Mandatory housing insurance covers nearly one third of properties in Kyrgyzstan
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The State Insurance Organization (GSO) in Kyrgyzstan reported that mandatory insurance now covers 28.6 percent of residential properties in the country.
The agency issued approximately 358,000 contracts last year to provide coverage for these homes. Officials expect this coverage rate to rise to 31.7 percent by 2026. Since the start of the current year, the organization has processed 315 insurance payouts. These payments have totaled more than 60 million soms to compensate for property damage.
The cost of the mandatory insurance varies based on the location of the property. Homeowners pay 1,200 soms per year for urban properties and 600 soms for rural housing. The payout limits depend on the property type as well, with a maximum of 1 million soms available for urban apartments and 500,000 soms for rural houses. Actual compensation amounts are determined by the specific level of damage incurred.
