The average annual premium of compulsory insurance may increase by up to twenty percent

compulsory insurance; price increase; Russian-Ukrainian war; extra profit;

2022-08-19 22:43:00

The significant price increase can be attributed to several factors.

According to Péter Németh, sales director of CLB Független Biztosítási Alkusz Kft., the annual average premium of compulsory insurance may jump by 15-20 percent, over HUF 50,000, by the end of the year. This development is considered a turning point, because previously tariffs were reduced for months as a result of the coronavirus epidemic, as fewer people used their cars in the first place – reported RTL News.

Referring to, the channel stated that in the first half of this year there were already 10.2 percent more accidents compared to last year. At the same time, the cost of insurance companies is also increasing, as parts have become more expensive by 16.5 percent in a single year and repair fees have also increased by 16.4 percent, according to KSH data. Dániel Pataki, the brand director of Gablini Autosalonok, recalled that the shortage of raw materials that developed as a result of the Russian-Ukrainian war affected many products, which are also necessary for the production of parts.

The special extra-profit taxes levied on insurance companies also contributed to the significant increase in the price of compulsory insurance. It is expected that those who have caused some damage in the past year will have to pay the most.

Source: Népszava by

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