Compare Home Insurance in Bulgaria

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What is home insurance in Bulgaria?

Home insurance (застраховка на имущество) protects your property and its contents against risks such as fire, water damage, storm, theft and, importantly for Bulgaria, earthquake. Policies can cover the building structure, contents, or both, and are available for owned homes, holiday properties and rented accommodation. While home insurance is not legally compulsory for most owners, it is often required by lenders as a condition of a mortgage, and it is a common safeguard given the country's seismic and flood exposure.

How the Bulgarian market works

Insurers are licensed and supervised by the Financial Supervision Commission (FSC, or KFN in Bulgarian), which oversees the non-bank financial sector. The market is served by large domestic and international-backed insurers, and policies are sold directly, through bank branches and via brokers. Bulgaria sits in a seismically active region, so earthquake cover is a distinguishing feature buyers should look for. Premiums are quoted in lev, with the euro peg at 1.95583 and euro adoption planned.

Benefits

Rebuild protection — cover for the structure helps you repair or rebuild after major damage.

Earthquake and flood cover — natural-catastrophe perils can be included, which matters given local exposure.

Contents and valuables — furniture, electronics and personal items can be insured against theft and damage.

Liability — many policies include cover if you accidentally cause damage to a neighbour, such as a water leak.

How to choose

Decide whether you need buildings cover, contents cover, or both, and set sums insured that reflect true rebuild and replacement costs rather than market price. Check which perils are included — particularly earthquake and flooding — and read the exclusions and excess. Compare whether valuables, glass and liability are bundled or optional. If you have a mortgage, confirm the policy meets your lender's requirements.

Leading providers in Bulgaria

DZI, part of Belgium's KBC group, is a major property insurer, as is Bulstrad Vienna Insurance Group, backed by Austria's VIG. Generali Bulgaria brings the Italian group's international reach, and Allianz Bulgaria Insurance offers home cover within the wider Allianz relationship. All are FSC-supervised and sell through branches, banks and brokers, so quotes are easy to compare side by side.

What it costs

Premiums depend on the property's location, size, construction, sums insured and the perils covered. A basic contents policy for an apartment is relatively inexpensive, while full buildings-plus-contents cover with earthquake protection for a larger home costs more. Adding an excess or limiting optional perils lowers the premium. Many insurers allow annual or instalment payment, and bundling with a car or life policy can attract a discount.

Protections and regulation

Home insurers are authorised and supervised by the Financial Supervision Commission. Policies are governed by the Bulgarian Insurance Code, which sets rules on contract terms, claims handling and consumer information. If a claim dispute cannot be resolved with the insurer, policyholders can escalate to the regulator or the courts. Always read the policy document (the general conditions) to understand what is and is not covered before you buy.

Common questions

Is home insurance mandatory? Not by law for most owners, but lenders usually require it while a mortgage is outstanding.

Is earthquake included automatically? Not always — check whether seismic cover is standard or an add-on, as it is a key risk in Bulgaria.

How is the sum insured set? Base buildings cover on rebuild cost and contents on replacement value, not on the property's market or purchase price.

Home Insurance in Bulgaria — FAQ