Lili Stoyanova, Director of Sales for Domestic Markets at BNR Radio Sofia: "Overall, the insurance culture of Bulgarians is improving."

"According to this study by the Association of Bulgarian Insurers, the share of people with insurance in our country has increased by 7% year-on-year. In 2023, 29% of respondents said they have home insurance, while in 2024, this figure rose to 66%. The survey was conducted among the urban population of working age," said Stoyanova.

She noted that people do not insure their homes because they believe that nothing bad will happen to them.

"For them, natural disasters are just things they see on the news that happen to other people. Another reason is that Bulgarians always think the state should step in and help them. This is partly true, but not entirely. The state should help those in need, but it cannot cover the damages for everyone," emphasized Lili Stoyanova.

She added that often when people take out home insurance, they do not know exactly what it covers. "Primarily, home insurance covers fire, natural disasters—floods, earthquakes, rain, hail—as well as insurance for movable property against theft, robbery, and vandalism. These are the main coverages that are recommended when taking out insurance for a household," explained Lili Stoyanova.

She noted that overall, the insurance culture of Bulgarians is improving. According to the same study, in 2023, 20% of respondents stated they did not have property insurance, while in 2024, this percentage dropped to 15%. What Bulgarians most often insure are their homes, cars, health, as well as assistance and cancellation when traveling.

When organizing their own vacations abroad, Lili Stoyanova recommended that people should definitely take out insurance.

You can listen to the entire conversation here.