Frequently asked questions: Motor Insurance

1. In which cases do you offer full (comprehensive) vehicle insurance (CASCO)?

Our company accepts clients' applications for full insurance for any type of vehicle and then, after careful consideration of each case, decides whether to accept or not accept that particular risk.

The main information that we take into account in such cases is: confirmed driving experience and driving experience in Cyprus or in countries with the same traffic rules (right-hand vehicles and left-hand navigation); the degree of vehicle use (frequent trips, increased mileage); history of accidents and insurance claims, the brand and model of the vehicle (to assess the availability of spare parts), and the engine power to determine the final performance of the vehicle.

Whenever we are asked to provide full coverage, we carefully consider the above and other data available to us. Each case is considered separately and the decision is determined not by individual criteria, but by the totality of the listed data.

2. Do you offer insurance coverage for the risks of driving abroad?

When a new client starts to work with our company, he must tell us if he is going to use his vehicle abroad. The Risk Assessment Department will evaluate the request and, depending on the proposed risk, approve or reject the insurance application.

3. What should I do if I have an accident and my vehicle is not insured?

According to the Motor Vehicles Law, any vehicle used on the road must have vehicle accident insurance covering the risks of civil liability to third parties, as required by the Compulsory Insurance Law.

There is an Agreement between the Motor Insurer’s Fund (MIF) and the Treasury. According to Part I of the said Agreement, in the event that the accident is caused by an uninsured driver, the MIF is obliged to compensate the victim of the accident for material damage and/or compensate for the costs associated with the bodily injuries sustained through the fault of the specified driver.

Subsequently, the uninsured driver reimburses the amount paid through his fault to the MIF.

Subject to certain conditions, the insured person has the right to apply to the MIF for the compensation payments in connection with the bodily injury and/or material damage. For more information on this issue, please contact the Motor Insurer’s Fund.

4. Who is responsible for my accident?

In general, any driver who drives a vehicle is responsible for an accident. Accidents in which two drivers are guilty happen as well. We will have to establish to what extent you are responsible for the accident and whether you are responsible at all, or another driver is responsible.

In the event that several drivers (including you) are guilty of an accident, you will have to pay damages in the proportion to your share of the liability. For example, if you are responsible for an accident 50⁄50, you will only pay 50% of the damage done to the other party, and you will only be paid 50% of your own damage. Keep in mind that the amount of the refund will also depend on the value of the vehicles. If you are not guilty of an accident or bear partial responsibility, you will have to file a claim in writing against the driver and/or the owner of the other vehicle involved. In case you get involved in an accident, call us and we will meet you at the incident site. At Pitsas Insurance we do our best for our clients, including filing a claim with another insurance company.

5. If I have an accident while driving abroad, what should I do?

Before traveling, ask your insurance company to provide the information on the names and phone numbers of their agents to resolve claims in each country you visit. Usually, in the event of an accident it is necessary to fill in the Accident Report of the standard established in Europe together with another driver. The purpose of the Report is to collect the information about the incident agreed upon by all drivers involved in the accident (that is, to get a precise picture of the incident). In future, the information specified in the Report will be used in the settlement of the claims. At the same time, you should contact your insurance company's insurance agent in the country where the accident occurred. If there is no agent in this country or you do not know how to contact him, contact the Bureau of International Insurance of the country in which the accident occurred (also known as the Green Card Bureau). In this case, you must inform your insurance company about all your actions.

6. How much insurance coverage can I expect if I travel to the countries that have signed the International Guarantee Agreement?

Your insurance policy provides third party liability coverage for any amount that is the minimum under the Laws of each of these countries, even if this amount is higher than the amount provided by your insurance policy.

7. What should I do if I am not satisfied with the repair that was made to my car?

Do not pick up your vehicle from the vehicle service and contact the insurance company, reporting the problem and asking them to intervene. Do not sign any indemnity documents.

8. What are my rights if the accident is caused by an uninsured vehicle or an unknown vehicle, the registration data and or ownership of which has not been established?

You can claim damages for the personal injury or the property damage from the Motor Insurer’s Fund, subject to the specific conditions. For more information on this matter contact the Motor Insurer’s Fund.

9. What if I want to add another driver to my insurance?

You must first ask your insurance company to amend your insurance policy and issue a new Insurance Certificate or Cover Note (the document confirming the changes in the insurance policy), and only then let the new driver drive your car.

10. What if I lost my insurance policy?

You must file a formal loss claim with your insurance company and ask for a copy of the Certificate.

11. What if I sell my car?

Notify your insurance company and return the Insurance Certificate to cancel the insurance and receive a partial refund of the insurance premium. Please note that the protection provided by your insurance policy is not automatically transferred to the purchaser of your vehicle.

12. How can I reduce the cost of my insurance?

The pricing policy depends on the insurance company and you can request detailed and indicative information about the discounts that you can receive on a case-by-case basis. Below are some examples of such discounts:

Discount for no insurance claims - calculated depending on the number of years during which you have been driving a vehicle without requiring insurance compensation. It is in your best interest to avoid small claims that would diminish the discount you are entitled to, so take a close look at which is best for you. You can also renew your insurance policy to maintain your no claim discount even after an accident, with a small additional premium.

Discount when insuring more than one vehicle by one insurer.

Discount when driving only by one or two named drivers.

Availability of other insurance from the same insurance company.

Long-term cooperation with the same insurance company.

Discount associated with choosing a higher deductible when you have purchased a full (or comprehensive) vehicle insurance policy.

13. What insurance do you recommend if my vehicle is new or relatively new and/or quite expensive?

If your vehicle is relatively new and/or has a high value full insurance (CASCO) is the best.

14. What should I do if my vehicle is crashed or I do not use it?

Notify your insurance company, return the Insurance Certificate and proceed with the cancellation of the insurance policy and the return of the insurance premium, as provided by the Insurance Contract, provided that you did not have an accident, the costs of which were compensated by the insurance company. If you do not use your vehicle, you can also take out fire and theft insurance while the vehicle is stationary (in a garage, parking lot, etc.).

15. I have CASCO and after the accident the appraiser decided that my vehicle was completely destroyed (absolute loss). Will you reimburse me for the cost of the vehicle specified in the Insurance Contract?

If after the accident the vehicle is damaged so much that the appraiser has declared its total loss (absolute loss), you will receive the amount indicated by the appraiser, which, in fact, is the market value of the vehicle at the time of its destruction. This amount depends on the degree of use (mileage) and the condition of the vehicle. The sum insured indicated in the contract is the maximum amount you can get.

16. Why is the vehicle inspected before changing the usual Vehicle Insurance Contract to full (comprehensive) insurance?

Unfortunately, insurance frauds do occur. For example, someone has CTP, and his vehicle has serious and costly damages that are not covered by this or another Insurance Contract. It may happen that this person wants to switch from his Insurance Contract to CASCO, providing himself with full coverage of the risks, and then apply for the coverage of the damage that existed before. In order to protect ourselves and our customers and keep insurance premiums low, we inspect vehicles to make sure there is no pre-existing damage before we insure them fully. If the inspection reveals pre-existing damage, we include it in the insurance offer separately.

17. Can I add a friend or relative who visits me in Cyprus to my insurance? What is the process and how much does it cost?

Based on the insurance risk acceptance criteria that we apply, friends and family can be added to an existing insurance policy. If you need this service call us toll-free at 70070500. To help us deal with this case quickly and easily, please provide the following information about the additional driver: name, date of birth, place of birth, date and country of issue of the driver's license, information on the existence of any accidents/claims and fines due to the fault of the proposed driver over the past seven years. As soon as we receive this information, we will be able to inform you about the amount of the additional premium. The premium will be calculated based on the period for which you are requesting an additional driver to be covered. If you finally decide to make these insurance supplements, we will need a copy of the additional driver's license and payment of the premium so that we can issue and provide you with a Cover Note.

18. Why is the cost of insuring more powerful cars higher?

Large, powerful cars tend to be more expensive to repair and more dangerous due to the excessive speed they can reach. Therefore, their insurance is more expensive, and the insurance for smaller vehicles with lower repair costs and less power is cheaper.

19. If my vehicle breaks down (wear or mechanical damage), will my insurance cover it?

No. Your insurance policy, even if it covers damage to your vehicle, is limited to accidental damage coverage.

20. Does my Insurance Contract cover any driver who drives my car?

It depends on your insurance policy. Typically, the insurance lists the drivers who are eligible to drive your car, or it covers any driver who drives the vehicle between the ages of and up to a certain number of years. Your insurance company will want to know the details of the drivers, especially in terms of age, driving experience and claims. Therefore, you should proceed with caution concerning whoever is expected to drive your vehicle and include them in the insurance, because, in addition to the financial consequences that will affect you personally in the event of an accident, driving a vehicle or allowing others to drive your vehicle without insurance is a criminal offense.

21. Why do I have to pay the amount of damage caused to my car, known as a deductible?

Because in this case you provide yourself with lower insurance premiums, and the higher the deductible, the greater your discount. You can buy preferential protection (insurance) from a deductible, in the presence of which you do not have to pay a deductible.

22. If I am a careful driver who avoids an accident, will it be rewarded?

Yes, depending on the type of the insurance and the type of the insured car, along with the reduced insurance premium due to the absence of an accident, you are entitled to a discount. This discount is known as no claims discount. Simultaneously with a discount for a small difference in the premium, you may be offered to purchase an additional option - to insure against an increase in your insurance premium in the event of an accident.

23. What should I do when extending (renewing) my Insurance Contract?

If you have full or third party liability, fire and theft insurance, check to see how the insured value of your vehicle matches its current market value and adjust the insured value so that you do not pay extra premiums.

Consider if you also need to change the list of the drivers who will be driving your vehicle or anything in your coverage.

Check/specify the amount of the deductible which will be indicated in your insurance policy for the new insurance period.

Notify your insurance company of any changes to the information you originally provided in your insurance application

24. Am I required to insure my car by Law? What Law is the vehicle insurance based on?

Under the Laws of Cyprus, you are indeed obligated to carry out third party liability insurance in the event of a vehicle accident. However, you should be aware that in addition to compulsory third party liability insurance in the event of a vehicle accident provided by Law, there are other types of insurance (voluntary insurance) that can provide the maximum possible insurance coverage for you and your vehicle.

The main Law governing the Insurance Contracts for the automotive sector is the current Law # ⁴⁸⁹⁄₇₆, as amended by the Decree of the President of Cyprus 237⁄86, which establishes the main provisions on the compulsory civil liability insurance in the event of a vehicle accident and Law # ²⁴⁹⁶⁄₁₉₉₇, governing the Insurance Contracts in general.

25. What vehicle is considered a vehicle according to the Law?

A vehicle is any vehicle moving on the ground, not on rails, with mechanical or power assistance, regardless of the number of wheels. A vehicle is also understood to mean a trailer that is either attached to the main vehicle or not.

26. What do we mean when we talk about "civil liability"?

Civil liability is the duty of every person to compensate for the damage that has been unlawfully and unreasonably inflicted by him on third parties.

27. Does my vehicle accident liability insurance cover the liability of anyone who drives my car?

In accordance with the Law, liability insurance in the event of a vehicle accident covers the civil liability to third parties of the main owner and each driver allowed to drive, or an employee driving the insured vehicle in the event of a traffic accident caused by their fault.

The insurance does not cover the civil liability of the persons who took over the vehicle as a result of theft or robbery (i.e. thieves), and then caused the accident by their actions, as well as the liability of the persons who intentionally committed an accident.

It is important to know that this insurance covers your liability to third parties as the owner or primary owner of the vehicle in the event that your vehicle is stolen or seized by violence.

28. What damage does the third party liability insurance cover in the event of a vehicle accident of my car? What compensation does my insurance company pay and to whom?

When insuring civil liability in the event of a vehicle accident, your insurance company undertakes to compensate for damage that may be caused to "third parties" by the persons included in the insurance policy (for example, the owner, drivers of the car, etc.) in the event that the vehicle accident occurs due to their fault.

In particular, this type of insurance covers liability in the event of death of third parties, causing bodily harm (injury) to them, liability for the damage to the property of "third parties", which also includes the compensation for the pain and suffering or moral harm.

The insurance also includes civil liability coverage in case of death or physical harm (injury) to the family members of the insured owner or driver of the car, or any other person whose civil liability is insured under this insurance policy (the person included in the insurance policy), regardless of the existence of family ties.

It is worth clarifying that “third parties” also include the passengers of the vehicle that caused the accident. The harm caused to them is compensated in accordance with the above. At the same time, neither the insured person himself, as a passenger of the insured vehicle, nor the driver of the vehicle are referred to as "third parties".

The costs covered by the insurance company include the costs of urgent hospitalization and transportation of third parties, as well as the legal costs of protecting an authorized driver in court for each accident for which he is responsible in connection with a claim brought against him related to the insured car.

Losses related to the damage to the things moved by the insured vehicle are excluded from the coverage and are not reimbursed.

The damage that may be caused by the insured vehicle to a vehicle belonging to the same owner or a vehicle belonging to one of his family members is also excluded from the coverage and not indemnified.

29. Which persons are not eligible for the insurance indemnity under my third party liability insurance policy in the event of a vehicle accident?

The following victims do not receive insurance compensation from your insurance company because they do not belong to "third parties":

• The driver of the vehicle that caused the damage.
• Any person whose liability is insured under this insurance policy (e.g. vehicle owner).
• A person who acted as one of the parties to the Vehicle Insurance Contract (that is, the policy holder).
• Legal representatives of a legal entity insured under this Insurance Contract or a company that has not acquired the status of a legal entity.
• Persons who agreed to ride the vehicle that caused the accident, if the insurer proves that they knew that the vehicle was taken from the legal owner illegally or is being used to commit a crime.

So, for example, if your car, which will be driven by your friend, causes an accident due to the fault of your friend - the driver of the car, you, as a passenger, will not receive compensation for any injuries sustained in this accident, because, as the owner of the car, the culprit in an accident, you are not considered a “third party”.

30. If I have an accident, does my vehicle accident liability insurance cover my personal injuries as a driver?

No. In order to have some protection in this case in addition to the compulsory third party liability insurance you must choose additional coverage for "personal accident insurance" offered by your insurance company.

For more information on the scope of protection provided by this insurance you should contact your insurance company or insurance intermediary.

31. What are the minimum amounts of coverage for which I must insure my third party liability in the event of a vehicle accident caused by my car?

The minimum coverage for third party liability insurance is regulated by Law. Law 3746⁄2009, with which the 5th EU Directive into Greek Law came into force, provided for a gradual increase in the minimum insurance coverage for personal injury and material loss of third parties until 01.06.2012.

Currently, the minimum amount of coverage for the physical damage caused by an accident (harm to life and health) is 36,350,000 Euro for each victim. The minimum coverage for material damage caused by an accident is also 1,220,000 Euro for each accident.

32. Can my insurance company ask me to reimburse the amount it paid as compensation to a third party who has suffered an accident due to my fault?

This can happen because the law provides three (3) insurance exemptions. In particular, the following are excluded from the insurance and are not reimbursed:

• Damage caused by a driver who does not have a legal driver's license to drive vehicles of this category.
• Damage caused by a driver who was under the influence of alcohol or toxic/narcotic substances during the accident, provided that this was directly or indirectly the cause of the accident.
• Damage caused by a driver who uses his vehicle for the purposes other than those stipulated in the insurance policy and in his/her license, if a causal relationship between such use and the cause of the accident has been proven.
• In these cases the insurance company is not relieved of its liability for the payment of compensation to a third party. BUT has the right to sue the insured and demand the reimbursement of the compensation paid to a third party.

33. If a driver who is under the influence of alcohol or toxic substances is guilty of an accident in which I become a participant, is the insurance company reimbursed for the damage caused to me?

Sure. You should be aware that if the driver responsible for the accident was under the influence of alcohol or drugs at the time of the accident, that driver's insurance company must compensate the third party (in this case, you) for the harm caused by that driver. Then, if there is a causal relationship with the accident between the consumption of alcohol or drugs, the insurance company has the right to go to court with a claim against the specified driver and demand to reimburse the money paid to it as compensation to third parties (namely, you).

34. What to do in case of death of the vehicle owner?

If the vehicle's license is officially transferred to the heirs of the deceased (a new owner is entered), then, in accordance with the Law, it is necessary to notify the insurance company of this fact and send it the updated data to be entered into the insurance policy. All the rights and obligations related to the insurance are automatically transferred to the new owner (heir), unless the heir, within thirty (30) days from the date of receipt of the inheritance, notifies the insurance company in writing of the refusal to continue the insurance.

35. If I sell my car, what will happen to the Insurance Contract that I entered into to cover my civil liability?

If you transfer your vehicle to the ownership or possession of another person by any legal means, the Insurance Contract you have entered into will automatically terminate thirty (30) days from the date of the transfer of ownership to the new owner, and your insurance company is obliged to reimburse you for the unused portion of the insurance premium. Termination of the Contract is carried out for all its parties without any action on the part of the insurance company.

36. What is the principle of payment of the insurance compensation?

The principle of making payments of the insurance compensation is to return the client to the state in which he was before the occurrence of the insured event. The client does not receive any profit from the insurance compensation.

An exception is possible only in the following cases:

• The vehicle can be replaced with a new one in the first year of the insurance, provided that it was purchased new.
• In cases where the vehicle is relatively old and there are no spare parts of the same age for repairing it, the insurance company compensates for the cost of replacing old vehicle parts with new ones.

37. What does the term “invalid conditions” mean in relation to compulsory third party liability insurance and how do invalid conditions affect the compensation for the road traffic victims?

Invalid conditions are the conditions and exceptions on the basis of which the insurance company cannot deny its client insurance compensation to the victim of a road traffic accident that occurred with his participation.

Invalid conditions include:

• Age and physical condition of the driver.
• Vehicle condition.
• Time and place where the accident occurred.
• Vehicle characteristics like its type and volume.
• Any exemption from third party compensation.
• Driving under the influence of alcohol or drugs.
• Restrictions on driving licenses.
• Any violation of the terms of vehicle care.
• The number of passengers (in cases where it is more than the number allowed to ride in the vehicle).

Thus, despite these conditions, the insurance company will be obliged to pay compensation to third parties.

38. What driver's license does your company accept?

Our company can insure the drivers whose driving license is recognized by the Republic of Cyprus. These include:

1) Regular driving licenses of all EU countries.

2) Regular driving licenses issued by the following countries:

United States of America

Australia

Switzerland

Norway

Iceland

Liechtenstein

Japan

Canada

New Zealand

South Africa

Russia

Georgia

Ukraine

Belarus

South Korea

Serbia

United Arab Emirates

Qatar

People's Republic of China

Kingdom of Morocco

Zimbabwe

Apart from that, we can insure as licensed drivers those who hold a valid international driving license issued by the states that are parties to the International Conventions on Road Traffic 1949 and 1968. In this case we will need both an international driver's license and an ordinary driver's license of the country of residence of such drivers.

39. Why do you need a Vehicle Insurance Certificate and is it the only document confirming the existence of a valid Insurance Contract?

The Law requires that every vehicle with a Cyprus registration number be insured for third party liability. Driving without insurance is a criminal offense.

A Vehicle Insurance Certificate is a document confirming that you have the insurance. Failure to present a Vehicle Insurance Certificate at the request of the police within 48 hours is a criminal offense.

In the absence of a Certificate, the document confirming the fact of the vehicle insurance is a temporary letter of guarantee issued by the insurance company (Cover Note).

An Insurance Contract can exist between the client and the insurance company even without the presence of an Insurance Certificate or Cover Note if the criteria for concluding a Contract are met: there is an official insurance offer, confirmation of its acceptance and confirmation of the intention to conclude a Contract. As a rule, the unconditional confirmation of the conclusion of the Insurance Contract is partial or full payment of the cost of insurance, however, even the verbal acceptance of the risk by the representative or underwriter of the insurance company (if there is sufficient evidence) can be recognized by the court as such evidence.

If the Insurance Contract is canceled, the original Insurance Certificate or the original Cover Note must be returned to the insurance company for cancellation. If the Insurance Contract is canceled without returning the Certificate, then the company remains the interested insurer and, in the event of an accident, will have to pay the compensation to the victim.

40. What is a deductible and how is it applied?

A deductible (or insurance deduction) is the amount that the insured pays for each insured event independently. The deductible is widely used when concluding a comprehensive or Full Vehicle Insurance Contract and applies to the damage incurred by the insured person in cases where an accident or other insured event covered by the Contract occurred through the fault of the insured person.

The deductible applies to any damage (defect, theft or fire).

If the vehicle has received several damages as a result of different accidents (different insured events), then the deductible will be applied to each insured event separately.

For example, a vehicle has multiple damages as a result of minor accidents that have occurred:

Damage to the rear bumper of the vehicle as a result of one accident.

Damage to the front bumper of the vehicle from another accident.

From the total amount of compensation that the insurance company will pay to the policy holder for these events, the company will deduct the amount of the deductible twice, since the losses incurred are related to two separate incidents.

41. Are there additional deductibles for young and inexperienced drivers?

When concluding a comprehensive Vehicle Insurance Contract, the insurance company always applies a deductible (on average, the deductible is the largest amount between €200 and 1% of the insured value of the car).

For cars with a value of €30,000 or more upon renewal of insurance, the deductible is adjusted so that the deductible does not exceed 1% of the insured value of the vehicle specified in the Contract. When the insured value of the vehicle decreases, the deductible does not automatically decrease.

Additional deductibles for young and inexperienced drivers:

500 Euro if the vehicle is driven by a person under the age of 21.

350 Euro if the vehicle is driven by a person over 21 and under 25.

250 Euro if the vehicle is driven by a person of 25 years of age or older who has not had a regular driving license for more than 12 months or has a student driving license.

42. Are there any limitation periods for claims related to Vehicle Insurance Contracts?

Such restrictions exist. According to the procedural Legislation:

1. Claims under the Contract can be brought within 6 years from the moment the basis for the claim arises.

2. Claims for civil offenses (liability to third parties) can be brought within 3 years from the date of occurrence of the basis for the claim.

The lawsuit Legislation provides for exceptions for the people who:

• Are younger than 18 years of age (the limitation period for presenting a risk begins when the victim turns 18).
• Are not sane.
• Did not identify the damage in a timely manner due to the fact that they were misled.

43. Are there cases in which the vehicle owner is released from the civil liability to third parties?

The owner of the vehicle does not bear the civil liability to third parties if the victim rode in the vehicle with his own consent and knew or had the reasons to believe that the vehicle was stolen or illegally detained by the driver.

44. How important is the information specified in the vehicle insurance proposal?

This information is very important. The insurance proposal, on the basis of which the insurance risks are assessed and the cost of the insurance is determined, is part of the agreement between the insurance company and the insured person and forms the basis of the Insurance Contract (the main clause of the Contract).

Vehicle insurance is based on the principle of absolute good faith, and in accordance with the main clause of the Contract, the insured guarantees the validity of the facts specified by them in the insurance offer. Based on the principle of absolute good faith, the policyholder is obliged to disclose to the company all important facts that may affect the decision of the insurance company to offer the insurance coverage, apply special conditions or refuse insurance. Intentional non-disclosure of information by the insured person is a violation of the principle of absolute good faith and can lead to the invalidation of the insurance policy from the very beginning.

However, even if the insured violates the principle of absolute good faith, compensation rights of third parties are not violated. For third parties the insurance company remains an interested insurer on the basis of an internal agreement with the mutual investment fund and pays them the amount of insurance compensation, and then collects the paid amount of the insurance compensation from the insured.

45. What territories are covered by the insurance coverage under a Vehicle Insurance Contract?

Usually, the geographical boundaries of a Vehicle Insurance Contract are limited to the territories controlled by the Republic of Cyprus.

However, if you need the insurance coverage throughout the island (including occupied territories and British military bases), you should inform your insurance agent to obtain the coverage.

46. How does the insurance company cover the damage caused as a result of an accident if you insured your vehicle in full?

In the event that damage is caused to your insured vehicle as a result of an accident, the insurance company pays the costs associated with the repair or replacement (whichever is cheaper) of the damaged parts and/or parts of the vehicle within the market value of such repairs and/or details. The insurance company also covers reasonable costs for storing and transporting the vehicle to the workshop.

Vehicle repairs cannot begin without the permission of the insurance company, which must first assess the damage to the vehicle.

When carrying out the repairs, similar components (parts, spare parts, etc.) that are not supplied by the original vehicle manufacturer may be used.

If the vehicle cannot be repaired to an acceptable level, it is considered completely lost. A stolen vehicle is also completely lost (a vehicle that was stolen and not returned within 28 days from the date of the theft).

In the event of a complete loss (loss) of a vehicle, its owner is paid the market value of the vehicle, as estimated by the insurance company, or the minimum amount between the market value of the vehicle and the estimated value of the vehicle declared by its owner (the value specified in the Full Vehicle Insurance Contract).

47. If I have full insurance (CASCO), does the insurance company reimburse the expenses or provide another vehicle for the period when I lose the ability to use my vehicle due to the repairs as a result of an accident?

Yes, the insurance company pays you the cost of renting another vehicle for the period of repairing your vehicle damaged in an accident, at a rate not exceeding 25 Euro per day for a period not exceeding 10 days, if your vehicle can be repaired.

If as a result of an accident your vehicle is completely destroyed and cannot be repaired, the insurance company will not compensate you for these costs.

48. Is the cost of changing the key reimbursed for full vehicle insurance (CASCO)?

In the event of damage to the vehicle's locks or theft of the keys we will reimburse you up to €250 per incident. This does not apply to lost keys.

49. Is the cost of personal belongings reimbursed with full vehicle insurance (CASCO)?

We will pay up to €170 for any claims for loss or damage as a result of an accident, fire or theft of your personal belongings that were in the insured vehicle, with the exception of high-risk items such as mobile phones, money and electronic equipment. In this case, in the absence of supervision, the car must be locked.

50. How is damage to car windows reimbursed for full insurance (CASCO)?

We will replace broken glass in the windshield, sunroof or windows of a vehicle, provided that the vehicle has not been damaged in any other way. The maximum amount we will pay is €800 for any incident. No deductible applies to this refund.

If this limit is insufficient to cover the costs, then an insurance claim can be filed for compensation for the same damage losses, but with the use of a deductible.

51. What is excluded from the insurance coverage in case of full vehicle insurance (CASCO)?

Our CASCO insurance does not cover:

Damage to your vehicle caused by mechanical or electrical damage, short circuit or breakdown, errors in the computer program, violations of computer instructions (except for mechanical damage).

Physical deterioration or decrease in the value of the vehicle.

Damage caused to the tires of the vehicle as a result of braking, breaks and/or punctures (this damage can only be compensated for, among other damage that was caused to the car as a result of an accident).

Decrease in the sales value of a vehicle as a result of the damage caused to it in an accident, regardless of whether the repair was carried out or not.

Loss of the ability to use your vehicle, except for the loss of the ability to use the vehicle for the period of its repair as a result of an accident, which is specifically provided for in the Insurance Contract (see question 47), i.e. the cost of renting a vehicle, taxi or public transport is not covered.

Part of the cost of repair or replacement that improves the condition of the vehicle to a greater extent than its condition before it was damaged or lost (i.e. vehicle improvements are not covered).

Expenses associated with the removal of the vehicle by the police.

Loss or damage to your vehicle that occurred while it was in motion if the vehicle was driven by a driver who was not allowed to drive or the vehicle was used for the purposes not permitted by the restrictions on the use of the vehicle listed in the Insurance Contract.

Damage to your vehicle directly or indirectly caused by an authorized driver who was drunk while driving. Loss of or damage to your vehicle as a result of fraudulent activities.

52. Is it possible to add additional insurance coverage to the third party liability insurance (OSAGO)?

Yes, our Insurance Contracts provide for the possibility of adding certain insurance options to the statutory third party coverage, including:

1. Accident insurance of an authorized driver. The insurance coverage amounts to €8,500 and is payable in case of death or total loss of a body part and/or permanent loss of vision in one or both eyes or permanent complete disability of an authorized driver as a result of an accident. No coverage will be paid if the accident was caused by an authorized driver driving under the influence of alcohol or as a result of suicide or attempted suicide.
2. Coverage of the medical expenses of the official driver or passenger in the amount of €850.

3. Liability insurance of any passenger entering or exiting the insured vehicle to third parties.

4. Insurance in case of driving another car. This coverage does not replace the coverage required by Law to insure any vehicle used in Cyprus.

Coverage is offered when someone is driving a vehicle that does not cover their liability. This coverage is only valid when certain conditions are met:

• Covers the insured persons (individuals only).
• Within geographic boundaries (Cyprus only).
• The vehicle is of the same category (passenger car).
• The vehicle is of the same type (sedan, convertible, double cab, van).
• The vehicle does not belong to the insured, his/her spouse, his/her employer or partner.
• The vehicle is not rented by the insured person, or the persons associated with the above.
• There is no other insurance policy that covers part or all the same liability.

• The insurance ends as soon as the insured gains access to the insured vehicle.

• Windshield damage:

Replacement of a broken windshield, glass in the hatch or windows of the vehicle is carried out provided that the vehicle has not received any other damage. The maximum amount we will pay in connection with any of the above events is €500. The terms of your insurance policy deductible do not apply to this option.

1. Road assistance:

2. Provided by a cooperating road assistance company.

3. Covers mechanical or electrical damage, tire breakage or puncture, accident, lack of oil, fuel or water, or broken ignition.

4. Provided only on public roads on the territory controlled by the Republic of Cyprus and on the British base. * If spare parts are required, the cost is paid by the insured.

5. In the event of a serious breakdown, a service technician will take your vehicle to a workshop of your choice (no distance or region restrictions).

6. If the road assistance company does not answer your call, we will pay you a reasonable towing cost.

7. The maximum gross weight of the vehicle must not exceed 3.5 tonnes.

8. Assistance in road accidents:

Support for the insured in an accident, photographing, collecting evidence, filling out a claim form.

53. Are there any exceptions to the third-party liability insurance (OSAGO)?

Third party liability insurance excludes:

• Responsibility for bodily injury to the driver.
• Liability of an unauthorized driver.
• Liability when using the vehicle for the purposes other than those specified in the restrictions on use.
• Employer's responsibility.
• Liability covered by any other insurance.

Damage to the property owned by the insured or the property in the care of any person covered by this insurance. (That is, the damage caused to the property of the insured and the property of the named drivers is excluded).

Liability to any person who was a passenger in a vehicle and knew or had reasons to believe that the vehicle was stolen or misappropriated.

Liability to any person if at the time of the accident the vehicle was stolen and was not under the control of the insured.

54. Is there a discount protection provided to me for no insurance claims?

Yes, there is such protection. It can be purchased at the conclusion of an Insurance Contract for a small fee. This option protects you when renewing your insurance policy in the event of insurance claims if there are no more than 2 claims within 3 years. The insurance company does not take the insurance claims into account, invoicing you for the insurance services and, when renewing the contract, you get a discount for one additional year. Insurance claims related to the windshield replacement and collected insurance indemnities are not considered insurance claims. The protection of the insurance discount applies only to the vehicle insured under this Insurance Contract, upon renewal of this Contract. The insurance discount protection does not apply to a new vehicle that the insured may want to insure if the vehicle is completely destroyed (that is, cannot be restored).

55. Is there insurance coverage in case the insured vehicle is filled with inappropriate fuel?

Yes, there is such insurance coverage. This option is additional and increases the cost of the insurance. The insurance coverage includes:

1. The cost of transporting the vehicle.

2. The cost of a taxi for transporting the passengers from the garage to the house is up to 50 Euro for an insured event.

3. Expenses for the drainage and disposal - up to EUR 100 per insured event/claim.

4. The cost of renting a car is 2 days * 25 Euro = 50 Euro for an insurance claim.

Exception: The damage that can be caused to the engine due to the use of unsuitable fuel is not covered by the insurance company.

56. In what cases is the insurance coverage not paid?

There are common cases when the insurance coverage is not paid:

• If the vehicle was driven by the drivers who do not have a driver's license required by Law or the drivers who have been deprived of a driver's license.
• Having an agreement.
• Deliberate actions.
• Use of the vehicle on the runway.
• Contamination.
• Radioactive, chemical or biological contamination.
• War.
• Terrorist act.

57. How does insurance coverage work abroad?

Overseas, the insurance policy automatically provides coverage within the mandatory limits of liability that apply:

In each member state of the European Union or

In any other state party to the Multilateral Guarantee Agreement.

A Green Card is not required for the above countries - an Insurance Certificate is sufficient.

In addition to the minimum third party liability coverage, this policy provides the coverage specified in the Insurance Contract for up to 30 days for the insurance period in any country specified above, subject to the following conditions:

Your permanent place of residence is in Cyprus.

Your visit to the countries outside Cyprus does not exceed 30 days.

58. Who can cancel the insurance policy and when is the insurance policy invalid?

The insured person or the insurance company can cancel the insurance policy.

The insured can cancel the insurance policy with 7 days written notice to the insurance company. In this case the insured must return the Insurance Certificate or Cover Note to the company. If no claims have been filed during the insurance period, the insurance company returns the accumulated premium to the insured person.

The insurance company may cancel the insurance policy at any time by sending a written notice to the last known address of the insured person 7 days before the date when the policy is to be terminated. This can happen if the insured has been grossly negligent or has violated the terms and conditions of the insurance policy. The insured is required by Law to return the Insurance Certificate or Cover Note to the company within 48 hours. If the Cover Note or Certificate is lost, the policy holder must submit a loss statement to the insurance company.

The insurance policy is considered invalid as soon as the insured disposes of the vehicle in any way.