In recent years, the protection of the home has ceased to be viewed merely as a standard insurance requirement. The increase in natural hazards, the financial pressure on households and the growing need for more responsible asset management have substantially changed the way people perceive fire insurance.

Within this new environment, the recent tax change introduces an additional, decisive factor: the possibility of tax relief for residential insurance premiums against risks such as fire.

Home insurance is no longer linked solely to the restoration of a potential loss. It is now also connected with a direct financial benefit for the taxpayer.

The tax relief of up to €500 for eligible insurance premiums creates a new and particularly strong incentive for homeowners to proceed in a timely manner with the insurance of their property.

In simple words, the homeowner does not insure only the house. At the same time, they invest in reducing their tax burden.

This change reflects a fundamental change in philosophy. The State now actively rewards prevention and proper risk management, recognising that home insurance constitutes a key pillar of economic and social resilience.

For the homeowner, the message is clear: protecting the most important lifetime investment, his home, is not only a matter of security, but also a sound financial decision.

Especially at a time when the cost of living is rising and household budgets are under pressure, the ability to combine protection with tax benefit becomes particularly valuable. Fire insurance is no longer perceived as just another expense, but as a tool for protection and financial efficiency.

At the same time, this new reality creates a renewed framework of awareness and responsibility. Policyholders should understand that tax relief does not replace the need for proper and adequate insurance cover. On the contrary, it further highlights the importance of selecting appropriate covers, so that the policy genuinely responds to the real risks facing the home.

Within the new tax framework, fire insurance acquires a dual role: it protects property and, at the same time, enhances the insured’s tax position.

It is precisely this dual value that makes the difference: insurance protection on one side and financial benefit from the other! That makes fire insurance today one of the most timely and meaningful prevention tools for every modern household

Minerva Insurance as a trusted partner for meaningful protection and tax benefit

Within the new environment shaped by home insurance and tax relief, Minerva Insurance offers practical, flexible and comprehensive solutions that address both the modern protection needs of property owners and the opportunity to benefit from the applicable tax incentive.

Through modern insurance products and multiple options for structuring cover, Minerva can become a stable and reliable partner for every homeowner seeking genuine protection, comprehensive risk cover and, at the same time, the effective utilization of the new tax framework.

Flexible home protection with the miplace and miplace Express plans

The miplace and miplace Express home insurance policies, provide comprehensive cover for both the building and the contents of the home, protecting against a wide range of risks that may cause serious damage or loss to the insured property.

The philosophy of these plans is based on the real needs of today’s homeowner, who requires meaningful and adequate protection rather than a basic or purely standard level of cover.

The policies are offered in three different plan levels, allowing the insured to select the package that best reflects the characteristics and requirements of their home. At the same time, a range of optional additional covers is available, enabling each policyholder to tailor the policy to their individual needs and expectations.

In this way, insurance is no longer generic or impersonal, but is structured around the actual value of the property, the contents and the lifestyle of the insured.

Furthermore, the miplace and miplace Express plans can serve as an appropriate insurance solution for individuals wishing to take advantage of the new tax relief applicable to residential insurance against specified risks, thereby enhancing the overall value of their insurance decision — both in terms of protection and tax benefit.

A comprehensive solution for jointly owned buildings with the micomplex policy

Particular importance is also placed on the micomplex policy, which provides fire and special perils insurance for Management Committees of jointly owned buildings, apartment blocks and residential complexes.

micomplex is not addressed solely to Management Committees. It also concerns owners of private units, such as apartments, houses, offices and shops, which form part of a jointly owned building.

In accordance with applicable legislation, every Management Committee of a jointly owned building is required to maintain insurance for the building against fire and other risks, based on replacement value. micomplex fully addresses this statutory obligation, while at the same time offering the possibility of comprehensive insurance cover for the jointly owned property, the common areas and the privately owned units.

In addition, the policy provides cover for the personal liability of the members of the Management Committee in their capacity as committee members, a particularly important feature for the modern management of apartment buildings and residential complexes.

In this way, a unified and coherent framework of protection is achieved, extending beyond the insurance of the building itself to include the management of responsibilities and obligations arising from the operation of a jointly owned property.

Insurance that delivers dual value

Within the new tax environment, Minerva’s fire and home insurance policies assume an additional and highly significant role.

They do not only provide protection against serious risks, but also allow the insured to claim the relevant tax benefit provided by law, subject to the applicable conditions being met.

The selection of a properly structured insurance policy is no longer merely an act of precaution. It becomes a strategic financial decision that combines:

• protection of property,
• compliance with the statutory obligations applicable to jointly owned buildings, and
• the utilization of the available tax relief for residential insurance.

At a time of increasing risks and growing financial pressures, Minerva Insurance offers appropriate insurance solutions to ensure that the protection of property — whether private or jointly owned — is meaningful, tailored to real needs and aligned with the new tax opportunities.

As a result, fire and home insurance today represents not only protection against potential loss, but a broader approach to the responsible and effective management of property and personal finances.

Tonia Despoti
Product Development & Training Manager