Majority of Romanians residing overseas lack coverage for their domestic possessions, according to a recent report
A recent survey conducted by Allianz-Tiriac revealed some intriguing insights into the insurance habits of Romanians living abroad. The nationwide study, conducted in April 2025 among 1,011 internet users in Romania, sheds light on the insurance ownership patterns of Romanians living abroad and the influence of their host countries' financial protection norms.
The survey found that over 72% of Romanians living abroad have various forms of insurance in the countries they've moved to, reflecting the stronger insurance culture and more developed insurance industries abroad. This is in stark contrast to the fact that approximately 69% of Romanians living abroad do not maintain any insurance in Romania for their property or assets left at home, despite about 25% owning a house or apartment and 13% owning a car there without insurance.
Specifically, among Romanians living abroad, around 46% have health insurance, over 43% have car insurance, nearly 30% have home insurance, and 23% have life insurance policies. This contrast highlights the influence of the host countries' financial protection norms and systems that encourage or require insurance coverage.
Virgil Șoncutean, CEO of Allianz-Tiriac Asigurări, commented on the findings, stating that Romanians quickly learn to protect themselves when living in a supportive environment with a culture centered on financial security.
The survey also revealed that two in ten Romanians receive financial support from relatives in the diaspora, with nearly four in ten respondents reporting that they have close family members currently living or working abroad. In more than half of these cases, those family members are permanently settled there.
Approximately 35% of Romanians receive advice and useful information from their relatives in the diaspora. However, the support they receive often falls short of meeting their needs. Only 11% of beneficiaries say the support they receive is enough to cover their current expenses, while nearly 16% say it is not sufficient but they manage. A concerning 3.5% report facing financial difficulties due to the support they receive.
In terms of visits, around 32% of Romanians are frequently visited by their relatives in the diaspora, and around 5% of Romanians receive health-related support from their relatives in the diaspora.
These findings underscore the importance of financial planning and insurance coverage for Romanians living abroad, as well as the significant role that family support and advice can play in their lives. As Romanians continue to integrate into their host countries, it will be interesting to see how their insurance ownership patterns evolve over time.
[1] Data source: Allianz-Tiriac survey, April 2025.
Personal finance is a significant concern for many Romanians living abroad, as evidenced by the survey that showed approximately 35% of them receive advice and useful information from their relatives in the diaspora about financial matters. Additionally, the survey found that when it comes to personal insurance, around 46% of Romanians living abroad have health insurance, over 43% have car insurance, nearly 30% have home insurance, and 23% have life insurance policies.
