Compulsory auto insurance prices plunge in Hungary

The price of compulsory auto insurance has dropped dramatically this year, falling by as much as it did over the past three years in total, according to insurance portal biztositas.hu.

As drivers in Hungary enter the window during which they can switch insurance carriers, this year is expected to see a record number of policy-holders switching insurers, and a record amount of money saved by individuals

Yearly premiums for new clients have dropped to an average of Ft 30,500 (€121), indicating a savings of roughly Ft 24,000 (€95) for those who switch.

Aegon, Genertel and MÁV ÁEB are expected to attract the most new clients during this year's period of customer price-shopping, during which more than 700,000 policy-holders are expected to change carriers.

Meanwhile, prices for non-compulsory "Casco" insurance policies are similarly softening, in part because consumers have increasingly turned to the Internet for better deals on policies.

• Email
• Save to My Caboodle