A third of Latvian residents (33%) do not own a personal vehicle, while of those who do, almost half (47%) choose to purchase Motor Hull insurance. However, 53% of vehicle owners still do not buy this product according to a survey conducted by the Latvian Insurers Association (LAA).

Among vehicle owners, Motor Hull insurance is more often chosen by people aged 40 to 49, respondents with higher education, managers, as well as those whose monthly income exceeds EUR 1,200, according to the LAA survey data.

“The survey results show that in some parts of our society people keep a certain distance towards Motor Hull insurance, especially those with lower incomes or living outside large cities”, commented LAA President Jānis Abāšins.

It is noted that the survey was conducted by a research company Norstat, this year in May, surveying 1,010 Latvian residents aged 18-74.