Common home insurance premiums are rising – BBJ – Budapest Enterprise Journal
Friday, August 13, 2021, 10:05 am
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Average home insurance premiums are rising slowly but steadily due to the steep rise in property reconstruction costs, Anett Cseh, product development manager at Netrisk.hu, told business newspaper Világgazdaság.
She explained that the sharp rise in prices was due to the sharp rise in labor costs and building material prices, which will continue to put average prices under pressure in the coming period.
The current premium moving item is storm damage, and Nándor Szurgyi, head of Aegon's home insurance business, told vg.hu that far more storms caused more damage this summer than before, increasing claims payments by billions of forints.
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