Bulgarian property insurance

As with many of the financial products and services in Bulgaria, the insurance market is relatively immature. Many Bulgarians do not take out property insurance, but it is prudent to do so, even if it is only basic buildings cover. Buildings and contents insurance is normally offered separately.

Basic buildings insurance covers events such as fire and flooding. Cover may be extended to include landslides and earthquakes. Contents insurance is significantly more expensive than basic buildings cover.The standard Bulgarian contents insurance policies generally cover only furniture and electrical goods. You are advised to make a photographic record of all of the items you wish to insure and note down their serial numbers where possible. You will also be expected to write down the estimated replacement value of each item. Valuables such as jewellery may also be insured, but these are covered by more specific, more expensive policies. To insure any of the items listed on your contents policy against burglary you may need to take out a separate policy.