With the introduction of the euro as the official currency of Bulgaria on 1 January 2026, there will be changes in how monetary amounts are displayed in insurance documents. It is important to note that these changes will not negatively affect the prices of insurance services.
Insurers have adopted clear rules to ensure that the conversion from leva to euro is carried out correctly and transparently, without additional costs or changes to your financial obligations.
During the transition to the euro, additional consumer protection measures will also apply – such as the dual display of prices in both leva and euro – to make the process easier for consumers and ensure full transparency.
Below are answers to the most frequently asked questions to help you understand what to expect and how your rights are safeguarded.
1. Will insurance prices increase with the introduction of the euro?
No. The conversion from leva to euro will not, in itself, result in higher insurance prices. Insurers have adopted, and will comply with, clear rules on the conversion process to fully protect consumers’ interests.
2. Do I need to sign a new insurance contract because of the change in currency?
No. The introduction of the euro does not affect the validity of your existing insurance contracts. They remain in force under the same conditions, with the only change being that amounts will be expressed in euros instead of leva. The conversion will be performed automatically by the insurer, without the need to sign a new contract or annex, or to take any additional action.
3. How will insurance prices and other amounts in contracts be recalculated?
Recalculation (conversion) will be done automatically at the official exchange rate of EUR 1 = BGN 1.95583. Amounts will be rounded to two decimal places in line with standard mathematical rounding rules.
4. What does “dual display” of prices mean and why is it applied?
Dual display means that, for a specific period, all prices of goods and services are shown in both leva and euros.
In Bulgaria, this period will run from 8 August 2025 to 8 August 2026.
The purpose is to make the transition easier, enabling consumers to compare prices and verify that conversion has been carried out correctly, without changes to contractual conditions.
5. What will be displayed in both leva and euros for insurance services?
For insurance services, the following must be shown in both currencies:
This information must be clearly displayed in insurers’ offices and on their websites, and must also be provided upon request, free of charge, on paper or another durable medium.
6. Are there amounts related to insurance services for which dual display is not mandatory?
Yes. Dual display is not required for taxes, fees, contributions to the Guarantee Fund, and other converted monetary amounts that are different from the price of the insurance service and for which the consumer is informed by the insurer:
7. How should proper dual display look?
Amounts in euros and leva must be shown side by side, clearly, legibly, unambiguously, and in an easily understandable way, using the same font size, so as not to mislead consumers. Each amount must be accompanied by the written name, symbol, or abbreviation of the respective currency for easy recognition.
8. Will I also see the dual display on payment documents?
Yes. During the dual display period (8 August 2025 – 8 August 2026), the total price of the insurance service must be shown in both euros and leva on issued fiscal receipts or other payment documents, together with the official exchange rate of the lev to the euro.
9. How will prices be communicated in audio and video advertisements?
During the dual display period, in audio and video advertisements, prices of insurance services may be stated orally only in leva until the euro’s introduction date, and only in euros thereafter.
10. What is the “dual circulation” period for the euro and lev?
The dual circulation period is the first month after the euro’s official introduction in Bulgaria – January 2026. During this month, both the lev and the euro will be legal tender, and you will be able to pay in cash with either currency. After this month, only the euro will be legal tender.
11. Can I pay in leva after the euro is introduced?
Yes. For one month after the euro adoption date (January 2026), the lev will continue to be legal tender in Bulgaria. During this period, you may pay in both leva and euros for insurance services in cash.
12. How will change be given during the dual circulation period?
When paying in cash in either leva or euros during January 2026, change must be given entirely in euros.
If the cashier does not have enough euros, change may be given entirely in leva. An insurer may also refuse to accept more than 50 coins in leva, including stotinki.
13. How will refunds be made if I cancel insurance during the dual circulation period?
If an insurance service is terminated or a contract is rescinded in the legally permitted cases during January 2026, the insurer must refund the owed amounts entirely in euros. If the refund is made in cash and sufficient euros are not available, the refund may be paid entirely in leva.
14. Can I request a statement of amounts in leva?
Yes. For one year from 1 January 2026, you have the right to request a statement of the amounts in leva under your insurance contracts. This statement will be provided free of charge within seven days of your request.
15. Will the rules for settlements and compensation change?
No. The introduction of the euro will not change the procedures or conditions for settling claims and paying compensation under your insurance policies. The only change is that amounts will be expressed and paid in euros instead of leva. All other contract terms remain the same.
YOUR RIGHTS AND INTERESTS ARE PROTECTED!
Insurers are obliged to provide you with complete, clear, and accessible information throughout the entire transition to the euro. If you have questions, do not hesitate to seek assistance and information from your insurer.
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