Insurance in Hungary promises nothing less than to make life comfortable and convenient for everyone, whether they live in the country or are just visiting. It is common not to plan for the good experiences in Hungary, but most of the time you neglect to think enough about risks. Of course nobody wishes something to go wrong in Hungary, but at the same time shit just happens. No one ever wants to have an accident, be sick, lose a property or similar things, but they happen anyway.
In Hungary, taking out insurance is important as it protects residents from financial losses. Taking out any form of insurance is also a form of security. In most cases, there is a fear of sudden loss; therefore, taking out insurance covers any sudden loss. The other importance of taking out insurance in Hungary is to spread the risk, encourage saving and provide a source for collecting funds.
Health insurance Hungary
Health insurance is free for all Hungarian citizens. It is publicly funded, and coverage extends to non-Hungarian citizens insured through the National Health Insurance Fund. The country's public hospitals offer a high standard of care.
EU citizens are entitled to health care through the European Health Insurance Card . This means that they will receive the same medical treatment as Hungarian citizens. But those who want to avoid overcrowding and bureaucracy in public hospitals can get private health insurance. The reason for this is that private facilities are usually well prepared.
Foreigners in Hungary who are from non-EU countries can receive free emergency medical services. You should take out health insurance for the period of your stay in Hungary. The following are the medical benefits provided free of charge to Hungarian citizens.
- Up to the age of 18. Dental treatment is free of charge when the beneficiary reaches the age of 65.
- Home treatment to reduce the burden on the public health care system
- Outpatient care
- Preventive checkups and early detection
- Impatient care
In Hungary, there are two types of unemployment benefits, including unemployment benefit and pre-retirement unemployment benefit. To receive benefits, conditions must work at least 360 days in 3 years before becoming unemployed. The maximum benefit entitlement for job seekers is about 90 days, and the minimum is 36 days. A job seeker also receives 60% of the amount previously earned .
Pre-retirement job search assistance may be provided to a person who:
- Has sufficient pension contribution time
- Within 5 years after reaching retirement age
- Does not receive benefits before reaching retirement age
- Has received jobseeker's compensation
- Reach retirement age in no more than 5 years, within 3 years after unemployment benefits end
In Hungary, unemployment benefits can be stopped before 90 days have passed. It can stop:
- If the beneficiary so requests
- If the beneficiary dies
- If the beneficiary enrolls as a full-time student
- At the end of the claim period
- If the beneficiary receives income from other activities
- If the beneficiary receives benefits related to individuals with modified earning capacity
Car insurance varies from company to company. Factors considered when determining the cost of car insurance also include:
- Place of registration of the car
- Age of the driver and driving history
- Make and model of the vehicle
- If there are young children in the family
The two most important types of insurance in Hungary are liability insurance and comprehensive insurance. Liability insurance is mandatory and protects a person from damages caused to third parties . Covered items include property damage, vehicle damage, death and bodily injury.
Comprehensive auto insurance helps pay for repair or replacement of the vehicle in the event of damage or theft. It also covers damage from falling objects, vandalism and fire. Unfortunately, it does not cover collision.
Homeowner's insurance in Hungary ensures that residents are protected if something happens to them . In most cases, it is a requirement if you need a mortgage. If one does not purchase this type of insurance, they will pay for repairs and replacement if something happens.
Homeowner's insurance is important to Hungarians because it increases financial protection in the event of theft or damage to your home. In addition, it provides alternative housing if something happens to your home and you need shelter. The insurance is also good for emergencies at home and covers accidents such as z. B. Spills on the carpet off.
The future is unknown. Thus, life insurance helps to protect both you and your family by leaving them a non-taxable amount in the event of your death. In some cases, the insurance also covers personal loans as well as mortgages.
Life insurance is something to think about when you are young. You should not reach a ripe old age to think about it. The reason for this is that if you take it early, the chances of getting better deals are high. In addition to death, the insurance covers incurable and chronic diseases.
Any person living outside the Schengen area who does not have a visa-free regime needs a Schengen visa as well as travel insurance. It helps to move freely through Hungary and Europe. In addition, Hungarian residents traveling abroad need travel insurance. Due to the coronavirus, most insurance companies currently cover medical expenses, including Covid-19 , as long as one travels according to World Health Organization guidelines.
The travel insurance also covers personal belongings as well as luggage. Coverage is provided for damage, theft and loss of a bag. In addition, private accident and activity coverage, cancellation coverage and legal protection are provided.
In Hungary, it is important to take out a pet insurance policy. The insurance covers some of the health conditions, including hypothyroidism, hip dysplasia, epilepsy, blood clotting disorders and eye diseases. Basically, it reduces the cost of veterinary expenses.
Public liability insurance
Public liability insurance is important in Hungary because it protects people from third-party claims for loss, injury, death and negligence. It can also protect one from economic or financial loss and property damage.