While 45% of Romanians estimate they would need at least RON 20,000 (~EUR 4,000) to cope with an accident, illness or other unexpected event, 51% say they could immediately access less than a quarter of that amount. Only 10% could fully cover the amount they believe they would need.
The gap is particularly significant considering that Romanians have a clear view of what they want insurance to protect. Health – their own or that of their family – ranks first, mentioned by 61% of respondents, followed by their own life or that of loved ones (56%) and family income and financial stability (44%). Home protection ranks fourth, at 39%, followed by motor insurance, at 33%.
Protection still largely limited to compulsory insurance
In practice, however, insurance protection remains limited. Almost half of respondents (48%) say they only have compulsory insurance – motor, home insurance or life insurance linked to a loan – while 13% have no insurance at all. Only 15% say they have a broader protection plan covering themselves and their loved ones against several types of risks.
The difference is also visible in market figures. Romania has almost 6 million compulsory motor insurance policies and 2.4 million compulsory home insurance policies, compared with nearly 2.3 million life insurance contracts and only about 279,000 health insurance policies, according to the latest data from the Financial Supervisory Authority (ASF).
For many people, attitudes toward protection change only after experiencing a difficult event. Almost half of the participants in the Allianz-Țiriac survey said that a health problem affecting themselves, their family or someone close to them had made them think more seriously about the need for financial protection. An accident was the trigger for 27%, emergency surgery for 23%, while 22% pointed to a death in the family.
“People know what matters to them and what they want to protect: their health, their family and the financial stability of their loved ones. The problem becomes visible when something unexpected happens and we see how large the gap can be between the money we need and the resources we actually have available,” said Virgil Șoncutean, CEO of Allianz-Țiriac Asigurări.
He stressed that protection needs to be built before an emergency occurs. Insurance cannot eliminate risks, he said, but it can prevent a difficult event from also becoming a major financial problem for the family.
Emergency costs may exceed households' available resources
The financial impact may be substantial. Some 45% of respondents estimate they would need at least RON 20,000 to cope with an accident, illness or other emergency, while 9% believe they would need more than RON 100,000.
Moreover, the average protection gap of a Romanian family exceeds RON 165,000 (~EUR 33,000), according to data from UNSAR – the National Union of Insurance and Reinsurance Companies in Romania. The figure represents the additional amount a household would need, beyond its available financial resources, to cope with a serious event.
Access to money is another important issue. Some 51% of respondents said they could immediately access no more than a quarter of the amount they believe they would need, while only 10% could cover the entire amount.
When their own resources are insufficient, households tend to turn to solutions that may put additional pressure on their finances. About 26% would use their existing savings, even if these covered only part of the required amount, 22% would ask family or friends for support, while 18% would take out a bank loan.
Saving takes years, while risks can materialize at any time
Only 8% of respondents said they would rely on insurance in an emergency, although insurance can provide access to the insured amount when a covered event occurs, while building equivalent savings may take years.
According to the survey, 67% of Romanians estimate they would need at least three years to save the amount they believe necessary to cope with a serious emergency.
Against this background, 46% said they would prefer to pay a smaller monthly or quarterly insurance premium that would give them access to the full insured amount if a covered risk materialized. By comparison, 33% would prefer to build up savings, while 21% would opt for borrowing.
The Allianz-Țiriac survey was conducted nationwide in March 2026 by CURS, using the CAWI (Computer Assisted Web Interviewing) method. The sample comprised 1,218 respondents and was representative of Romania's resident adult population. The maximum margin of error was ±2.8%, at a 95% confidence level.
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