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Travel insurance costs still concern Hungarian holidaymakers

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While 77% of Hungarians are planning to go for a summer holiday this year and 74% say they will pay for travel insurance, 40% decide which insurance to choose based on price, a representative survey by insurer Genertel reveals, according to a press release sent to the Budapest Business Journal.

The number of Hungarians who cannot afford to go on holiday appears to have decreased sharply this year, as only 23% of respondents said they are not traveling for their holidays this year, compared to 49% who stayed at home in 2016, and 50% in 2015, according to data from Genertel based on its survey of a representative sample of 1,000.

Compared to last year’s 73%, this year 74% of respondents said they always pay for travel insurance. Additionally, this year only 8% said they never pay for such insurance, compared to last year’s 19%.

Genertel notes that the Hungarian market is still very price-sensitive, as 40% of respondents said they decide which insurance to buy based on the prices on offer. Half of the respondents said they do not know that car assistance can be part of the package, while one third were unaware that luggage insurance can also be included. Furthermore, 45% said they do not know whether their package includes medical and emergency costs.

Some 47% of respondents said they opt for travel insurance over the internet, which is 7% more than a year ago.

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