273,000 drivers switch mandatory vehicle insurance providers

Automotive

Out of 2.2 million Hungarian motorists eligible to switch their providers of mandatory vehicle insurance, approximately 273,000 decided to change insurance providers, Hungarian Insurers Association (MABISZ) said today.

Hungarians who bought their vehicles after the beginning of 2010 are eligible to switch mandatory insurance providers any time after 12 months have passed, while motorists who purchased their vehicles before 2010 can only switch insurance providers at the end of any calendar year.

Hungary has approximately 4.2 million vehicles that are required by law to be covered by a mandatory policy; 2.7 million of these vehicles are privately owned.

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