The most valuable asset of many members is their house, and its contents. It is therefore false economy not to insure them or to insure them for an amount below their true worth.

Natural disasters such as earthquakes are not unknown in Portugal and failure to insure the building itself adequately could have disastrous consequences.

Again, although loss through fire is not a common occurrence, robberies from houses even when occupied, have increased in frequency and adequate cover for content loss is also highly desirable.

The major problem, which arises when a claim for loss is made under an insurance policy, is the value, which has been placed on both the building itself and the contents. All insurance companies take an averaging approach when assessing claims and will only pay out a proposition of the real value of any item if the declared value is less than the Market or New Value.  The temptation in reduce the size of the cover and so the annual premium, must therefore be resisted if problems are to be avoided.

The best household cover provided in Portugal is the HABITAT+ policy issued by Victoria Seguros to AFPOP members. Not only are the rates highly competitive but the policy terms and conditions are considerably more extensive than available elsewhere or to non-members.

COVER FOR BUILDINGS

The cover offered by Victoria Seguros to AFPOP members includes all the standard risks such as damage due to fire, lighting, storm, flood and earthquake but a number of other events as well. Full details are set out in the HABITAT+ booklet produced by Victoria Seguros in both Portuguese and English. Copies are available from the Association's brokers, Medal Lda.

When settling a claim, all insurance companies apply a