Insurance brokers see compulsory vehicle policy premiums rising 10%

Telco

Compulsory vehicle insurance premiums are expected to rise by around 10% this year, according to the Hungarian Association of Independent Insurance Brokers (FBAMSZ), Hungarian news agency MTI reports.

The increase is under last yearʼs 15-20% rise, FBAMSZ said.

Annual premiums for a compulsory vehicle insurance policy averaged about HUF 60,000 in the first quarter.

Traffic, as well as the number of car accidents, has dropped since curfew restrictions were introduced late in March to contain the spread of the novel coronavirus, the association noted.

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