Alfa and Union insurers also limit their home insurance premiums in Hungary
Alfa Insurance has agreed to help reduce the inflationary burden on the population by joining the voluntary commitment of home insurers. The aim is to exempt individuals with home insurance from the 12-month inflation that affects insurance premiums, while increasing the sum insured.
Alfa Insurance commits that for new home insurance policies concluded with private individuals (with risk coverage starting between 1 July 2025 and 30 June 2026),
premiums will not exceed the premium level of 31 December 2024 until 30 June 2026,
assuming that conditions remain unchanged.
For existing home insurance policies taken out by private individuals, the premium will not increase for a period of one year from insurance anniversaries falling between 1 July 2025 and 30 June 2026, provided that the insurance cover remains unchanged.
In order to avoid under-insurance, the policy terms and conditions provide for the insurance amounts to be adjusted in line with inflation in the previous period. The insurer makes these one-off concessions provided that the consumer price index does not rise by more than 6% a year.
Union Insurance has also announced that for new Union Home Insurance and Union For Me Qualified Consumer-Friendly Home Insurance policies concluded by private individuals with risk coverage starting between 1 July 2025 and 30 June 2026, the premium level will not exceed the premium level of these products as of 31 December 2024 until 30 June 2026, assuming unchanged conditions.
The insurer also commits that for existing home insurance policies concluded by private individuals with Union, the premium will not increase for one year from insurance anniversaries falling between 1 July 2025 and 30 June 2026, provided the insurance coverage remains unchanged. However, the insurance amounts will continue to increase according to the value adjustment specified in the contractual terms.
Cover photo: Portfolio
