Insurance in Bulgaria

Insurance in Bulgaria

Bulgarian citizens and residents can always get different kinds of insurance including health, car, travel plus many more. The insurances help them in protecting themselves, their families, as well as assets from financial losses and risks. In addition, insurance plays the role of protecting the productive workforce in Bulgaria.

Insurance in Bulgaria

Health Insurance in Bulgaria

In Bulgaria, health insurance is mandatory for the citizens as well as other residents residing permanently in the nation but do not have health insurance from the other EU members. Considering the payment, it mainly depends on one’s salary, but the minimum rate is about 18 leva monthly. The health care contributions are about one’s 8% salary.  4.8%  of this comes directly as remittances paid by the employer but the employee pays the rest.

Children, both the Bulgarian and EU members, are entitled to free social and medical care. The medical assistance in Bulgaria is covered by the National Health Insurance Fund. Therefore, the following are what one gets by paying insurance:

  • Information regarding one’s health status as well as treatment methods
  • Medicines for home treatment
  • Access to high-quality care
  • Dental care
  • Hospital care
  • Specialised outpatient care
  • Highly specialised medical activities.

Insurance in Bulgaria

Unemployment Insurance

Unemployment insurance is available for any Bulgarian resident who has paid the social insurance contributions for at least one year in the past 18 months before being unemployed. Besides, in some cases, an employee can benefit in a case where the company they work in becomes insolvent. The conditions that make anyone qualified to get the unemployment benefits is as follows;

  • You’re not employed in a task subjected to compulsory insurance
  • Not entitled to a pension for the duration of old age or social insurance or even early retirement in any country, including Bulgaria
  • Registered in the Employment Agency as unemployed
  • If unemployed part-time and the compensation is less than the nation’s minimum wage, one can be entitled to half of the due unemployment benefit.

In Bulgaria, “The daily cash benefit for unemployment is 60% of your average insurable income for which you have paid contributions during the 24 months prior to suspension of social insurance.” Also, in case one works in another EU nation, then the accountable period is the one where the person worked in Bulgaria. In 2021 the least amount the unemployed got in terms of benefit is BGN 12 daily while the maximum was BGN 74.29 daily.

Car Insurance

Just like the other EU nations, car insurance, especially third party, is mandatory in Bulgaria. If a driver fails to offer a valid insurance policy, then one may be fined. The insurance covers the liability of owners as well as the motor vehicle driver if they cause:

  • Injury or even kill people
  • Damages or destroys other motor vehicles
  • Loses benefits directly linked to road traffic accident consequences

Another type of car insurance is Casco insurance, and it offers indemnity for full destruction, damage, or even theft of a motor vehicle. It is renewable annually and available in Bulgaria territories. This type of insurance is further divided into two, partial and full Casco insurance:

Partial Casco insurance covers the following:

  • Natural disaster and fire
  • The impact from as well as a crash in other material objects
  • Vandalism or rather third-party malicious act.

Insurance in Bulgaria

Full Casco insurance covers:

  • Robber of motor vehicle
  • Theft of the vehicle
  • Road accident
  • Natural disaster and fire
  • The impact from as well as a crash in other material objects
  • Vandalism or rather third-party malicious act.

Home Property Insurance in Bulgaria

Bulgaria home insurance is a flexible and modern product that offers different risks linked to individual needs. It also provides the chance of insuring a movable property or building used for residential purposes. The following are the benefits one gets by taking this kind of insurance:

  • Broken ceramic countertops, broken glass, or sanitary ware
  • Personal accident
  • destruction caused by natural disasters, including earthquakes and floods
  • Losses as a result of implosion, explosion, lightning, and fire
  • Damages caused by movable property during transportation when changing addresses

Travel Insurance

It is a policy that any person traveling in Bulgaria must get medical travel insurance to the nation. Besides, the Bulgarian residents must also take travel insurance when travelling outside the EU member states. Before getting travel insurance, the following conditions should be considered:

  • The activities that one will do during the trip
  • The amount of medical coverage
  • The cost of the trip that is if one cancels it, he or she may get her money back

After taking the above considerations in place, below are the benefits one may get by taking this kind of insurance when traveling in or out of Bulgaria:

  • Legal expenses
  • Travel documents, passport, and personal money
  • Baggage and personal belongings
  • Abandoning the trip
  • Delayed departure
  • Personal liability and accident
  • Medical expenses as well as hospital benefit
  • Cancelling or cutting the journey short and others

Pet Insurance

Pet insurance in Bulgaria covers the common conditions that affect pets. They include distemper, bite wounds, and body ingestion. This insurance is important as it helps a pet to play and feed normally. Other things covered include accidents, hospitalizations, exam fees, diagnostic tests, surgeries, X-rays, and ultrasounds. In Bulgaria, pet insurance is mandatory for any person with a pet.

Self-employed Insurance

In Bulgaria, self-employed people are usually insured for disability because of old age (pension), death, and general sicknesses. In some cases, they may also insure themselves for maternity and general disease. However, it is not mandatory; they just insure themselves voluntarily.

Public liability insurance

Public liability insurance covers all the members of a family may be as a separate cover or part of the property insurance. It covers damage that is caused or done to any third parties by an individual, the tenants, pets, and children. Besides, since most of the Bulgarian insurance firms exclude the issue of public liability, one should consider it when letting a property.

The top insurance companies in Bulgaria

At this point, its clear that the need for insurance cover is real. Its no more a matter of luxury to have a cover but rather a necessity that secures your everyday so that you can focus on other important things. So now, get the reasons to register for and insured by one or more of the following insurers in Bulgaria.

  1. AIG
  3. AON
  4. National Health Service (NHS)
  5. Generali
  6. MetLife
  7. Employers’
  8. NN Group
  9. UNIQA
  10. GRAWE Bulgaria Jivotozastrahovane