BULGARIA: ABZ: only 8% of homes are insured

27 January 2025 — Marina MAGNAVAL
According to Vesselin Angelov, member of the Board of Directors of the Association of Bulgarian Insurers (ABZ), about 85% of people in Bulgaria live in their own homes, but only about 8% of them are insured. However, in recent years, a positive trend has been observed - the share of insured homes is gradually increasing, ABZ writes.

The problem is that the starting price is low and if the current growth rate is maintained, it will take years to reach acceptable levels, as Vesselin Angelov explained. He emphasized that the importance of insurance becomes even more obvious against the backdrop of increasingly frequent and devastating natural disasters.

The price of home insurance cannot be a deterrent factor when buying, added Vesselin Angelov. These policies are extremely affordable, certainly more affordable than motor insurance. The average annual premium in Bulgaria is about BGN 100 (~EUR 51) with amount insured of about BGN 100 thousand (EUR 51 thousand), the Board of Directors of the ABZ said.



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