On average, travelers take out travel insurance for more than seven days

For now, it is too early to take stock of this year’s travel season, but it is expected to be more favorable than last year, when expenses due to high inflation dampened the desire to travel.

How is the market?

Pálma Székely, head of K&H’s sales and life insurance business, said about the market trends, i.e. the development of the entire travel insurance market, that last year the number of contracts was close to 1.2 million, which represented a serious increase of more than 40 percent compared to the year before compared to when few people traveled abroad due to the impact of the epidemic. At the same time, the number of contracts last year is still below the level of 2019, i.e. before the pandemic: Hungarians took out 60,000 more travel insurance then.

More and more people are online

Quoting the latest data from K&H, the expert said: in the first half of this year’s high season, from June 1, travelers abroad took out travel insurance with K&H at an average price of HUF 9,231, for an average of two people and 7.5 days.

“All this means that the average fee for one day and two people is HUF 1,231, in return for which the insurance also provides travelers with coverage for the treatment of a possible accident or health problem”

– the specialist explained the latest data on travel insurances taken out on the mobile bank and on the website of the financial institution.