Casco insurance sales stay steady at 21% in 2014

Automotive

Despite both sales of new and used cars jumping by 10% and 20%, respectively, in Hungary last year, the number of vehicle owners opting for casco voluntary vehicle insurance remained at around 21%, the online insurer of General Group genertel.hu reported on Friday based on its own survey of the market.

Some 491,926 used cars and 67,000 new cars were sold last year, yet the number of casco insurance holders has stayed around 812,000 for the last couple of years, which means approximately 21% of the 3.8 million registered cars are insured as such in Hungary, the survey notes. It added that approximately 90% of vehicle owners choose to have casco insurance based on the price.

Casco insurance compensates for all damages or losses to a vehicle caused by the owner of the vehicle during a sudden and unforeseeable event, as well as for losses caused by a third party.

ADVERTISEMENT

GKI raises 2022 GDP growth forecast  Analysis

GKI raises 2022 GDP growth forecast 

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest City Council to take out HUF 32 bln development loa... City

Budapest City Council to take out HUF 32 bln development loa...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.