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Between 35 and 40 percent of motorists decide to terminate their compulsory car liability insurance (kgfb) contract in the last week before the deadline, according to which around 40,000 contract changes can be made before the Dec. 1, online insurance brokerage portal Netisk.hu announced on Monday. With MTI.
Motorists with kgfb at the end of the year have just over a week to decide whether to accept their current insurer’s offer for the next annual period or rather change the contracts, the insurance broker said.
According to President Kázmér Kovács, the virus situation should also be taken into account when determining the 2021 premiums for auto liability insurance.
Insurers have reported an average premium increase of 8.3 percent to their clients. Cheaper offers proved more attractive during the contract change, so clients saved an average of HUF 5,300 through the new contract. Savings of more than HUF 10,000 are not uncommon for drivers who have not verified their year-end rates for two to three years. The average fee for new contracts has been around HUF 26,500 so far, Netrisk.hu reported.
Péter Marschalek, Commercial Director of the Netrisk Group, said in a statement that the average increase in premiums of around 8 percent covers significant divergences, there are insurers whose average premiums are at last year’s level, but there are some that have risen an average of the 22 percent.
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