Annual compulsory vehicle insurance premiums down 0.4%

Automotive

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Hungarian motorists' annual compulsory vehicle insurance premiums inched down 0.4% year-on-year in the first quarter on a steep drop in the capital, according to a report released by the National Bank of Hungary (MNB) on its website.

The average annual premium on compulsory vehicle insurance policies nationwide reached HUF 46,484.

In Budapest, the average premium fell 5% to HUF 66,318, while the average premium rose 3% to HUF 43,030 in the rest of the country.

The index does not include passenger cars in corporate fleets or those used for specific purposes, such as taxis; the MNB calculates these premiums separately.

Corporate fleet operators paid a HUF 49,862 premium per passenger car in Q1, up 3% from the same period a year earlier.

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