At least one in five homes in Greece now has an insurance policy, with the market set to see another strong surge in 2025. Despite significant progress, the so-called “protection gap” remains enormous, as nearly 80% of homes still lack insurance coverage against natural disasters and other risks.
According to a new survey by the Hellenic Association of Insurance Companies (EAEE), the number of home insurance policies reached 1.355 million by the end of 2025, an increase of 8.7% compared to 2024 and approximately 17% compared to 2023 levels.
This trend raised the home insurance coverage rate to 20.5% from 18.9% a year earlier and just 17.6% at the end of 2023. Despite the upward trend, however, approximately four out of five homes in the country remain uninsured.
The push from natural disasters and tax incentives
The steady increase in extreme weather events, the devastating floods and wildfires of recent years, as well as the tax incentives introduced for insured homes, appear to be gradually boosting the penetration of private insurance.
It is indicative that the number of homes insured simultaneously for earthquakes and weather events surged to 846,620, recording an annual increase of 27.8%. They now account for 71.5% of all building insurance policies, compared to 62.2% in 2024.
In contrast, policies providing only earthquake coverage have been steadily declining (-26.2% over the past two years), while policies covering only weather events decreased by 2% in 2025. The trend indicates that policyholders are turning to more comprehensive protection packages.
87% of policies cover the building itself
Of the total 1.355 million policies, 1.184 million cover building insurance, either exclusively or in combination with home contents. This represents an 11.1% increase year-over-year. In contrast, policies covering only home contents decreased by 5.7%.
This trend means that 87.4% of insured homes have coverage for the property itself, an increase from 85.5% in 2024.
More than half of insured homes have a mortgage
The survey also highlights the decisive role of banks in the market’s growth. Of the policies covering buildings, 691,993 are linked to mortgage interest, i.e., to home loans. This number increased by 10.5% over the course of a year and accounts for 58.4% of all insured homes with building coverage.
This figure indicates that a significant portion of insurance penetration continues to stem from obligations linked to bank financing and not exclusively from the voluntary choice of homeowners.
Attica accounts for nearly half of all policies
Geographically, Attica remains the market’s driving force, accounting for 622,305 insurance policies, or 45.9% of the national total. Central Macedonia follows with 196,452 policies and a 14.5% share.
Insurance penetration varies significantly across regions. Attica has the highest insurance coverage rate at 28.8%, significantly higher than the national average of 20.5%. In contrast, the lowest rates are recorded in the North Aegean (12.8%), Western Macedonia (13.2%), and Epirus (13.9%).
* See the report in the Related Materials section.