K&H: many people still don’t look around for the mandatory ones

The majority of middle-aged car owners – 55 percent – ​​say that they review the offers of different insurers before each insurance anniversary in order to choose the most favorable solution. In contrast, 12 percent of them said that they have never examined the offers of other insurers – this is revealed by the K&H komzit vuur survey, which, like in previous years, examined the car insurance habits of 30-59 year-olds who own their own car in the last quarter of 2024.

In addition to mandatory insurance, twenty percent of the surveyed car owners also have casco insurance, which is in line with the results of previous years. “Despite the increase in the price of cars and the increase in service fees, there is still no significant change in the case of casco, even though the damage resulting from one’s own fault can often be in the millions, even millions, for which this insurance can provide coverage,” said Székely Pálma, head of K&H’s sales and life insurance business. He added that the financial institution handles more than 1 million compulsory motor insurance policies and that the number of casco insurance policies has also increased four and a half times in the past 5 years. Of course, the premiums depend on many factors, including the age of the operator, the fuel, engine capacity and performance of the vehicle, and the bonus-malus classification. While in the case of casco, in addition to the type and age of the car, the size of the deductible is also influential.

The research also reveals that the proportion of motorists with comprehensive insurance in Budapest is particularly high, at 30 percent, while in the villages it is only half that, at 15 percent. The difference can be partly explained by income differences.