Storm surge hikes homeowner insurance

Due to numerous damages from last year’s storm surges across the country, the storm surge scheme, which covers such disasters, is now drained and needs increased contributions to continue as a safety net for Danish homeowners. The yearly levy will rise from 30 to 50 kroner starting next year. Poul Jensen of Naturskaderådet, which administers the scheme, suggests the fee is likely to be raised from January 1, 2025. An act from the Finance Committee allows Naturskaderådet to borrow up to a billion kroner for reported damages. This is not the first increase; a previous raise occurred in 2014 after storm Bodil. There have been 3,423 claims from last October’s storm surge, with 1,324 rejected and 1,143 homeowners either compensated or informed of pending payment. 956 cases are still being processed.