Larnaca insurance. Affordable insurance in Larnaca.

Larnaca Insurance - A Complete Guide

In our complete guide to Larnaca insurance, we will briefly cover the main types of personal and business insurance contracts you can expect to find in Larnaca.

We will also present what you can expect to pay, including the ranges, averages and minimums of most insurance contracts, and suggest simple ways to lower your insurance costs.

Following our advice, you might save hundreds or even thousands on your insurance policies.

Table of contents

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

Types of insurance in Larnaca

Insurance in Larnaca can be categorised into two broad categories.

Individual or Personal insurance
Professional or Business insurance

Individual insurance policies Larnaca

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

Life Insurance

Life insurance can protect an insured’s loved ones and dependents from the financial implications of their death. It can enable the ability to pay off debts and more expenses.

Larnaca Life Insurance

Read our complete guide to life insurance in Cyprus on our website.

Car Insurance

In Cyprus, there are three main car insurance categories.

Third-party liability insurance (obligatory)
Third-party, fire and theft insurance
Comprehensive insurance

Larnaca Car Insurance

Read our complete guide to car insurance in Cyprus on our website.

Boat Insurance

Boat insurance can cover certain damage costs in case of a watercraft accident, including third-party injury and damage to another party’s property.

Pitsas Insurances provides discounts for yachts and boats moored at Ayia Napa Marina.

Larnaca Boat Insurance

Read our complete guide to boat insurance in Cyprus on our website.

Home Insurance

Various types of home insurance are for sale in Cyprus, all suited to different needs.

Home insurance
Landlords insurance
Content insurance
Holiday home insurance

In Cyprus, it’s obligatory to have third party liability insurance as a landlord or a holiday home owner.

Larnaca Home Insurance

Read our complete guide to home insurance in Cyprus on our website.

Health Insurance

Health insurance can help to cover health care expenses if the insured suffers from a medical condition, disease, or accidental bodily injury.

Larnaca Health Insurance

Read our complete guide to health insurance in Cyprus on our website.

Travel Insurance

Travel insurance covers various risks and the potential financial losses associated with travelling claims.

Larnaca Travel Insurance

Read our complete guide to travel insurance in Cyprus on our website.

Immigration Medical Insurance

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

Larnaca Immigration Medical Insurance

Read our complete guide to immigration medical insurance in Cyprus on our website.

Personal Accident Insurance

Personal accident insurance is ideally suited for self-employed people and businessmen. It can provide the insured with a replacement income in the event of a temporary or total and permanent loss of income.

Larnaca Personal Accident Insurance

Read our complete guide to personal accident insurance in Cyprus on our website.

Income Protection Insurance

Income protection insurance can prove to be invaluable for the self-employed and those managing their own business. It can provide the insured with a stable source of income in case of a temporary or permanent loss of income.

Larnaca Income Protection Insurance

Read our complete guide to income protection insurance in Cyprus on our website.

Critical Illness Insurance

Critical illness insurance is priceless during an unexpected medical event. It will quickly go into effect in case of an illness that needs medical attention and can help to pay for treatment.

Larnaca Critical Illness Insurance

Read our complete guide to critical illness insurance in Cyprus on our website.

Saving Insurance - Private Pensions

This insurance contract is indispensable for all tax residents in Cyprus.

Larnaca Saving Insurance - Private Pensions

Read our complete guide to saving insurance in Cyprus on our website.

Business insurances policies Larnaca

Business Insurance or Business Owner's Policy (BOP)
Keyman Life Insurance
Directors & Officers Insurance (D&O)
Cyber and Ransomware Insurance
Employers Liability Insurance
Errors & Ommissions Insurance (E&O)
General Public Liability Insurance (GPL)
Marine Cargo Insurance
Group Medical Insurance

Business Owner's Policy

Business insurance (or commercial insurance) is invaluable for a company to protect their business from various unexpected events and potential financial losses. It covers risks such as professional errors, theft, and property damage.

Larnaca Business Insurance

Read our complete guide to business insurance in Cyprus on our website.

Keyman Life Insurance

Keyman insurance is ideally suited for companies who want to insure their employees who are hard to replace. It can financially cover the potential interruptions to their business services.

Larnaca Keyman Insurance

Read our complete guide to keyman insurance in Cyprus on our website.

Directors & Officers Insurance (D&O)

Directors and officers insurance (D&O insurance) can protect a company from actual or alleged claims in managing their business.

It’s an invaluable insurance product in Cyprus because D&O claims have been increasing in recent years.

Larnaca D&O Insurance

Read our complete guide to D&O insurance in Cyprus on our website.

Cyber and Ransomware Insurance

Cyber insurance is ideally suited for companies that handle sensitive data while managing aspects of their business online. It is also indispensable for companies providing IT services.

Larnaca Cyber Insurance

Read our complete guide to cyber insurance in Cyprus on our website.

Marine Cargo Insurance

Marine insurance helps to cover the costs associated with the damage or loss of goods that are transported by a company for commercial means.

Marine Insurance

Read our complete guide to marine insurance in Cyprus on our website.

Employers Liability Insurance

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

Larnaca Employers Liability Insurance

Read our complete guide to employers liability insurance in Cyprus on our website.

Error & Ommissions Insurance or Professional Indemnity Insurance

Professional indemnity insurance can shield a company from actual or alleged professional mistakes and help pay for the legal implications of such claims.

Larnaca Professional Indemnity Insurance

Read our complete guide to professional indemnity insurance in Cyprus on our website.

General Public Liability Insurance (GPL)

Public liability insurance can help a company to cover the costs associated with claims made by the general public. It can help to pay for expenses arising from property damages, injuries, or even death.

Larnaca General Public Liability Insurance

Read our complete guide to general public liability insurance in Cyprus on our website.

Group Medical Insurance

Group health insurance is an insurance option provided by employers for their employees. It includes coverage for medical care expenses for accidental bodily injury or disease.

Larnaca Group Health Insurance

Read our complete guide to group health insurance in Cyprus on our website.

How much is Larnaca insurance in 2023?

The range of premium costs for each type of insurance is presented in our statistics below, excluding outliers (i.e., extortionate premiums due to unusual conditions).

The cost of personal insurance policies in Larnaca

Cost of car insurance

The average cost:

Car insurance third party: €260
Car insurance comprehensive: €470

The range of cost:

Car insurance third party: €165 - €450
Car insurance comprehensive: €245 - €2500

The minimum cost:

Car insurance third party: €165
Car insurance comprehensive: €245

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

Cost of home insurance

Home insurance average: €230
Home insurance range: €105 - €1750
Home insurance minimum: €105

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

Cost of health insurance

Health insurance average (annually): €1455
Health insurance range (annually): €785 - €3950
Health insurance minimum (annually): €785

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

Cost of life insurance

Life insurance average: €455
Life insurance range: €140 - €7000
Life insurance minimum: €140

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

Cost of immigration medical insurance

Immigration medical insurance average: €150
Immigration medical insurance range: €80 - €275

Immigration medical insurance minimum:

With outpatient expenses cost: €80
Without outpatient expenses cost: €120

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

Cost of personal accident insurance

Personal accident insurance average (annually): €455
Personal accident insurance range (annually): €125 - €1650
Personal accident insurance minimum (annually): €125

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

Cost of critical illness insurance

Critical illness insurance average (annually): €525
Critical illness insurance range (annually): €155 - €2000
Critical illness insurance minimum (annually): €155

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

Cost of income protection insurance

Income protection insurance average (annually): €440
Income protection insurance range (annually): €110 - €1600
Income protection insurance minimum (annually): €110

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

Cost of boat insurance

Boat insurance average: €940
Boat insurance range: €530 - €7000
Boat insurance minimum: €530

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

Cost of travel insurance cost

Travel insurance average (7-day single trip): €45
Travel insurance range (7-day single trip): from €20 - €250
Travel insurance minimum (7-day single trip): €20

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

The cost of business insurance policies in Larnaca

Cost of business insurance

Business insurance average: €355
Business insurance range: €95 - €2,500
Business insurance minimum: €95

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

Cost of employers liability insurance

Employers liability insurance average: €240
Employers liability insurance range: €95 - €1,750
Employers liability insurance minimum: €95

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

Cost of professional indemnity insurance

Professional indemnity insurance average: €555
Professional indemnity insurance range: €210 - €12,000
Professional indemnity insurance minimum: €210

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

Cost of directors and officers insurance

D&O insurance average: €1200
D&O insurance range: €600 - €20,000
D&O insurance minimum: €600

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

Cost of cyber insurance

Cyber insurance average: €900
Cyber insurance range: €400 - €45,000
Cyber insurance minimum: €400

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

Cost of general public liability insurance

General public liability insurance average: €450
General public liability insurance range: €200 - €1,500
General public liability insurance minimum: €200

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

Cost of group health insurance

Group health insurance average (per employee/monthly): €125
Group health insurance range (per employee/monthly): €35 - €450
Group health insurance minimum (per employee/monthly): €35

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

Cost of keyman insurance

Keyman insurance average: €450
Keyman insurance range: €145 - €7000
Keyman insurance minimum: €145

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

How to save on your Larnaca insurance

General tips to save on your insurance in Larnaca

Use our tips to save on your Larnaca insurance.

Choose standard insurance providers over intermediaries (i.e. lawyers and accountants) because they won’t charge an extra fee.
Remove insurance terms that don’t correspond to your needs wherever possible.
Bundle your policy to contain various policies with only one insurance company to immediately receive a multiple policies discount.
Most insurance providers in Cyprus give you the opportunity to include a deductible on your contract. By increasing your deductible amount, you can save money on your insurance.
Work with an expatriate insurance company if you are an expat because they can cater to your specific needs.
Choose a family contract instead of an individual one when possible. Individual contracts are sold with an issuance fee for each, while family contracts include substantial discounts.

Reduce the cost of your Larnaca car insurance

Bundle car insurance with your home insurance to receive an instant discount.
Acquire a Cypriot driving licence for an instantly lowered car insurance price.
Present evidence of your clean driving record with a non-claim history document from your previous employer.
Insure all of your cars or vehicles with one insurance provider to receive an instant “additional car discount”.
Non-EU citizens (e.g. Russia, Belarus, Kazakhstan) can be insured with Pitsas Insurances at an affordable price with their local driving licences.
Don’t enable all drivers from 25 to 70 to drive your vehicle. Exclusively declare the drivers on your contract instead, including their ages and level of experience. If an additional driver wants to use your vehicle, you can add a cover note to your insurance.

Reduce the cost of your Larnaca house insurance

If you employ a housemaid to clean your home, her mandatory liability policy can be covered under your house insurance contract at a lower rate.
Protect your expensive items and personal belongings in a safe to automatically lower your insurance premium.
Choose an all-risk policy even though it is slightly more expensive upfront than a standard policy. An all-risk policy will cover 25% more claims.
Detail all of your personal belongings in an itemised list for your home’s content insurance application. The cost of your premium will be lowered, and you will be prepared in case of a claim.
Insert alarm systems in your home (i.e. burglar or smoke alarms) to automatically decrease your premium by 5% - 10%.
Declare your expensive items and their market value on your contract separately (i.e. jewellery, fine art, carpets etc.). Your premium will be slightly more expensive upfront, but you will be paid in the case of a claim.
Declare your property’s reconstruction value for your insurance. See here for advice on how to calculate the rebuild cost for insurance purposes.
Specifically, ask for holiday home or landlord insurance because they have dedicated terms and are significantly cheaper than standard homeowner policies (20% cheaper on average).

Reduce the cost of your Larnaca health insurance

As a registered GESY member, choose an insurance contract without outpatient expenses.
Get insured under your employer’s group health insurance plan if you get the opportunity. Group health plans are always cheaper than individual ones.
If you have resided in Cyprus for over six months within one year, you should choose a local insurance company for cheaper insurance.
Choose insurance companies that can insure people with past conditions.
Choose an insurance provider that cooperates with a wide range of clinics across Cyprus. If not, you may have to pay in advance for your expenses, which could be a problem in the case of costly treatment.

Reduce the cost of your Larnaca life insurance

If you are not interested in having a savings and cash value component as part of your insurance, acquire term life insurance which is cheaper than whole life.
If you are paying off a mortgage, choose decreasing term life insurance instead of term life for a cheaper premium.
Acquire life insurance when you are young and relatively healthy.

Reduce the cost of your Larnaca immigration health insurance

Start your insurance on the same day you have an appointment with the immigration department in Cyprus.
Choose a family plan instead of an individual plan so you don’t have to pay an issuance fee per contract.
All insurance companies must sell immigration with identical policy terms, so all you need to do is choose the policy with the lowest premium.

Reduce the cost of your Larnaca business insurance

Choose to carry all your coverages under one policy instead of many separate ones for cheaper insurance. The standard business contract in Cyprus includes premises public liability, product liability, content insurance, and employers liability insurance.
If you own a small company, specifically enquire about a dedicated small business contract because they are cheaper.
If you have a home office and work remotely, buy a home insurance package that can also insure your work equipment.
For employers liability insurance, select the minimum required covered amount: €170,000.

Reduce the cost of your Larnaca professional indemnity insurance

Select Cyprus as the jurisdiction for your insurance contract.
The insurance premium dramatically decreases when you specify the territorial limits to only the countries you provide your business services.
Ask people you work with, such as freelancers or subcontractors, to acquire their own professional indemnity insurance contracts.
Describe the breadth of your business activities in detail on your application form. The underwriters can then provide you with a tailored cover that is accurate for your needs and minimise the possibility of overinsuring you.

Reduce the cost of your Larnaca directors & officers insurance

Answer the application form questions accurately and analytically so you can get correctly insured for your needs.
Select Cyprus as the jurisdiction for your insurance contract.
If you have one, add your directors & officers insurance coverage on your professional indemnity insurance contract.
Drop additional coverages that are unnecessary for you, such as employment practices liability.
Decrease your premium by specifying the territorial limits to only the countries you provide your business services.

Reduce the cost of your Larnaca boat insurance

Provide your insurance company with an updated report detailing how you keep your watercraft in good repair.
Limit the navigable waters of your contract to only the countries you use your watercraft instead of acquiring coverage for a whole region.
Drop unnecessary coverage and ask about a layup discount for the months when you do not use your watercraft.

Reduce the cost of your Larnaca cyber insurance

Implement dedicated cybersecurity training for your employees so they are able to handle a cyber attack, and you can lessen the need for cyber cover.
Drop additional coverages that aren’t required by your business, such as telephone hacking.
Increase your company’s computer security in clever ways, such as using multi-factor authentication.
Hire data protection officers who can quickly help you resolve issues if you face any cybersecurity problems.
Specify the territorial limits to only the countries you provide your business services.

Reduce the cost of your Larnaca travel insurance

Don’t acquire insurance from travel agents and instead go straight to a traditional insurance agent.
Acquire an annual travel policy to instantly save money on your insurance premium with an annual discount.

Affordable Larnaca insurance

Pitsas Insurances cooperate with the most renowned international underwriters and all local underwriters in Cyprus, making us one of the biggest insurance providers in the country.

Moreover, we are the number one choice for expatriates and international companies in Cyprus.

Due to the growing number of contracts we handle and our ever-evolving team, we can find the most attractive insurance deals for our clients.

In addition, we provide further attractive discounts on our underwriter’s affordable predetermined premiums.

Cheap Larnaca Insurance

It’s possible to buy everything cheaply and securely online with Pitsas Insurances.

We can find you the most affordable insurance in Larnaca, and our contracts have fewer exceptions than comparable ones in the country.

Online insurance Larnaca

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

We expanded our business in 2004 when we took more of our services online and enabled our customers to buy more insurance products from the comfort of their homes.

Our premiums are substantially lower than other insurance providers as an online provider due to our lower operating costs.

Nevertheless, we maintain certain traditions at Pitsas Insurances and welcome you to visit our office for a traditional face-to-face consultation.

However, we also provide free consulting through video calls if you would prefer to communicate online.

Communication is integral to our company’s foundation, and we assign you an actual insurance consultant to handle your account every step of the way, including receiving any compensation in case of a claim.

Our experienced insurance consultants will provide you with an outstanding customer experience online, and we ensure your personal data is kept safe throughout.

At Pitsas Insurances, we believe in building lasting interpersonal relationships and consider our customers as friends who we help to achieve their financial aims.

Best Larnaca insurance

There is not one insurance contract in Larnaca that can be considered the best. However, there are ways we help you to find the contract that is best suited to your needs.

Our insurance consultants analyse your personal or professional needs with the details you provide, and we work within your budget.

We use a systematic procedure to determine the minimum terms your contract should include before analysing your network’s requirements to correctly cover your needs.

We can then suggest optional terms you can add to your policy to increase your protection with extra coverage.

Larnaca insurance quotes

Pitsas Insurances has been serving Larnaca since 1985 and has expanded to be one of the most reputable insurance companies in Cyprus.

We work alongside the most prestigious underwriters both locally and globally, and together we can prepare any type of insurance quote that interests you.

To learn more about our product offerings and for more Larnaca insurance, see our blog and website here.

Pitsas Insurances Team