Home insurance in Albania remains a relatively uncommon practice, reflecting a weak insurance culture among citizens. Recent data shows that out of over 1 million homes according to the 2023 census, only about 6% are insured against fire and other risks. For most families, insurance is not considered a necessity but an avoidable cost until they face real consequences from unexpected disasters. The fire in the apartment building that burned over 70 homes near hospitals in the capital highlighted that many of them were uninsured, while only a small number were insured as a bank requirement from purchasing with loans. "The insurance culture in Albania is very faint. Very few citizens insure their homes, and in most cases, it happens as an obligation from the bank. Even in the building that was burned by flames, no apartment was insured except for those purchased with loans. We are very behind with insurance compared to the region or Europe, as the percentage is many times higher," declared Venera Xhillari, an insurance market expert. Insuring a home has an annual cost which, based on the property's value, averages between 150 euros and 200 euros per year, and the type of insurance varies. "Let's clarify that people misunderstand; insuring a home includes the home as a property but not the equipment inside. Therefore, there are several types of insurance. In such cases, there is another insurance for household appliances, a value that does not add much to the annual insurance value of the home. In this case, citizens benefit from a commitment from insurance companies that will replace the appliances according to the value previously assessed by field inspectors when the insurance was made and reconstruction in case of home damage." Artur Ribaj, a banking expert and former director of the supervision department at AMF, explains what happens in the case of a home purchased with a loan and insured being completely or partially burned. "When a home is purchased with a loan and burns completely, in this case, the insurance company is responsible for covering the consequences as much as the home is insured. This value is returned to the owner, who must also cover the collateral to the bank. In case of partial burning of household materials inside the home, the company replaces them through insurance not in cash form but with household appliances. Therefore, home insurance is also necessary so that in such cases, the company responds to you with the predetermined value." While the market for home insurance in Albania against fire or natural causes is far from the values of the region and Europe, the government is still in the public consultation phase for the draft law on compulsory home insurance against natural disasters. Which is expected to include only earthquakes and partially floods.