"Insurance was already dealt with by the Egyptians, although the first proper insurance companies were established much later. The need for insurance products that will help us in difficult times is natural to the human race. It's actually the only security you can buy," says Veronika Pilkova, spokesperson for the Czech Insurance Association.
According to the Survey, about 65% of Czech have an active household insurance, this kind of insurance product being the most accessed. "Home insurance enjoys stable interest. In addition, it increases very significantly with age and in the over 65 category, according to the data" explains Jana Hamanova, director of the SC&C agency.
At the same time, 55% of Czech protect their real estate with insurance, but only a third of these insurance contracts are set to the correct sum insured, or limit of insurance benefits - such that it would be possible to purchase a new home. According to CAP representatives, most contracts are underinsured, and 15% of contracts are even concluded for less than half the insured sum, or the value for which it would be possible to reacquire the given property.
"From the detailed data of our members, it resulted that the most common amount of underinsurance is between 20% and 49%. This is disturbing. And even more worryingly, 15% of contracts even reach more than 50% underinsurance. With such underinsurance, case of an insured event, clients will unfortunately receive at most only half of the actual damage," explains Petr Jedlicka, insurance analyst of the Czech Insurance Association.
In third place is life insurance, which about half of the population - or every second Czech - has a long-term contract. At the same time, another 44% are financially protected with insurance in the event of an accident. "In the long term, Czechs prefer to insure their property rather than life. And this year's data confirm it again," concluded Petr Jedlicka.
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