Insurance in Cyprus in 2025. How to save money on insurance in Cyprus.
December 22, 2023
Ian Westwood
December 22, 2023
Ian Westwood
In this comprehensive insurance guide, we will cover the whole range of individual and business contracts provided in Cyprus.
We will also present the price range of insurance products, including the average and minimum cost of most insurance contracts.
We will also give you tips on how to decrease the cost of your insurance contracts without compromising the quality of your coverage.
Table of contents
The types of insurance policies available in Cyprus are classified under two main umbrella terms:
We will introduce these two types of insurance policies in this section of our guide.
Life insurance is made to protect your loved ones from the possibility of unexpectedly losing you and the subsequent financial losses they may face.
You will be provided with peace of mind, while your loved ones will be backed by financial security to pay off debts, their living expenses, medical bills or your final expenses.
Life insurance policies in Cyprus
To learn more about life insurance in Cyprus, see our complete guide here.
Various types of home insurance products are available in Cyprus, all designed to protect your property, including the following:
Content insurance
Home and contents insurance (or personal property insurance) is designed to protect your home or belongings from any damages.
Most contents insurance in Cyprus protects most common household items, including electrical items, furniture, and personal belongings.
Homeowners insurance
Standard home insurance is designed to protect homeowners who live in their houses permanently, and it covers specific damages and losses.
Most standard home policies have limits. Separate policies are designed to cover exclusions, such as all-risk and professional equipment insurance.
Holiday home insurance
Holiday home insurance (or second home insurance) provides similar coverage to standard home insurance but only covers secondary residence places.
This insurance is ideal for those with holiday homes in Cyprus who temporarily live there for part of the year.
Third party liability insurance is obligatory for holiday home owners in Cyprus.
Landlords insurance
This insurance product is designed to protect a landlord’s property which is being rented out, and it contains personal liability coverage.
Liability coverage will help you with legal expenses as a landlord if you face a lawsuit for damages or injuries.
Third party liability insurance is obligatory for landlords in Cyprus.
Home insurance policies in Cyprus
Read our complete guide to property insurance in Cyprus here.
There are three categories of car insurance in Cyprus.
Third-party liability car insurance in Cyprus
This car insurance product is a legal requirement in Cyprus.
Third-party liability exclusively covers the other driver’s expenses resulting from a car accident and third-party property damage, injury and death.
Others who are in your vehicle at the time of an accident are also covered.
Third-party, fire, and theft car insurance in Cyprus
Third-party, fire and theft coverage protects you against everything that standard third-party liability insurance does with some additional protection.
As its title suggests, this coverage can pay for damage expenses if your vehicle is stolen or damaged in a fire.
Comprehensive car insurance in Cyprus
Comprehensive car insurance in Cyprus offers the same coverage as the previous policies, while it also covers natural disasters.
Regardless of who was responsible, this coverage will pay for vehicle damages if you are involved in a car accident.
Car insurance in Cyprus
To read our complete guide about car insurance in Cyprus, see here.
Health insurance is designed to cover your healthcare expenses for cases of bodily injury, accidents or disease.
Healthcare expenses are sometimes paid for upfront by an insurance company, while in other cases, the insured needs to pay and be compensated by the insurance company afterwards.
Health insurance in Cyprus
To read more about the health insurance options in Cyprus, see here.
Critical illness coverage is invaluable to have during an unexpected circumstance that calls for urgent healthcare.
This coverage will help to pay for healthcare costs if you are diagnosed with an illness that requires urgent medical attention and costly treatment.
Critical illness insurance in Cyprus
To read more about critical illness insurance options in Cyprus, see here.
Income protection insurance is designed for self-employed people and businessmen.
This indispensable coverage can provide a stable source of income if you temporarily cannot work or are permanently incapacitated to do so.
Income protection insurance in Cyprus
To learn more about income protection insurance in Cyprus, see here.
Personal accident insurance is another invaluable insurance product for those who are self-employed and for businessmen.
This coverage can make up for earnings that could be lost if you become unable to work, whether that’s temporarily or permanently.
Personal accident insurance in Cyprus
Read our complete guide to personal accident insurance in Cyprus here.
Anyone planning on moving to Cyprus will need to buy immigration insurance.
Immigration medical insurance is compulsory for all non-EU citizens who are applying for any type of residency status and for most EU citizens who intend to live or work in Cyprus.
Immigration medical insurance in Cyprus
Read our complete guide to immigration medical insurance policies in Cyprus here.
This insurance contract is a must for everyone who is a tax resident of Cyprus, regardless of whether they are domiciled in the country.
Savings insurance and private pensions in Cyprus are the only independent saving plans that the tax authorities accept as valid tax exemptions.
Saving Insurance in Cyprus – Private Pensions
Read our complete guide about this insurance option here.
Travel insurance is designed to help pay for certain losses and damages that could arise while travelling.
The covered losses and damages range from minor issues, including luggage delays and missed connections, to more serious ones, such as critical illnesses and injuries.
Travel insurance in Cyprus
To read our complete guide to travel insurance in Cyprus, see here.
Boat insurance works to protect you against liability and damages if you experience a boating accident, which includes third-party injury or damage to another’s property.
Many types of watercraft are covered by boat insurance, such as motorboats, sailboats, jet boats, and inflatable boats, regardless of how they’re used (i.e. if they’re private or commercial).
Boat insurance in Cyprus
To read our complete guide to boat insurance in Cyprus, see here.
Cyber insurance is highly recommended for companies that carry out work online and handle their clients’ or customers’ sensitive data (i.e. credit card data, tax records, or medical records).
It’s also an indispensable product for companies providing technology services to third parties.
Cyber insurance in Cyprus
To learn more about cyber insurance in Cyprus, see our complete guide here.
Directors and officers insurance works to protect you or your company from actual or alleged wrongful acts in the management of your company. It’s an invaluable insurance product in Cyprus.
D&O insurance is made to protect companies and their executives and covers legal costs, settlements, and more fees associated with D&O claims.
D&O insurance in Cyprus
To learn more about D&O insurance in Cyprus, see our complete guide here.
Keyman insurance is designed to cover the cost of employees who are difficult to replace. The term “key man” refers to the key men of a company, i.e. the most valuable employees.
When businesses lose core employees, they face interruptions to their services. Key man coverage aims to mitigate any financial setbacks as a result of losing key team members.
Keyman insurance in Cyprus
To read our complete guide to keyman insurance in Cyprus, see here.
Business insurance, otherwise known as commercial insurance, is invaluable for businesses to financially protect themselves against unexpected events and financial losses.
Business insurance is designed to cover risks such as accidents, theft, property damage, professional errors, cyber-attacks and lawsuits.
Business insurance in Cyprus
To read more about business insurance in Cyprus, see our complete guide here.
Group health insurance is a health insurance option that is provided by an employer to its employees. Healthcare expenses are covered by group health insurance in case of disease or accidental bodily injury.
Healthcare expenses that require hospitalisation (i.e. inpatient expenses) are included as part of group plans. They also typically include an outpatient option.
Group health insurance in Cyprus
To read our complete guide to group health insurance in Cyprus, see here.
Employers liability insurance protects business owners in Cyprus against employee work-related illness or injury claims and lawsuits.
Your business could be responsible for covering legal costs, such as attorney fees, lawsuits, and settlements, in the event of claims without this insurance.
Employers liability insurance in Cyprus
To read our complete guide to employers liability insurance, see here.
General public liability insurance will financially protect you against claims made by the general public, whether that’s your customers, suppliers or partners.
This business insurance helps to cover medical costs and other expenses arising from injuries, or even death, and property damage that involves your business.
General public liability insurance in Cyprus
To read our complete general public liability insurance guide, visit our website here.
If your company faces a lawsuit for professional mistakes, professional indemnity insurance can protect you from paying legal costs and potential compensation fees on your own.
Regardless if these are actual or alleged professional mistakes, legal defence protection can be a lifeline for your business in any case.
Professional indemnity insurance in Cyprus
See here to read our complete guide to professional indemnity insurance in Cyprus.
Marine insurance is designed to cover the damage or loss of various covered goods and property that are being transported from one place to another.
The name of this insurance is slightly misleading as these goods can be transported in various ways, such as by air, land, as well as sea.
Marine insurance in Cyprus
To learn more about marine insurance in Cyprus, see our complete guide here.
Here are the ranges of premium costs in Cyprus for each type of insurance.
Our statistics exclude outliers (i.e. costly premiums resulting from abnormal conditions).
Life insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your life insurance, complete our questionnaire.
Home insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your home insurance, complete our questionnaire.
Car insurance in Cyprus cost
Average:
Range:
Minimum:
To receive a tailored quote with an accurate cost of your car insurance, complete our questionnaire.
Health insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your health insurance, complete our questionnaire.
Critical illness insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your critical illness insurance, complete our questionnaire.
Income protection insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your income protection insurance, complete our questionnaire.
Personal accident insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your personal accident insurance, complete our questionnaire.
Immigration medical insurance in Cyprus cost
Minimum immigration medical insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your immigration medical insurance, complete our questionnaire.
Travel insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your travel insurance, complete our questionnaire.
Boat insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your boat insurance, complete our questionnaire.
Cyber insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your cyber insurance, complete our questionnaire.
D&O insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your D&O insurance, complete our questionnaire.
Keyman insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your keyman insurance, complete our questionnaire.
Business insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your business insurance, complete our questionnaire.
Group health insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your group health insurance, complete our questionnaire.
Employers liability insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your employers liability insurance, complete our questionnaire.
General public liability insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your general public liability insurance, complete our questionnaire.
Professional indemnity insurance in Cyprus cost
To receive a tailored quote with an accurate cost of your professional indemnity insurance, complete our questionnaire.
How to save on insurance in Cyprus
Here are some tips to save on various insurance contracts in Cyprus.
How to reduce your life insurance cost in Cyprus
How to reduce your house insurance cost in Cyprus
How to reduce your car insurance cost in Cyprus
How to reduce your health insurance cost in Cyprus
How to reduce your immigration health insurance cost in Cyprus
How to reduce your travel insurance costs in Cyprus
How to reduce your boat insurance cost in Cyprus
How to reduce your cyber insurance cost in Cyprus
How to reduce your directors & officers insurance cost in Cyprus
How to reduce your business insurance cost in Cyprus
How to reduce your professional indemnity insurance cost in Cyprus
Pitsas Insurances is one of the largest insurance providers in Cyprus and a leading choice for expatriates and international companies in the country.
We work with the most prestigious underwriters internationally and all underwriters locally based in Cyprus.
Due to the number of contracts we handle alongside our expert team members, we can acquire the most affordable insurance deals for our clients.
We make affordable insurance even cheaper by giving generous discounts to our customers on our underwriter’s predetermined premiums.
Pitsas Insurances can find you the most affordable and cheap insurance in Cyprus, and the whole process can take place online if preferred.
Pitsas Insurances is a key player in the online insurance market in Cyprus. We sell the most affordable insurance contracts with the most attractive deals.
We have moved more of our services online since 2004, allowing us to provide our clients with the option of buying our insurance products easily from home.
Moreover, we can provide you with an outstanding customer service experience online. We look forward to hearing from you if you need our assistance.
We use the highest quality security measures to guarantee your personal data is safe and intend to keep it that way.
Through the use of video calls and video conferencing, we provide free online consulting for ease of communication.
We also keep certain traditions going here, and we are more than an online provider since we are a “phygital” company. Our clients are welcome to the office for face-to-face consultations.
We ensure our clients don’t interact with bots handling their accounts at any step of the insurance buying process, especially during claims.
You are guaranteed that a real insurance consultant will guide you through and uncomplicate the process of receiving any compensation you are owed.
At Pitsas Insurances, strong interpersonal relationships are our company’s foundation, and we consider our customers as friends.
We invest a significant amount of time to help you achieve your financial aims.
Pitsas Insurances was established in 1985 and has become a prominent insurance provider in Cyprus since it first opened its doors.
We cooperate with the best local and international underwriters to prepare quotes for our clients and can easily present quotes for any type of coverage that interests you.
To read more about our insurance offerings and for more Cyprus insurance policies, visit our website.
Why choose Pitsas Insurances to compare insurance products in Cyprus?
We sign insurance contracts with our clients both online and physically in our offices.
As a benefit of our low operating costs, we can insure you at lower premium prices than other insurance providers in the country.
Our experienced insurance professionals can help you save money while finding you the correct contract without unnecessary coverage, which can also help to lower costs.
In addition, we offer various offers and discounts for our customers.
Pitsas Insurances can help you find your ideal contract. Our insurance consultants analyse your needs and budget with the details you provide to find you the best insurance option in Cyprus.
We use a systematic approach, starting with gauging the minimum number of terms that would be best for your policy.
We then analyse the requirements of those you do business with to ensure you are adequately covered for your needs.
To create the best insurance package, we also find optional terms to suggest for your needs that can help increase your protection.
We can help you acquire the most affordable contract in Cyprus, and ours have fewer exceptions than our competitor’s comparable ones.
With the cooperation of more international underwriters than any other insurance company in Cyprus, Pitsas Insurances are equipped to find you the best insurance deals.
Contact us for more details here and visit our website for more insurance products.
Pitsas Insurances Team