Insurance in Larnaca. Affordable insurance in Larnaca.

A complete guide to insurance in Larnaca

Our complete guide to insurance in Larnaca will briefly highlight the various types of personal and business insurance contracts you can buy in the city.

We will also present what you can expect to pay for each contract, including the ranges, averages and minimums of most, and suggest easy ways to decrease the cost of your insurance. You might save hundreds or even thousands by following our advice.

Table of contents

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

Types of insurance in Larnaca

You will find two broad categories of insurance in Larnaca.

Personal insurance policies
Business or Professional insurance policies

In the following section of our guide, we will briefly introduce the various contracts you can buy in Larnaca under these two types of insurance.

Personal insurance policies in Larnaca

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

Health Insurance

Health insurance covers an insured’s medical care expenses in the event of a medical condition, disease or bodily injury accident.

Health Insurance in Larnaca

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

Home Insurance

Numerous types of home insurance policies are sold in Larnaca, all are suited to different needs and include the following:

Home insurance
Holiday home insurance
Landlords insurance
Content insurance

Standard home insurance is designed for homeowners who permanently live in their houses in Larnaca and covers specific risks. Standard policies come with limits. Separate policies like all-risk and professional equipment insurance can cover exclusions.

Holiday home (or second home insurance) covers property that is temporarily lived in as a secondary place of residence. It is ideal for people who reside in Larnaca while on holiday.

Carrying third party liability insurance is obligatory as a holiday home owner in Cyprus.

Landlord insurance protects a rented property from specific risks and contains liability coverage to help with legal expenses.

Carrying third party liability insurance is obligatory as a landlord in Cyprus.

Content insurance protects the belongings inside of a home. Most home and contents insurance covers common household items.

Home Insurance in Larnaca

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

Car Insurance

There are three main categories of car insurance in Larnaca.

Third-party liability
Third-party, fire and theft
Comprehensive

Third-party liability is required by Cypriot law. It covers the other driver’s expenses, the other drivers and passengers in your vehicle, third-party property damage, injury and death.

Third-party, fire and theft covers what standard third-party liability insurance does, and theft and fire damages.

Comprehensive insurance offers the same coverage as the above, while it also covers natural disasters. It also covers vehicle damages in case of an accident, regardless of who was at fault.

Car Insurance in Larnaca

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

Life Insurance

Life insurance protects an insured’s beneficiaries from the potentiality of their death and the financial issues that may cause. It can help to pay off debts and any other expenses.

Life Insurance in Larnaca

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

Travel Insurance

Travel insurance works to cover various risks and to protect the insured from the possible financial losses associated with travelling claims.

Travel Insurance in Larnaca

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

Boat Insurance

Boat insurance covers specific damages and losses in the event of a watercraft accident, including third-party injuries and any damage caused to another party’s property.

Boat Insurance in Larnaca

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

Immigration Medical Insurance

Anyone moving to Cyprus must acquire an immigration insurance policy. It’s compulsory insurance for all non-EU nationals and most EU nationals intending to live or work in Cyprus.

Immigration Medical Insurance in Larnaca

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

Personal Accident Insurance

Personal accident insurance is tailored for self-employed people and people in business. It can compensate for a loss of income due to covered risks.

Personal Accident Insurance in Larnaca

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

Critical Illness Insurance

Critical illness insurance is invaluable during an unforeseen medical event. It quickly goes to work to help pay for expenses related to an illness that requires urgent medical treatment.

Critical Illness Insurance in Larnaca

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

Saving Insurance

This insurance contract is indispensable for all tax residents in Cyprus, whether or not they are permanently domiciled there.

Saving Insurance - Private Pensions in Larnaca

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

Income Protection Insurance

Income protection insurance is another invaluable product for self-employed people and businessmen. It can cover a temporary or permanent loss of income.

Income Protection Insurance in Larnaca

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

Business insurance policies in Larnaca

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

D&O Insurance

D&O insurance (directors and officers insurance) can protect a company from claims arising from the management of their business, whether actual or alleged.

It’s invaluable insurance to carry in Cyprus because D&O claims have increased in the past few years.

D&O Insurance in Larnaca

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

Business Insurance

Business insurance (sometimes called commercial insurance) protects a business from numerous risks and potential financial losses. It covers risks such as professional errors and theft.

According to the Insurance Institute of Cyprus 25% of businesses in Larnaca possess building and contents insurance (2023).

Business Insurance in Larnaca

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

Cyber Insurance

Cyber insurance is suited for companies that manage aspects of their business services online. It is also an indispensable insurance for businesses that provide IT services.

Cyber Insurance in Larnaca

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

Marine Insurance

Marine insurance helps to cover costs related to the damage or loss of goods being transported by a company for commercial purposes.

Marine Insurance in Larnaca

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

Employers Liability Insurance

Employers liability insurance works to protect business owners from employee work-related injury or illness claims and potential lawsuits.

Employers Liability Insurance in Larnaca

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

Group Health Insurance

Group health insurance is medical insurance provided by employers for their staff members. It can provide coverage for health care expenses for cases of accidental bodily injury or disease.

Group Health Insurance in Larnaca

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

Professional Indemnity Insurance

Professional indemnity insurance works to protect a company from actual or alleged professional mistakes in managing their business and helps pay for legal expenses.

Professional Indemnity Insurance in Larnaca

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

General Public Liability Insurance

Public liability insurance can help businesses cover the costs associated with claims against them. It can pay for expenses resulting from property damage, injuries, or even death.

General Public Liability Insurance in Larnaca

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

Keyman Insurance

Keyman insurance is ideal for companies who want to insure key employees and those who can be hard to replace. It can financially cover losses caused by business service interruptions.

Keyman Insurance in Larnaca

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

How much is insurance in Larnaca in 2023?

The range of insurance premiums in Larnaca is listed below for each type of insurance.

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

Personal insurance costs in Larnaca

Health insurance cost in Larnaca

Average health insurance (annually): €1450
Range of health insurance (annually): €780 - €3950
Minimum health insurance (annually): €780

To receive a tailored health insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Home insurance cost in Larnaca

Average home insurance: €235
Range of home insurance: €100 - €1750
Minimum home insurance: €100

To receive a tailored home insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Car insurance cost in Larnaca

Average car insurance cost in Larnaca:

Average third party car insurance: €265
Average comprehensive car insurance: €475

Range of car insurance cost:

Range of third party car insurance: €170 - €450
Range of comprehensive car insurance: €250 - €2500

Cheapest car insurance in Larnaca:

Minimum third party car insurance: €170
Minimum comprehensive car insurance: €250

To receive a tailored car insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Life insurance cost in Larnaca

Average life insurance: €450
Range of life insurance: €145 - €7000
Minimum life insurance: €145

To receive a tailored life insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Travel insurance cost in Larnaca

Average travel insurance (7-day single trip): €45
Range of travel insurance (7-day single trip): from €20 - €250
Minimum travel insurance (7-day single trip): €20

To receive a tailored travel insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Boat insurance cost in Larnaca

Average boat insurance: €950
Range of boat insurance: €550 - €7000
Minimum boat insurance: €550

To receive a tailored boat insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Immigration medical insurance cost in Larnaca

Average immigration medical insurance: €150
Range of immigration medical insurance: €80 - €275

Minimum immigration medical insurance cost in Larnaca:

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

To receive a tailored immigration medical insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Personal accident insurance cost in Larnaca

Average personal accident insurance (annually): €450
Range of personal accident insurance (annually): €120 - €1600
Minimum personal accident insurance (annually): €120

To receive a tailored personal accident insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Critical illness insurance cost in Larnaca

Average critical illness insurance (annually): €520
Range of critical illness insurance (annually): €150 - €2000
Minimum critical illness insurance (annually): €150

To receive a tailored critical illness insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Income protection insurance cost in Larnaca

Average income protection insurance (annually): €450
Range of income protection insurance (annually): €120 - €1600
Minimum income protection insurance (annually): €120

To receive a tailored income protection insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Business insurance costs in Larnaca

Directors and officers insurance cost in Larnaca

Average directors and officers insurance: €1200
Range of directors and officers insurance: €600 - €20,000
Minimum directors and officers insurance: €600

To receive a tailored directors and officers insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Business insurance cost in Larnaca

Average business insurance: €350
Range of business insurance: €90 - €2,500
Minimum business insurance: €90

To receive a tailored business insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Cyber insurance cost in Larnaca

Average cyber insurance: €900
Range of cyber insurance: €400 - €45,000
Minimum cyber insurance: €400

To receive a tailored cyber insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Employers liability insurance cost in Larnaca

Average employers liability insurance: €250
Range of employers liability insurance: €90 - €1,750
Minimum employers liability insurance: €90

To receive a tailored employers liability insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Group health insurance cost in Larnaca

Average group health insurance (per employee/monthly): €125
Range of group health insurance (per employee/monthly): €35 - €450
Minimum group health insurance (per employee/monthly): €35

To receive a tailored group health insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Professional indemnity insurance cost in Larnaca

Average professional indemnity insurance: €550
Range of professional indemnity insurance: €200 - €12,000
Minimum professional indemnity insurance: €200

To receive a tailored professional indemnity insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

General public liability insurance cost in Larnaca

Average general public liability insurance: €450
Range of general public liability insurance: €200 - €1,500
Minimum general public liability insurance: €200

To receive a tailored general public liability insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

Keyman insurance cost in Larnaca

Average keyman insurance: €450
Range of keyman insurance: €145 - €7000
Minimum keyman insurance: €145

To receive a tailored keyman insurance quote with an accurate figure of what it will cost, complete our online questionnaire.

How to save on your insurance in Larnaca

Advice to save on various insurances in Larnaca

Follow our advice below to save on your insurance in Larnaca.

Remove redundant insurance terms from your contract if they do not accurately represent your personal or professional needs.
Skip buying insurance from intermediaries like lawyers or accountants because they always charge an intermediary fee.
Choose a family plan if you can instead of buying individual contracts to avoid paying the contract issuance fee for each. Plus, you will get a family plan discount.
Most insurance contracts in Cyprus allow a deductible as part of your contract. By raising the deductible amount, you can save money.
Buy various insurance policies (or bundle your policies) with only one provider to receive a multiple policies discount.
If you are an expatriate, seek contracts for expatriates from companies with specialised insurance.
Licensed insurance consultants at Pitsas Insurances can analyse your needs for free and advise you on saving money. Contact us at [email protected], Tel. 70070500 (RU/EN).

How to reduce the cost of your health insurance in Larnaca

Choose to get insured by a local provider instead of an international one if you have lived in Cyprus for over six months within one year.
Get insured under your employer’s group health insurance program if you have the opportunity, as it is always cheaper.
Choose an insurance company offering medical insurance backed by an extended network of clinics in Cyprus. You may have to pay in advance for your health care expenses if not, which might cause financial problems in case of expensive treatment.
As a GESY registered member (the general healthcare system of Cyprus), choose an insurance policy without outpatient expenses.
Choose companies that enable insurance for those with past conditions that occurred five years ago.

How to reduce the cost of your house insurance in Larnaca

Choose an all-risk home policy. Initially, these contracts are slightly more expensive but cover 25% more claims.
If you have a housemaid, cover her employer’s liability policy under your home insurance at a lower premium.
Buy a specialist holiday home or landlord insurance plan if you own a rental property, as they have dedicated terms and are much cheaper than standard plans by around 20%.
Keep your expensive belongings in a safe to automatically receive a discount.
Insert alarm systems in your home to lower your premium, on average, by 5% - 10%.
List all your belongings on a document for your home’s content insurance application to reduce costs and prepare yourself for a claim.
Declare expensive items on your contract separately, such as fine art or jewellery, presenting the item’s market value.

How to reduce the cost of your car insurance in Larnaca

If you have more than one vehicle, insure all of them with one insurance provider to receive an “additional car discount”.
Acquire a Cypriot driving licence to gain cheaper car insurance.
Prove you have a clean driving record to receive a discount by using your non-claim history document from your previous car insurance company.
Don’t enable the term that all drivers from 25 to 70 years old can drive your vehicle. Instead, exclusively declare those who will, including their ages and experience level.
Bundle your car insurance with your home insurance to receive an instant discount.
Pitsas Insurances can cheaply insure non-EU nationals with their local driving licences.

How to reduce the cost of your life insurance in Larnaca

If you are not interested in having savings and a cash value component as part of your insurance, acquire term life which is much cheaper than whole life insurance.
Purchase life insurance when you are healthy and young, as that is when it’s cheapest.
Choose decreasing term life insurance if you have a mortgage instead of term life insurance.

How to reduce the cost of your travel insurance in Larnaca

Acquire an annual travel policy.
Avoid travel agents and buy insurance from a regular provider.

How to reduce the cost of your boat insurance in Larnaca

Provide your insurer with an updated report specifying your maintenance to keep your watercraft in good repair.
Limit the navigable waters of your insurance to only the countries you will use your watercraft, rather than getting covered for a whole region.
Drop the insurance coverage you don’t need and inquire about a layup discount for the months your watercraft is in storage.

How to reduce the cost of your immigration health insurance in Larnaca

Make sure your insurance contract begins on the same day as your appointment with the immigration authorities in Cyprus.
Choose a family policy instead of an individual one because it is always cheaper and comes with a discount.
Choose the provider with the lowest immigration health insurance premium, as it’s a standardised government policy with identical terms across Cyprus.

How to reduce the cost of your directors & officers insurance in Larnaca

Select Cyprus as the jurisdiction for your contract.
If you already carry professional indemnity insurance, add directors & officers insurance coverage under the same contract.
Answer the application form questions analytically to ensure you are correctly covered.
Automatically decrease the insurance cost by specifying your territorial limits.
Drop additional coverages that may be unnecessary, such as employment practices liability.

How to reduce the cost of your business insurance in Larnaca

For employers liability insurance, pick the minimum required covered amount, which is €170,000.
If you work from home as a remote self-employed person or otherwise, choose a home insurance package that can also insure your professional or business equipment.
Choose to bundle your business coverages under one policy for cheaper insurance. The standard business contract in Cyprus includes content insurance, employers liability insurance, product liability, and premises public liability.
Get a dedicated small business contract if you are a small business owner, as they are significantly cheaper.

How to reduce the cost of your cyber insurance in Larnaca

Specify the territorial limits to only those countries you will provide your services.
Implement dedicated training programs for your employees so they are equipped to handle a cybersecurity attack, lessening your company’s need for cyber cover.
Hire data protection officers who can quickly resolve your cyberattack issues.
Implement more computer security to lower your risks, such as using multi-factor authentication across your servers.
Drop additional coverages that are irrelevant to your business activities, such as multimedia coverage.

How to reduce the cost of your professional indemnity insurance in Larnaca

Select Cyprus as the jurisdiction for your contract, and the insurance cost decreases when you specify your territorial limits.
Accurately document your business activities on your application form. The insurance underwriters can then provide you with tailored cover and minimise the possibility of insuring you incorrectly.
Ask those you work with, like freelancers or subcontractors, to acquire their own professional indemnity insurance contracts.

Affordable insurance in Larnaca

Pitsas Insurances cooperate only with reputable international underwriters and all of the underwriters locally, making us one of the largest insurance providers in the country.

Moreover, we are the leading choice for expats and international companies in Cyprus.

Thanks to the growing number of contracts in our care and our ever-expanding team, we can acquire the best insurance deals for our clients.

In addition, we provide further discounts on our underwriter’s predetermined premiums, making us the most affordable choice.

Cheap Insurance in Larnaca

It’s possible to buy everything you need both cheaply and securely with Pitsas Insurances.

We can find you the cheapest insurance in Larnaca, and our contracts have fewer exceptions than our competitor’s comparable ones in Cyprus.

Online insurance in Larnaca

Pitsas Insurances is both a physical and online insurance company and the largest online insurance provider in Cyprus.

Our company expanded in 2004 when we took more of our business services online, which enabled our customers to acquire insurance with us from the comfort of their homes.

As an online provider, our insurance premiums are comparatively lower than other insurance providers, thanks to our lower operating costs.

Nevertheless, you are welcome to visit our office for a consultation if you would rather not shop online. If you would prefer to communicate online, we provide free consulting over video conferencing. Either way, you can schedule an appointment with us for both options.

Communication is fundamental to our company, and an actual insurance consultant is assigned to handle your account every step of the way with you, including receiving any compensation you might be owed in case of a claim.

Our experienced and friendly insurance agents can offer you outstanding customer care, and we ensure to keep your personal data safe.

At Pitsas Insurances, we believe in developing interpersonal relationships built on trust and consider our customers as friends. We help all of our clients achieve their financial goals.

Best insurance in Larnaca

The best insurance contract in Larnaca is subjective to your needs. Therefore, we need to help you find the best insurance contract for you.

To do that, our insurance consultants carefully assess your personal or professional needs with all of the details you provide, and we keep within your budget.

We use an analytical approach to first decipher the minimum number of terms your contract must include before we assess your network’s requirements to ensure you are correctly covered.

We can then recommend optional terms to you that can increase your protection.

Insurance in Larnaca quotes

Pitsas Insurances has been operating in Larnaca since 1985 and is one of the oldest and most renowned insurance companies in Cyprus.

We cooperate with the most reputable underwriters both locally and globally and can swiftly prepare quotes for you for all the insurance products you need.

To find out more about our services and for more guidance on how to save on your insurance in Larnaca, visit our website.

Pitsas Insurances Team