Policyholders can switch during this month regardless of their contract anniversary. Insurers had to inform customers about the option by Feb. 15, and cancellation is possible in writing between March 1 and March 31 without stating a reason. Policies cancelled in the window typically end on April 30, with replacement contracts taking effect from May 1.
Netrisk says it expects the seasonal campaign, which usually triggers a surge in comparisons and contract changes, to play out differently this year as housing demand conditions shift and household balance sheets face higher replacement-cost risks.
The broker links part of the expected impact to stronger activity around state-backed mortgage products aimed at first-time buyers, citing in particular the Home Start Program. Where a mortgage is involved, Netrisk argues that borrowers should look beyond minimum bank requirements, warning that lender-driven cover can protect the bank’s exposure without ensuring full reinstatement of the property or replacement of household contents after a serious claim.
Hungary has more than 4.6 million registered residential properties. The latest census put the share of occupied homes at 87. Using a Central Statistical Office analysis covering Q2 2025, which put the average home price at HUF 35.5 million, Netrisk says the aggregate value of the housing stock now exceeds HUF 140 trillion.
“From this data, it’s clear that housing is the most important asset for Hungarian households, and insurance needs to track that increase in value,” said Márton Besnyő, regional chief executive responsible for Austria and Hungary at the Netrisk Group. He warned that in the case of underinsurance, compensation after a major incident may not provide enough for repairs and renovations.
Netrisk warns that many older policies were set up when rebuilding and replacement costs were far lower. Without periodic updates, insured sums can lag real-world costs. The broker urges homeowners to use the March period to realign the sums insured and to compare not only price, but coverage definitions, exclusions, deductibles and service.
Meanwhile, the latest Home Insurance Index of the National Bank of Hungary (MNB) shows that the average annual premium for owner-occupied homes with comprehensive building-and-contents cover was HUF 64,400 in Q4 2025, effectively flat quarter-on-quarter (a 0.1% decline).
Outside Budapest, the average was HUF 65,000, while in the capital, it stood at HUF 61,500. The difference is largely structural: smaller average property sizes pull down Budapest’s headline premium even if insured value per square meter is higher. The MNB puts Budapest’s average insured square meter value at around 25% above that of homes outside the capital.
On a year-on-year basis, the index estimates premiums rose by 1.8% in 2025. The bigger shift was in insured values. The average insured value per square meter rose by 11% in 2025, implying that households, on average, paid only slightly more to insure a materially higher replacement value.
The same direction appears when comparisons are standardized: using a fixed insured sum of HUF 70 mln, average premiums still showed a 7% y.o.y. decline, suggesting that like-for-like headline cover was available at a lower price than a year earlier. At the market level, modest premium growth combined with faster insured-value growth points to an improving price-to-protection ratio.
The index also underlines why March is not only about saving money. Following storm damage in July 2025, the central bank reported that the average claim amount per contract had increased by 17% compared with the previous year. Higher claim severity tends to expose weak points in policy design; sub-limits, exclusions and, most importantly, sums insured that are too low to support realistic rebuilding or replacement.
Netrisk’s pricing examples suggest premiums have edged up, although not dramatically: in Budapest it puts the annual insurance cost for an average apartment at around HUF 26,000 (up 2.5% y.o.y.), while for an average detached family house outside the capital, it cites about HUF 46,000 (up nearly 4%).
Early campaign data, it adds, show switchers saving on average HUF 18,000; one in five can achieve savings above 40%, which Netrisk translates into an average reduction of more than HUF 30,000. At the same time, around 30% of customers move to higher-priced packages, suggesting many are using the window to buy broader cover or higher-quality services rather than simply chase the lowest premium.
One benchmark for value is the MNB-certified consumer-friendly home insurance category, known as MFO (Minősített Fogyasztóbarát Otthonbiztosítás). The central bank’s data indicates that in Q4 2025, the average premium for MFO products was 19% lower than other market offers, while the service level (calculated together with claims expenditure) was 13% more favorable than non-MFO alternatives.
The MNB estimates that, of the roughly three million home-insurance contracts on occupied homes, about 2.5 million covers both building and contents.
For households, the key March checks are whether sums insured reflect current replacement values, how deductibles and sub-limits apply to common damage types, and what assistance services exist when damage happens. The central bank index suggests the market is moving toward better value for money, but Netrisk’s estimate of a housing stock highlights why getting cover right can matter more than shaving a few thousand forints off the premium.
This article was first published in the Budapest Business Journal print issue of March 13, 2026.
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