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Average HUF 56,400 Compulsory Vehicle Insurance Premium in Q1

Automotive

Hungarian auto owners paid almost HUF 56,400, on average, for their annual compulsory vehicle insurance premiums in the first quarter, 11% more than in the same period a year earlier, according to a report published by the National Bank of Hungary (MNB) on its website this week.

Motorists in Budapest paid higher premiums: an average of HUF 79,800, up 7%.

The average premium for individual policies covering taxis rose 15% to HUF 157,400, while the premium for trucks climbed 5% to HUF 92,400. The average premium for fleet passenger cars increased by 10% to HUF 71,000.

There were about 4,163,500 compulsory vehicle insurance policies in Hungary in Q1. The MNB noted that payouts on mandatory vehicle insurance policy claims had increased by 8% during the period

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