Only 10% of real estate properties in Bulgaria are insured, which is significantly lower than European standards, reported Veselin Angelov - a member of the Board of Directors of the Association of Bulgarian Insurers - in an exclusive interview for Bulgarian National Radio.

The upcoming May campaign by brokers already demonstrates increased interest in insurance products, especially with the approaching fire-prone season. "We are observing increased demand for property insurance, which covers not only fire risks but also flood risks," the expert emphasized.

Statistics reveal an interesting picture – while in big cities insurance reaches around 10% and mainly covers apartments, in smaller settlements this percentage drops drastically to 2-3%. As an illustration, Angelov pointed to a two-room apartment in the Sofia complex "Druzhba" worth 130 thousand euros, whose annual insurance amounts to about 200 leva with full coverage.

The data on fires is alarming – currently active fire hotspots are at 62%, and the forecast for 2024 predicts nearly 600 fires, which represents an increase of 9%. The most high-risk regions include the Rhodope Mountains, Strandzha, Pirin, and Sakar. A key point is that 90% of incidents are directly caused by human intervention or negligence.

The insurance expert sent a categorical message to citizens: "Insurance is not expensive! There are different products, with basic fire protection costing only 30-40 leva annually, and extended options reaching 50-100 leva".

Angelov further explained that insurance prices will remain stable, to be visualized only in euros due to the fixed exchange rate. He recommended that citizens consider comprehensive insurance, especially in earthquake-threatened areas, emphasizing that the price can be only 100 leva annually.

As an additional example of the need for insurance, the expert pointed to the incident in Sveti Vlas, where 8 parked cars recently burned down. He emphasized that mandatory civil liability covers only damages caused to third parties.