Albanians invest in their homes, but not in their insurance - The property insurance market remains many times smaller than that of other countries
Albanians continue to under-insure their property compared to other Central and Eastern European countries. Data from the latest Xprimm report shows that property insurance remains one of the most underdeveloped segments in Albania.
According to the regional report, property insurance accounts for only about 10% of the total insurance portfolio in Albania, while the majority of the market is dominated by compulsory motor insurance. In the developed countries of the region, the share of property insurance is significantly higher. In the Czech Republic it reaches 19%, in Hungary 20%, while in Estonia and Lithuania it fluctuates between 18 and 25%.
Even in absolute terms, the Albanian market remains very small. In 2025, gross written premiums for property insurance amounted to around 29 million euros, accounting for only 0.32% of the regional market in Central and Eastern Europe. By comparison, in Poland this segment generates over 3.2 billion euros, while in the Czech Republic it is around 1.9 billion euros.
This situation is related to the lack of insurance culture, lower income levels, and the perception that home or business insurance is not a necessity. However, this exposes families and businesses to significant financial risks in the event of fires, floods, earthquakes, or other damage.
The data also shows that claims paid by property insurance companies in Albania fell to around 6 million euros in 2025, from around 9 million euros the year before. This reflects a low level of insurance coverage, but also a market that remains limited by European standards.
While Albania periodically faces natural disasters and various risks to homes and businesses, statistics show that the majority of properties in the country continue to remain uninsured, leaving the financial burden of damages primarily on citizens and the state.
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