Common home insurance premiums are rising – BBJ – Budapest Enterprise Journal

Nicholas Pongratz

Friday, August 13, 2021, 10:05 am

Residential

Image from Shutterstock.com

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.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism worthy of the name is an expensive business. For 27 years, the editors, editors and reporters of the Budapest Business Journal have strived to bring you business news that works, information you can trust, that is factual, accurate, and presented without fear or favor.

Newspaper companies around the world have struggled to find a business model that will allow them to continue to perform well without compromising their performance. Recently, some have been experimenting with the idea of ​​engaging their key stakeholders, their readers.

We would like to offer our readers this opportunity as well. We'd like to invite you to help us deliver the high quality business journalism you need. Click on our Support the BBJ button and you can choose how much and how often to send us your posts.

Comments are closed.