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22 July, 2024
 
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Cyprus announces aid package for victims of Limassol tornado

Government allocates funds for storm-damaged properties

Newsroom

In response to the recent tornado and extreme weather conditions that struck the Limassol Province on February 14, 2024, the Cyprus government has unveiled a comprehensive aid package to assist affected individuals and properties.

Following a decision by the Cabinet, the Ministry of Interior has outlined the financial assistance available to eligible recipients across various categories:

- Uninsured Properties: Owners may receive up to 80% of the estimated damage to their buildings, with a maximum of €20,000. Additionally, reimbursement will cover damages equal to the estimated value, not exceeding the insurance excess waiver, capped at €3,000.

- Owned Residential Equipment: Owners are entitled to financial aid equivalent to the estimated damage, with a maximum of €15,000. The assistance also covers damages not surpassing the insurance excess waiver, capped at €3,000.

- Rented Residential Properties: Tenants can receive support amounting to 50% of the estimated building damage, up to €15,000. Damages equal to the estimate, not exceeding the insurance excess waiver, are covered up to €3,000.

- Rented Residential Equipment: Tenants are eligible for financial assistance equivalent to the estimated equipment damage, capped at €15,000. The aid also extends to damages not exceeding the insurance excess waiver, capped at €3,000.

- Commercial Assets: Business owners may receive up to 70% of the estimated building damage, with a maximum of €30,000. Assistance for damages equal to the estimate, not exceeding the insurance excess waiver, is capped at €5,000.

- Owned Commercial Equipment: Entrepreneurs can claim financial aid equal to the estimated equipment damage, capped at €10,000. The aid also covers damages not exceeding the insurance excess waiver, capped at €5,000.

- Private Vehicles: Uninsured privately used vehicles damaged during the calamity may receive financial assistance equal to 75% of the estimated damage, up to €5,000 per vehicle. Insured vehicles will be reimbursed based on the estimate, not exceeding the insurance excess waiver, capped at €500.

- Commercial Vehicles: Uninsured commercial vehicles damaged during the event may receive financial assistance equal to 75% of the estimated damage, capped at €10,000 per vehicle. Insured vehicles will be reimbursed based on the estimate, not exceeding the insurance excess waiver, capped at €1,000.

The aid package aims to provide crucial support to individuals and businesses affected by the recent natural disasters, offering financial relief during these challenging times.

TAGS
Cyprus  |  damage  |  homes  |  cars  |  tornado  |  Limassol  |  economy

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