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Hungary: Casco prices expected to drop

After obligatory car insurances, the price of casco policies will likely decrease as well, which will allow and insurers to rally new clients, according to the market analysis of Insurance Broker Kft, published on the Biztositas.hu website.

Insurance companies registered Ft 102 billion in revenues, and approximately Ft 40 billion profits from casco insurances in 2006, according to data published by the Association of Hungarian Insurance Companies.

The analysis expects a decrease in casco prices soon, as presently the differences on the market are huge: full casco for an Opel Astra may cost Ft 130,000 to Ft 240,000.

The number of casco contracts (presently: 850,000) is expected to increase with the appearance of partial casco products. These may cover only theft or theft and collision damage for 30% to 70% of a full casco’s price. (Gazdasági Rádió)