Insurance in Famagusta. Affordable insurance in Famagusta.

A complete guide to insurance in Famagusta

In our complete guide to insurance in Famagusta, we will inform you of the various types of insurance available to purchase and what each covers.

We will discuss the coverage details, how much each insurance costs, and present the price ranges of most contracts.

In addition, we will suggest easy ways to lower the overall cost of your insurance in Famagusta, helping you save up to thousands on one insurance policy or allowing you to buy additional inexpensive insurance contracts.

Table of contents

Types of insurance in Famagusta
How much is insurance in Famagusta in 2023?
How to save on your insurance?
Affordable insurance in Famagusta
Online insurance in Famagusta
Best insurance in Famagusta
Insurance in Famagusta quotes

Types of insurance in Famagusta

There are two main categories of insurance types in Famagusta.

Personal insurance
Business insurance

We will now cover the various insurance policies you will see for sale under these two types of insurance.

Personal (individual) insurance policies in Famagusta

Health Insurance
Car Insurance
Home Insurance
Life Insurance
Critical Illness Insurance
Saving Insurance
Boat Insurance
Travel Insurance
Personal Accident Insurance
Income Protection Insurance
Immigration Health Insurance

Health Insurance in Famagusta

Health insurance goes into effect to cover an insured’s medical care expenses if they suffer from a disease, medical condition, or bodily injury accident that requires treatment.

Health Insurance Famagusta

You can find our complete Cyprus health insurance guide on our blog here.

Car Insurance in Famagusta

There are a few main types of motor insurance in Famagusta.

Third party liability insurance
Third party, theft and fire insurance
Comprehensive (full) insurance

Third party liability insurance is required as standard by Cypriot law. The other driver’s expenses, other drivers and passengers in the insured’s vehicle, property damage, injury and death are covered by this insurance.

Third party, fire and theft insurance include the same coverage as third party liability insurance, while it also covers theft and fire damages.

Comprehensive insurance includes the same coverage as both insurances above, while it also covers natural disasters and vehicle damages in case of an accident, no matter who was at fault.

Car Insurance Famagusta

You can find our complete Cyprus car insurance guide on our blog here.

Home Insurance in Famagusta

Various home insurance is available in Famagusta designed for different needs, including the following:

Home insurance
Content insurance
Holiday home insurance
Landlords insurance

Home insurance is designed for homeowners who live in their houses permanently. It covers specific risks, damage, and loss but with certain limits. Additional policies, like all-risk policies, can cover exclusions as necessary for the insured.

Holiday home insurance covers homeowners who temporarily live in their house as a secondary residence. It is ideal for second homeowners who reside in Famagusta while on holiday.

Landlord insurance covers a landlord’s property and protects the property from specific risks. It also contains liability coverage to help with legal expenses.

Content insurance covers a homeowner’s belongings. Most standard contents insurance covers everyday household items.

Home Insurance Famagusta

You can find our complete Cyprus home insurance guide on our blog here.

Life Insurance in Famagusta

Life insurance is designed to protect an insured’s beneficiaries from the financial issues they could leave behind after their death. It can help to pay off debt, final expenses, and more.

Life Insurance Famagusta

You can find our complete Cyprus life insurance guide on our blog here.

Critical Illness Insurance

Critical illness insurance can be priceless during a critical medical event. It quickly goes to work to help pay for expenses connected to a covered illness that requires urgent treatment.

Critical Illness Insurance Famagusta

You can find our complete Cyprus critical illness insurance guide on our blog here.

Private Pension and Saving Plans

This insurance contract is necessary for all Cyprus tax residents, regardless of their permanently residing there or not.

Private Pension and Saving Plans

You can find our complete Cyprus saving insurance guide on our blog here.

Boat Insurance in Famagusta

Yacht insurance covers specific risks associated with boats (plus various watercrafts) and boating accidents, including third-party injuries and property damage.

Boat Insurance Famagusta

You can find our complete Cyprus boat insurance guide on our blog here.

Travel Insurance in Famagusta

Travel insurance is made to cover various risks associated with travelling and to protect the insured from potential financial losses they might face due to these risks.

Travel Insurance Famagusta

You can find our complete Cyprus travel insurance guide on our blog here.

Personal Accident Insurance

Personal accident insurance is made for self-employed people and business people. It can provide compensation for a loss of income as a result of covered risks.

Personal Accident Insurance Famagusta

You can find our complete Cyprus personal accident insurance guide on our blog here.

Income Protection Insurance

Income protection insurance is another essential insurance for self-employed people and businessmen. It can provide cover for temporary or permanent income loss.

Income Protection Insurance Famagusta

You can find our complete Cyprus income protection insurance guide on our blog here.

Immigration Medical Insurance in Famagusta

Immigration insurance is mandatory for anyone immigrating to Cyprus. It’s compulsory cover for all non-EU and most EU citizens who aim to live or work in the country.

Immigration Medical Insurance Famagusta

You can find our complete Cyprus immigration medical insurance guide on our blog here.

Business insurance in Famagusta

Marine Insurance
Cyber Insurance
Keyman Insurance
Group Health Insurance
Business Insurance
D&O Insurance
Employers Liability Insurance
General Public Liability Insurance
Professional Indemnity Insurance

Marine Insurance in Famagusta

Marine cargo insurance helps a company cover any costs associated with damaging or losing goods transported for commercial purposes.

Marine Insurance Famagusta

You can find our complete Cyprus marine insurance guide on our blog here.

Cyber Insurance in Famagusta

Cyber insurance is ideal insurance for companies that manage portions of their business services online. It is indispensable for businesses providing third-party IT services. Most of cyber insurance policies in Famagusta cover also ransomware, social engineering and multimedia liability insurance.

Cyber Insurance Famagusta

You can find our complete Cyprus cyber insurance guide on our blog here.

Keyman Insurance

Keyman insurance is ideal for businesses needing to insure key staff of their company. It can cover the losses caused by interruptions to their business services when replacing a key man.

Keyman Insurance Famagusta

You can find our complete Cyprus keyman insurance guide on our blog here.

Group Health Insurance in Famagusta

Group health insurance is ideal insurance that employers can offer their staff members. It can provide coverage for medical care expenses for accidental bodily injury or disease cases. Both local and international health insurance policies are provided in Famagusta.

Group Health Insurance Famagusta

You can find our complete Cyprus group health insurance guide on our blog here.

Business Insurance in Famagusta

Also known as commercial insurance, business insurance protects a business from various risks and the potentiality of financial loss with various business contracts. It covers many risks, such as accidents, professional errors, cyber issues, and theft.

Business Insurance Famagusta

You can find our complete Cyprus business insurance guide on our blog here.

Directors and Officers Insurance in Famagusta

Directors and Officers insurance (D&O) covers the directors, officers, and executives of a company and protects the company from actual and alleged claims regarding the management of its business.

D&O claims have risen in Cyprus in recent years, so it’s an invaluable insurance to carry. Recently a large international technology company based in Famagusta has faced a lawsuit for contractual dispute from a USA conglomerate.

Directors and Officers Insurance Famagusta

You can find our complete Cyprus D&O insurance guide on our blog here.

Employers Liability Insurance in Famagusta

Employer liability insurance protects business owners from employee work-related claims involving workplace injury or illness.

Employers Liability Insurance Famagusta

You can find our complete Cyprus employers liability insurance guide on our blog here.

General Public Liability Insurance in Famagusta

Public liability insurance goes into effect to help a business cover costs associated with claims made by the general public. It covers property damage, injury, and death expenses.

General Public Liability Insurance Famagusta

You can find our complete Cyprus general public liability insurance guide on our blog here.

Professional Indemnity Insurance in Famagusta

Professional indemnity insurance can protect a company from claims arising from actual or alleged professional mistakes in the management of their business. It can help to cover the cost of legal expenses.

Professional Indemnity Insurance Famagusta

You can find our complete Cyprus professional indemnity insurance guide on our blog here.

How much is insurance in Famagusta in 2023?

The ranges of insurance premiums in Famagusta are listed below for each type of insurance.

Our statistics do not include “outliers” (i.e., extremely high premiums due to unusual conditions).

In addition, we present the value of the cheapest insurance contracts in Famagusta.

Personal insurance costs in Famagusta

Health insurance cost in Famagusta

Average cost for health insurance in Famagusta (annually): €1450
Range of cost for health insurance in Famagusta (annually): €780 - €3950
Cheapest health insurance in Famagusta (annually): €780

To receive a personalised health insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your health insurance within minutes.

Home insurance price in Famagusta

Average cost for home insurance in Famagusta: €235
Range of cost for home insurance in Famagusta: €100 - €1750
Cheapest home insurance in Famagusta: €100

To receive a personalised home insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your home insurance within minutes.

Car insurance cost in Famagusta

Average car insurance cost in Famagusta:

Average cost for third party car insurance in Famagusta: €265
Average cost for comprehensive car insurance in Famagusta: €475

Range of car insurance cost in Famagusta:

Range of cost for third party car insurance in Famagusta: €170 - €450
Range of cost for comprehensive car insurance in Famagusta: €250 - €2500

Cheapest car insurance cost in Famagusta:

Cheapest third party car insurance in Famagusta: €170
Cheapest full comprehensive car insurance in Famagusta: €250

To receive a personalised car insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your car insurance within minutes.

Life insurance cost in Famagusta

Average cost for life insurance in Famagusta: €450
Range of cost for life insurance in Famagusta: €145 - €7000
Cheapest life insurance in Famagusta: €145

To receive a personalised life insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your life insurance within minutes.

Travel insurance cost in Famagusta

Average cost for travel insurance in Famagusta (7-day single trip): €45
Range of cost for travel insurance in Famagusta (7-day single trip): €20 - €250
Cheapest travel insurance in Famagusta (7-day single trip): €20

To receive a personalised travel insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your travel insurance within minutes.

Boat insurance cost in Famagusta

Average cost for boat insurance in Famagusta: €950
Range of cost for boat insurance in Famagusta: €550 - €7000
Cheapest boat insurance in Famagusta: €550

To receive a personalised boat insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your boat insurance within minutes.

Immigration medical insurance cost in Famagusta

Average cost for immigration medical insurance in Famagusta: €150
Range of cost for immigration medical insurance in Famagusta: €80 - €275

Cheapest immigration medical insurance cost in Famagusta:

Plus outpatient expenses in Famagusta: €80
Minus outpatient expenses in Famagusta: €120

To receive a personalised immigration medical insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your medical immigration insurance within minutes.

Personal accident insurance cost in Famagusta

Average cost for personal accident insurance in Famagusta (annually): €450
Range of cost for personal accident insurance in Famagusta (annually): €120 - €1600
Cheapest personal accident insurance in Famagusta (annually): €120

To receive a personalised personal accident insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your personal accident insurance within minutes.

Critical illness insurance cost in Famagusta

Average cost for critical illness insurance in Famagusta (annually): €520
Range of cost for critical illness insurance in Famagusta (annually): €150 - €2000
Cheapest critical illness insurance in Famagusta (annually): €150

To receive a personalised critical illness insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your critical illness insurance within minutes.

Income protection insurance cost in Famagusta

Average cost for income protection insurance in Famagusta (annually): €450
Range of cost for income protection insurance in Famagusta (annually): €120 - €1600
Cheapest income protection insurance in Famagusta (annually): €120

To receive a personalised income protection insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your income protection insurance within minutes.

Business insurance costs in Famagusta

Directors and officers insurance cost in Famagusta

Average cost for directors and officers insurance in Famagusta: €1200
Range of cost for directors and officers insurance in Famagusta: €600 - €20,000
Cheapest directors and officers insurance in Famagusta: €600

To receive a personalised D&O insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your D&O insurance within minutes.

Business insurance cost in Famagusta

Average cost for business insurance in Famagusta: €350
Range of cost for business insurance in Famagusta: €90 - €2,500
Cheapest business insurance in Famagusta: €90

To receive a personalised business insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your business insurance within minutes.

Cyber insurance cost in Famagusta

Average cost for cyber insurance in Famagusta: €900
Range of cost for cyber insurance in Famagusta: €400 - €45,000
Cheapest cyber insurance in Famagusta: €400

To receive a personalised cyber insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your cyber insurance within minutes.

Employers liability insurance cost in Famagusta

Average cost for employers liability insurance in Famagusta: €250
Range of cost for employers liability insurance in Famagusta: €90 - €1,750
Cheapest employers liability insurance in Famagusta: €90

To receive a personalised employers liability insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your employers liability insurance within minutes.

Group health insurance cost in Famagusta

Average cost for group health insurance in Famagusta (monthly/per employee): €125
Range of cost for group health insurance in Famagusta (monthly/per employee): €35 - €450
Cheapest group health insurance in Famagusta (monthly/per employee): €35

To receive a personalised group health insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your group health insurance within minutes.

Professional indemnity insurance cost in Famagusta

Average cost for professional indemnity insurance in Famagusta: €550
Range of cost for professional indemnity insurance in Famagusta: €200 - €12,000
Cheapest professional indemnity insurance in Famagusta: €200

To receive a personalised professional indemnity insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your professional indemnity insurance within minutes.

General public liability insurance cost in Famagusta

Average cost for general public liability insurance in Famagusta: €450
Range of cost for general public liability insurance in Famagusta: €200 - €1,500
Cheapest general public liability insurance in Famagusta: €200

To receive a personalised general public liability insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your general public liability insurance within minutes.

Keyman insurance cost in Famagusta

Average cost for keyman insurance in Famagusta: €450
Range of cost for keyman insurance in Famagusta: €145 - €7000
Cheapest keyman insurance in Famagusta: €145

To receive a personalised keyman insurance quotation, complete our questionnaire. We will send you a quote with an accurate cost of your keyman insurance within minutes.

How to save on your insurance in Famagusta

Advice to save across various insurance policies in Famagusta

Follow our advice outlined here to save money on your insurance policies in Famagusta.

Do not buy insurance from intermediaries because they charge intermediary fees.
Opt out of unuseful insurance options if they do not accurately represent your personal or professional needs.
If you are an expatriate, seek insurance for expatriates by specialised insurance companies, such as Pitsas Insurance.
In Cyprus, most insurance providers allow you to have a deductible (or excess). By raising the amount of your deductible, you can save money.
If you are insuring your family, you can avoid paying a contract issuance fee per individual contract by buying a family plan.
Bundle your policies or buy various insurance policies from one provider to receive what’s known as a multiple policies discount.

How to reduce the overall cost of your health insurance policy in Famagusta

Opt for your employer’s group health insurance program if possible, as it’s cheaper than a standard individual contract.
Choose to get insured by a local insurance company if you have lived consecutively in Cyprus for over six months. It’s cheaper than getting insured by an international company.
Don’t choose an insurance policy with outpatient expenses if you are registered in the GESY (the general healthcare system of Cyprus).
Choose an insurance company that offers medical insurance through an extended range of clinics in Cyprus. If not, you may have to pay for your health care expenses in advance, which could be a problem in case of expensive treatment.

How to reduce the overall cost of your house insurance policy in Famagusta

If you have a housemaid, her mandatory employer’s insurance can go under your home policy at a cheaper cost.
Buy a home insurance policy that covers all risks. These contracts cost more but cover 25% more claims.
Store your expensive items in a safe to receive a discount on your policy.
Buy a dedicated holiday home or landlord insurance contract if you rent a property. These contracts cost less than standard home plans by around 20% and contain specialised coverage.
Declare any expensive items on your home insurance contract separately, such as art, documenting the item’s market value.
Install alarms like burglar and smoke alarms in your home to cut costs on your premium by 5% - 10%.
Note your belongings in an itemised list for your home’s content insurance application. This list will cut your insurance costs and prepare you in case of a claim.

How to reduce the overall cost of your car insurance policy in Famagusta

Don’t use your local driving licence to get insured; get a Cypriot one instead. The Cypriot licence will guarantee you get cheaper car insurance.
Present evidence of a clean driving record using your previous insurer’s non-claim history document. You can receive a discount.
If you use multiple vehicles, insure them all with one insurance company. You will receive an “additional car discount”.
Declare those who will drive your vehicle on your insurance rather than enabling everyone possible to drive it.
Pitsas Insurances can insure non-EU nationals with their local driving licences very cheaply.
Bundle your motor insurance with your house insurance. You will receive an instant discount.

How to reduce the overall cost of your life insurance policy in Famagusta

Acquire a life insurance contract in your youth and good health when it’s cheapest.
Choose decreasing term life over standard term life insurance if you have a mortgage.
If you do not want life insurance savings and a cash value as part of your plan, acquire term life instead.

How to reduce the overall cost of your travel insurance policy in Famagusta

Pick an annual travel policy. Annual policies include discounts.
Avoid travel agents and buy insurance from a standard insurance provider instead.

How to reduce the overall cost of your boat insurance policy in Famagusta

If you only use your watercraft in a certain region, limit the navigable waters on your boat insurance contract to that area.
Keep a record of how you are maintaining your watercraft. You can lower your premiums by ensuring your boat is in good repair.
If you don’t use your watercraft for periods of time, ask your insurer about a discount for those months you don’t use your watercraft.

How to reduce the overall cost of your immigration health insurance policy in Famagusta

Choose a family insurance plan instead of an individual contract. Family plans come with a discount, and individual ones include an issuance fee per contract.
Ask your insurance provider to start your contract on the same day as your immigration appointment in Cyprus.
As immigration insurance is a standardised government policy, choose the provider with the lowest price.

How to reduce the overall cost of your directors & officers insurance policy in Famagusta

Choose Cyprus as the location for your contract.
Ensure you answer the application form correctly to ensure you are correctly covered.
Specify the territorial limits to where you provide business services to decrease your premium.
Drop coverages that may be unnecessary for your needs, e.g. employment practices liability.
If you have a professional indemnity insurance contract, ask to bundle a D&O contract with it.

How to reduce the overall cost of your business insurance policy in Famagusta

If you work from home remotely, choose homeowner insurance that can cover your business equipment.
As part of your business contract, pick the minimum required covered amount for employers liability insurance, which is €160,000.
Choose a small business contract as a small business owner. These contracts are significantly cheaper.
Choose to bundle all of your business coverages under one policy for cheaper insurance. A standard business contract in Cyprus contains employers liability insurance, content insurance, product liability, and premises public liability insurance.

How to reduce the overall cost of your cyber insurance policy in Famagusta

Don’t pick optional coverages that do not align with what you need, e.g. phone hacking.
Recruit data protection officers to resolve your cybersecurity issues, lessening the need for additional cyber cover.
Specify the territorial limits to where you provide business services to decrease your premium.
Implement extra cyber security to lower your cyberattack risks, e.g. using multi-factor authentication across your business servers.
Schedule dedicated training programs for your employees to equip them to handle a cyber attack, reducing your company’s need for additional cover.

How to reduce the overall cost of your professional indemnity insurance policy in Famagusta

Choose Cyprus as the location for your contract.
Specify the territorial limits to where you provide business services to decrease your premium.
Ask freelancers you work with to buy professional indemnity insurance for themselves.
Clearly state your business activities on your insurance application. Your insurance underwriters can then tailor your cover accurately and minimise the possibility of overinsuring you incorrectly.

Affordable insurance in Famagusta

Pitsas Insurances are one of Cyprus’s leading insurance providers for expatriates and international companies.

Reputable international and local underwriters cooperate with our company, making us one of the most trusted insurance providers in the country.

Due to the number of contracts in our care and our ever-expanding team, we can find the best insurance deals for our customers.

Moreover, we provide additional discounts on our underwriter’s premiums, making us an affordable choice.

Cheap Insurance in Famagusta

Buying everything you need cheaply and securely at Pitsas Insurances is easy. You can acquire the cheapest insurance in Famagusta with our company.

Our company’s benefits outweigh the competition, and our insurance contracts have fewer exceptions than comparable ones in the country.

Online insurance in Famagusta

Pitsas Insurances is a reputable physical and online insurance provider, and we are the largest online insurance provider in Cyprus.

We took more of our company’s services online in 2004 to help our customers access more insurance products with ease.

Today, thanks to our lower overhead costs, our insurance premiums online are lower than other insurance providers.

We enable our clients to purchase insurance from us in our offices and online. Clients are welcome to visit our office for a consultation, and we also provide consulting over video conferencing free of charge.

Communication is of paramount importance to our team. One of our friendly insurance agents will be assigned to handle your account with you, and you can count on us without fail in case of a claim.

Our friendly insurance agents are trained to provide the best customer care, while our security team ensures to keep your personal data safe.

At Pitsas Insurances, we believe in developing relationships with clients built on loyalty. All of our clients achieve their financial goals with our support.

Best insurance in Famagusta

The best insurance in Famagusta depends on what you need from your coverage. Therefore, we need to find the best insurance contract suited to you.

To ensure you receive the best insurance, our consultants carefully assess your unique business or personal needs with the details you provide us. We work within what you require and your financial allowance.

We utilise a precise system to understand the base number of terms your contract must include to ensure you are correctly covered.

For well-rounded coverage, we also recommend ways to increase your protection and offer you optional coverage or terms.

Insurance in Famagusta quotes

Pitsas Insurances is one of Cyprus’s oldest and most renowned insurance companies and has been operating in Famagusta since 1985.

We work alongside trusted underwriters both locally and worldwide and can swiftly prepare quotes for every insurance product you need.

For more information about our services and tips on acquiring the best insurance in Cyprus, visit our website.

Pitsas Insurances Team