour train services to be scrapped from Monday
Up to ten peak time trains to and from Brussels will be temporarily cancelled starting from Monday, Belgian railway company SNCB announced this ...
Europe’s largest vintage clothes store is in Ghent this weekend
Europe's largest pop-up store for second-hand clothes is once again setting up shop in Ghent on Sunday, offering more than five tonnes of vintage ...
Animal welfare in EU’s pig meat sector: What’s wrong?
EU has put into place legislation to ensure that animal welfare conditions are respected in its agricultural policy but the breaches of its ...
‘Not feasible’: Doctors refuse to follow new testing strategy
Doctors have warned they will not follow the government's adapted testing strategy which would see vaccinated people who were in close contact with a ...
Flanders introduces ‘invisible’ speed cameras
New digital speed cameras that are essentially invisible to the road user are being introduced on various roads and motorways in Flanders, Flemish ...
Warnings issued for slippery roads across Belgium
Drivers have been asked to watch out for slippery roads from Saturday afternoon until Sunday evening, as snow and cold temperatures are expected ...