13.02.2009 BULGARIAN PROPERTIES Analyze Property Insurance in Bulgaria on TV2 Channel

BULGARIAN PROPERTIES Head Office

On February 12th BULGARIAN PROPERTIES’ Operations Manager Polina Stoykova commented the property insurance market in Bulgaria in the evening program of the national television channel TV2.

Ms. Stoykova explained that as a whole Bulgarians are not used to insuring their properties as she added that an exception to the rule are the wealthier buyers. According to the data of the Insurance Unit at BULGARIAN PROPERTIES most of the insurances made in Sofia region are for apartments whose price is between 70,000 and 100,000 Euro.

The insurance premium is defined on the basis of the insurance company tariffs and depends on the type and location of the property insured, its insurance price, the agreed range of the insurance cover and the specific risk factors. For example, a property in Sofia with a price of 50,000 Euro can have a base cover insurance for about 150-200 BGN. For any extended covers that include furnishing and domestic appliances the price of the insurance increases.

In contrast to the company’s Bulgarian clients the foreign buyers demand almost in all cases to have their properties insured. That is why from the very beginning of the company’s activity BULGARIAN PROPERTIES set up the Insurance Unit. Apart from everything else this unit takes care of the renewal of the insurance policies and provides assistance in case of an occurrence of an insured event. Besides insurance of immovable property the company also offers all other types of insurance.

For a third year in a row the Insurance Unit of BULGARIAN PROPERTIES was announced number one broker in the country by one of the biggest insurance companies in Bulgaria.

For more information please contact our insurance expert Galya Zlatanova by e-mail or at +359 2 868 11 88, mobile +359 888 880 859

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