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Hungarians homes are well insured

According to a recent international survey by direct insurer Genertel, the online insurance group of Generali, Hungary is in the midpack of European countries in terms of home insurance penetration.

71% of households have a home insurance, data of Hungarian Insurance Association (MABISZ) shows. Home insurance penetration is the highest in Germany and the Chezc Republic (more than 80%), followed by Poland (50%), Italy (25%) and Romania (barely 10%).

“Tariffs in Hungary, Italy and Spain are lower than the EU average, which can be explained with the expansion of direct insurance models,” said László Sebestyén, sales director of Genertel.

When choosing insurance, price remains the main criterion for clients. However, an increasing number of people add supplementary services to the basic insurance for extra costs. The most popular services are insurance against cash theft, robbery and burglary and a fairly new one, legal assistance for the family. “Although most of these services are currently available for a surcharge, there is a tendency for them to be built in the base tariff,” Sebestyén added.