Storm damages may rise to millions of euros

The Federation of Finnish Financial Services (FFI) is currently estimating the economic damage caused by the storm that hit Finland on Boxing Day Monday. Past storms have brought damages of tens of millions of euros. Several insurances compensate for such damages.

Image: YLE / Arja Lento

27.12.2011 17:47Updated 28.12.2011 5:44

According to FFI estimates, Boxing Day storm damages may rise to about ten million euros, or even slightly above this.

In comparison, the 2001 winter storm Janika brought damages totalling 20 million euros, the Federation states.

A storm that raged in summertime a year and a half ago led to compensations of about 50 million euros.

Home insurances cover damages to buildings and goods. They also cover costs of clearing fallen trees, if these pose a risk of causing more damages.

Frozen goods that have been spoiled due to power cuts are covered by an extensive home insurance plan.

Only about 30 percent of forest owners have a forest insurance that covers forest damage. Damages caused by a storm to car or boats are covered by extensive car and boat insurances respectively.