Home insurance has reached a limit

Fortunately, the end of the year does not mean a prominent claim reporting period for home insurance at K&H, so increased caution is justified in several respects. In this regard, it may be interesting to see how the Hungarian population protects their homes. According to a survey conducted by K&H Bank in the third quarter of 2024, people aged 30-59 most often use home insurance to protect their property and mitigate material damage.

Insurance is a hit

According to the survey, 80 percent of respondents protect themselves with home insurance, which is the most significant proportion when looking at the different solutions. High-income earners deviated from the average, with this proportion reaching 87 percent. 77 percent of those with medium incomes, and only 67 percent of those with low incomes, mentioned home insurance in the first place. Those with more money are naturally more open to concluding more expensive but more comprehensive contracts. It is also logical that those who live in their own homes are more often insured than those who do not live in their own homes. In the case of rented apartments, only 54 percent of those surveyed reported that they had taken out property insurance.

People living in villages mainly trust in the cooperation of neighbors – that is, in their attention to each other’s homes. This protection method was mentioned by 77 percent of those living in the smallest settlements, while this rate was only 59 percent among those living in Budapest. This method is also more popular among those with higher incomes.