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Average home insurance premiums rising

Residential

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Average home insurance premiums are rising slowly but steadily due to the steep rise in real estate reconstruction costs, Anett Cseh, Product Development Manager at Netrisk.hu, told business daily Világgazdaság.

She explained that the drastic rise in prices is due to soaring labor costs and building material prices, which will continue to put pressure on average prices in the period ahead.

The current premium-moving item is storm damage, and Nándor Szurgyi, head of Aegon's home insurance business, told vg.hu that this summer, far more storms caused more damage than before, increasing damage payments by billions of forint.

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