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House insurance House insurance, otherwise known as homeowners insurance, covers your home, property, and personal belongings inside your home from damages and natural disasters. When you purchase house insurance, you agree to pay premiums to your insurance provider in exchange for financial protection against covered losses. Your mortgage company often requires house insurance to protect them financially if your home experiences any damages. When disaster strikes, many people can’t afford to replace items or rebuild structures alone, so home insurance is essential to help you shoulder the brunt of these costs.
Holiday home insurance Owning a holiday home can generate extra income, but unlike your main residence, your temporary residence may require extra insurance. Holiday homes are prone to theft, weather, and water damage, especially if left unoccupied for long periods. Moreover, holiday homes frequently let out to guests are at a higher risk of damage. To fully protect your property against these risks, having the right type of holiday home insurance is important.
Home insurance Although all home insurance is different, most policies share similarities and have coverages in common. Also known as homeowners insurance, home insurance covers your home and financially protects your property and personal belongings from covered losses and damages. Whether you are the victim of theft or a fire, a home insurance policy can pay for the costs to repair and replace items or even rebuild your home.
Renters insurance Sometimes referred to as tenant insurance, renters insurance can cover theft, bodily injury, damages, and more in a rented property. Whether you rent a flat, house, or even student accommodation, acquiring renters insurance is advisable to protect your home and possessions in case of a covered accident. Table of contents What is renters insurance? Do I need renters insurance? What does renters insurance cover? Renters liability insurance What is not protected by renters insurance?
Homeowners insurance Homeowners insurance covers your property, personal belongings, and assets from damages. In the event of covered damages and loss, your policy can also pay for accommodation if you need to stay elsewhere while your house is being repaired or even rebuilt. It can also cover accidents or injuries and pay for legal expenses. A homeowners policy can help pay for events on your property that result in lawsuits for which you may be liable.
Landlord insurance If you have properties you rent out long-term, such as a holiday home or second home, you need more than a homeowner's policy. If your property is damaged in an earthquake and you can’t rent it out, landlord insurance can compensate you for loss of earnings, whereas standard home insurance can’t. Landlord insurance includes other landlord-specific coverage, such as tenant default insurance. It protects your rental property in ways that homeowners' insurance cannot.
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.