Cyprus property insurance This comprehensive guide to property insurance in Cyprus will examine the features of various types of policies available on the market and when you might need them. We will also compare the best property insurance in Cyprus and share tips on making your insurance premiums more affordable. Table of contents What is property insurance? Types of property insurance in Cyprus Property insurance cost Affordable property insurance Property insurance quote Compare property insurance Best property insurance in Cyprus What is property insurance?

Holiday home insurance Holiday homes are more prone to theft and serious damage from fire, flood and leakages, in comparison to permanent homes, due to the fact that they are left unoccupied for long periods. In addition to the above, the influx of guests increases the likelihood of property damage. Additionally, you are obliged to register your holiday home in the CTO if you rent it to acquire public liability insurance of €100,000.

Home insurance in Cyprus Your home might be your most significant investment. Carrying home insurance and understanding what your policy covers could prove to be essential if you suffer from a covered risk. In this guide to home insurance in Cyprus, we will highlight what types of home insurance you can find in the country and what each covers. Additionally, we will cover what is excluded by most home insurance contracts, how to compare contracts and help you to find the best home insurance in Cyprus.

Renters insurance in Cyprus Sometimes referred to as tenant insurance, renters insurance can cover theft and content damage in a rented property. Whether you rent a flat, house, or even student accommodation, acquiring renters insurance is advisable to protect your possessions in case of a covered accident. We aim to explain why you should consider renters insurance throughout this guide. Specifically, we will examine the following topics about renters insurance in Cyprus.

Homeowners insurance in Cyprus Many people can’t afford to replace their belongings or rebuild their property after a disaster strikes at home, and that’s what homeowners insurance works to cover. Homeowners insurance works to protect your property and personal belongings against covered damages. This guide will cover how homeowners insurance works in Cyprus, how to find the best homeowner insurance in Cyprus and the following topics. Table of contents

Landlord insurance If you own property that you rent on a short-term or long-term basis, you need more than a standard homeowners policy to protect your investment. Landlord insurance includes landlord-specific coverage and protects your rental property in ways home insurance cannot. This guide will examine property insurance for landlords in Cyprus, when you need it, what it covers, and what you can expect to pay for it.

House insurance Home insurance is an indispensable product in Cyprus for several reasons. Firstly, the country’s geographical location makes it prone to earthquakes, and additionally, the island has seen a rise in crime and home burglaries in recent years. When you experience a disaster at home, whether caused by a fire, theft, or earthquake, it can be challenging to afford the replacement of belongings or to repair your property alone.

Imagine going away on holiday for a week, only to return to the home you are renting and find it has been broken into. Your TV, laptop, and jewellery is gone, and some of your furnishings have been broken. Could you afford to replace it all by yourself? If your answer to that question is no, then you need renter's insurance. Renter's insurance is a type of property insurance providing coverage to persons renting or subletting a home or apartment.

Imagine spending your time and savings renovating your home, only to have it flooded due to an unexpectedly powerful storm during the winter. What do you do? How do you ensure that your insurance will cover your damages? That's when all-risk insurance comes into play on your policy. 'All risks' refers to a kind of insurance coverage that automatically covers all risks and perils (i.e. property damage/loss arising from accidents or unforeseeable incidents), except for those that are specifically excluded in the contract.

Home insurance is the most effective way to protect your home. Unfortunately, burglary and crime in general have significantly increased in Cyprus since joining the EU in 2004. The main reason behind that is that Cyprus has become a particularly attractive destination for foreign nationals looking to have a second home in Cyprus. Most foreign nationals stay in Cyprus for only a short period of time, making their homes easy targets for thieves.

If you have purchased residential property in Cyprus, Pitsas Insurances recommends insuring it against earthquakes and fire, as well as insuring the property against theft. Insurance companies offer a fairly large number of types of residential real estate insurance, the insurance coverage of which ranges from minimal to full. Therefore, the insurance policy should be selected individually, depending on your property and needs. The cost of the insurance depends on the choseninsurance plan, the value of the real estate and the value of the property.

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 Should you wish to make a claim under your policy, you should initially read the relevant section of the Policy Wording together with the Policy Schedule to check whether you consider the claim is covered by this policy. Please contact us as soon as possible on +35 26600620 during office hours. Remember the following points: You must at all times provide without expense to us, any information or help that we reasonably ask for.

  Buildings insurance If you selected Buildings insurance, and chose the ‘Standard cover’ option the following coverage will apply: For a full list of exclusions please refer to the Policy Wording. Significant features and benefits Your home is covered against damage caused by the following perils: Fire, smoke, lightning, explosion or earthquake, storm, flood, freezing of water in any part of the plumbing installation, fixed water or fixed heating systems, subsidence, escape of water/oil (including the costs you incur in locating the source of the damage up to €5000 and replacing damaged waterpipes up to €1000), theft, impact, malicious damage, vandalism and other similar causes.

 Period of insurance Expats Home Insurance is an annual insurance contract which may be renewed each year subject to the terms and conditions applicable at the point of renewal invitation. Purpose of insurance This product is suitable for expatriates who work or have retired in Cyprus and covers the sections that you have selected and the sums insured shown on your policy schedule as detailed below: If you have chosen Buildings Insurance, we will provide cover for the structure of your home including garage and outbuildings, its fixtures and fittings, boundary and garden walls, carport, gates, hedges, fences, footpaths, patios, terraces, drives, tennis courts, swimming pools, hot tubs, garden ponds, statues and fountains that are permanently fixed into the ground, greenhouses, solar panels, septic tanks, gas or oil central heating tanks all forming part of the home which are used for domestic purposes only, against loss or damage from specific perils summarized over the page and detailed in your policy wording.

  Pitsas Insurances is one of the most experience providers of house insurance in Cyprus. We tirelessly analyze the insurance products, provided by the most prestigious international insurance companies, and we hand-pick the contracts with the best terms. Our comprehensive insurance policy beyond the standard covers is extended to cover: Theft and attempted theft (Our policy covers theft not accompanied by actual forcible and violent breaking into or out of a Building or any attempt thereat).

Paphos, a coastal city rich in history in culture located in the western part of Cyprus, is the capital of Paphos District. The area of the district is 1,393 km², which constitutes 15.1% of the total area of the island. According to the 2011 Census, it has a population of 90,295, out of which approximately 36% are overseas nationals compared to the average 24% for Cyprus. The local economy is mainly based on agriculture and tourism, with the district receiving about a third of tourist arrivals and having the highest number of four and five-star hotels on the island.

1. I rent the house I live in, do I need the insurance? Of course you do. We will be happy to offer you insurance for your property, even if it is not yours strictly speaking. Our only criteria are that the objects that you intend to insure must belong to you and, therefore, you have an economic interest that creates the need to protect them. To determine the values and objects to be insured, imagine that in some sort of unrealistic scenario, your house turns upside down.