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Welcome to Insured Direct - Your Trusted Insurance Partner in Cyprus.

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At Insured Direct, we understand that finding the right insurance coverage can be a complex and daunting task. That’s why we’re committed to simplifying this process for you. As a leading provider of insurance solutions in Cyprus, we offer a comprehensive range of services tailored to meet your unique needs. Whether you’re looking for protection for your car, home, business, or health, we have the expertise and experience to guide you to the perfect policy.

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Explore our comprehensive range of insurance services in Cyprus, meticulously crafted to cater to your diverse needs and ensure unparalleled protection.

Motor Cover

Optimizing motor cover solutions to meet modern driving demands, ensuring safety and satisfaction on every journey.

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Business Cover

Tailoring business cover to safeguard your enterprise, fostering growth and resilience in a dynamic commercial landscape.

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Home Cover

Crafting home cover policies that resonate with homeowners’ needs, providing peace of mind in every living space.

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Other Products

Offering diverse insurance products like travel, medical, and pet coverage, designed to protect all facets of your lifestyle.

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FAQS

Motor Cover

What types of car insurance are available in Cyprus?

At Insured Direct, we understand the importance of providing a range of car insurance options to cater to the diverse needs of our clients in Cyprus. Our offerings include Third-Party Liability Insurance, which is the minimum legal requirement, covering damages to other vehicles, property, and injuries to other people. For those seeking more comprehensive protection, we offer Fully Comprehensive Insurance, which covers damages to your own vehicle as well as third-party liabilities. Additionally, we provide Third-Party, Fire, and Theft Insurance, which extends coverage to include loss or damage to your vehicle caused by fire or theft. Each of these policies is designed with the driver’s peace of mind in mind, ensuring that whatever your specific needs or concerns, we have a solution that fits. Get a Motor Quote today! 

Is car insurance mandatory in Cyprus?

At Insured Direct, we emphasize the importance of adhering to local regulations, and in Cyprus, car insurance is indeed mandatory. Every vehicle on the road is required by law to have at least Third-Party Liability Insurance. This ensures that if you are involved in an accident, any damage to other vehicles, property, or injuries to other individuals is covered. While this is the minimum requirement, we strongly recommend considering additional coverage options for greater protection. Our range of insurance products is designed to meet this legal requirement while also offering options to enhance your coverage, providing peace of mind and security whenever you’re on the road. Read more our step-by-step guide to car insurance in Cyprus.

How is the cost of car insurance calculated in Cyprus?

At Insured Direct, we want our clients in Cyprus to understand how we determine the cost of car insurance, ensuring transparency in our pricing. The cost is calculated based on several key factors: the driver’s age and driving experience, the vehicle’s make, model, and age, and the driver’s claims history and driving record. Additionally, the level of coverage you choose plays a crucial role; comprehensive policies typically cost more than basic third-party liability insurance. We also consider the intended use of the vehicle, whether it’s for personal or commercial use, which can influence the premium. Our goal is to provide a fair and competitive rate, reflecting the individual risk factors while offering optimal protection for your vehicle. Get more out of your car insurance today with Insured Direct!

Can I transfer my no-claim bonus from another country to Cyprus?

At Insured Direct, we recognize the value of your safe driving record, even when it’s from another country. If you’re moving to Cyprus and wish to transfer your no-claim bonus, we’re here to assist. While the process can vary depending on the country of origin and the specific insurance company, we strive to accommodate international no-claim bonuses wherever possible. We assess these on a case-by-case basis, considering the documentation provided and ensuring it meets the local regulatory standards. Our aim is to ensure that your transition is smooth and your responsible driving history is acknowledged, potentially helping to reduce your premium costs in Cyprus. Please contact us with your details, and we’ll guide you through the verification and transfer process.

What is typically included in car breakdown cover in Cyprus?

At Insured Direct, our car breakdown cover in Cyprus is designed to provide you with peace of mind, knowing that you’re supported in case of any roadside troubles. Typically, our breakdown cover includes:

  1. Roadside Assistance: If your car breaks down while you’re on the road, we’ll send a technician to try to fix the issue on the spot, allowing you to continue your journey with minimal disruption.

  2. Towing Service: Should your vehicle require more extensive repairs that can’t be addressed roadside, we’ll tow it to the nearest garage for professional attention.

  3. Vehicle Recovery: In the event that your car cannot be quickly repaired, we will ensure that your vehicle is safely transported to a designated location, whether that’s your home or a repair shop.

  4. Onward Travel: Depending on your level of coverage, if your car is immobilized, we may provide alternative transportation to help you and your passengers reach your destination.

  5. Flat Tire Assistance: If you encounter a flat tire, our team will assist in replacing it with your spare, or provide towing services if a spare is not available.

  6. Battery Jump-Start: In case of a dead battery, our technicians will provide a jump-start to get your vehicle running again.

  7. Fuel Delivery: If you run out of fuel, we can deliver an emergency supply to your location, ensuring you can reach the nearest petrol station.

  8. Lost Keys: If you’re stranded due to lost or locked-in keys, we’ll help you gain access to your vehicle or provide towing to a secure location if necessary.

  9. 24/7 Availability: Our breakdown services are available around the clock, ensuring that you’re never left stranded, no matter the time of day or night.

Our goal is to keep you safe and minimise inconvenience, ensuring that you’re back on the road as quickly and smoothly as possible. Get a car insurance quote today!

Can I purchase car breakdown cover separately from my car insurance?

Yes, you can purchase car breakdown cover separately from your standard car insurance policy. This allows you to tailor your coverage to your specific needs and preferences. Whether you’re looking for standalone breakdown assistance or you wish to add it to an existing policy, we offer the flexibility to choose what works best for you. Our breakdown cover is designed to provide comprehensive assistance independently of your car insurance, ensuring you’re never left stranded, regardless of your insurance choices. If you have any questions or need further clarification on how to integrate this with your current coverage, our team is here to help guide you through the process. Want to talk to an insurance expert? We’ve got you covered.

What are the requirements for van insurance in Cyprus?

In Cyprus, the requirements for van insurance align closely with those for standard vehicle insurance, with some specific considerations given the commercial or personal use of the van. Here’s an overview of the essential requirements:

  1. Mandatory Third-Party Liability Insurance: This is the minimum legal requirement and covers damage or injuries that your van may cause to other people or their property. It does not cover damages to your own vehicle.

  2. Valid Vehicle Registration: Your van must be legally registered in Cyprus. Insurance companies typically require a valid registration to issue a policy.

  3. Roadworthiness: The van must pass a roadworthiness test, known as the MOT, which is a requirement for both insurance and legal operation on the road.

  4. Driver’s License: The person driving the van must hold a valid driver’s license appropriate for the vehicle class. If the van is used for commercial purposes, additional licensing may be required.

  5. Additional Coverage Options: While third-party liability insurance is the minimum, van owners often opt for comprehensive coverage, which includes protection against theft, fire, and damage to the van itself.

  6. Personal or Commercial Use: The type of insurance and the coverage needed might differ based on whether the van is used for personal or commercial purposes. Commercial vans might require additional coverage for cargo, equipment, or liability related to business operations.

  7. No-Claims Bonus: If you have a history of no claims, you can transfer this bonus to your van insurance, potentially lowering the cost of your premium.

  8. Policyholder Information: Accurate details about the policyholder and any additional drivers are necessary to ensure the insurance is valid and applicable in the event of a claim.

  9. Customized Add-ons: Depending on your needs, you might consider additional coverage options, such as breakdown cover, legal expenses, or personal belongings cover.

  10. Compliance with Local Laws: Ensure that your insurance policy complies with all local regulations and laws in Cyprus, providing the necessary coverage and documentation required for van operation.

When securing van insurance in Cyprus, it’s crucial to assess your specific needs, especially if the van is integral to your business, to ensure you have adequate protection in place.

Does van insurance cover goods in transit in Cyprus?

In Cyprus, standard van insurance typically does not automatically include coverage for goods in transit. This type of coverage is particularly relevant for businesses or individuals who use their vans to transport goods, merchandise, or equipment. To ensure that the goods you’re carrying are protected against loss, damage, or theft while in transit, you would need to obtain additional coverage known as “Goods in Transit” insurance.

Home Cover

What does home insurance in Cyprus typically cover?

Home insurance in Cyprus is designed to provide homeowners with financial protection against various risks and damages to their property. While the specifics can vary between insurance providers and individual policies, typical home insurance coverage in Cyprus generally includes:

  1. Building Insurance: This covers the structure of the home itself, including walls, roofs, floors, and fixed installations like bathrooms and kitchens. It protects against damage from events like fires, storms, earthquakes, and sometimes floods, depending on the policy.

  2. Contents Insurance: This covers the personal belongings within the home, such as furniture, electronics, appliances, and personal items against theft, loss, or damage.

  3. Liability Coverage: Liability protection is often included, covering the homeowner in case someone is injured on their property or if the homeowner causes damage to someone else’s property.

  4. Natural Disasters: Coverage for natural disasters like earthquakes, storms, and fires is typically included, but it’s important to check if specific events like floods are covered, as this can vary.

  5. Accidental Damage: Some policies may offer coverage for accidental damage to the building and its contents, although this might be an optional extra in some cases.

  6. Temporary Accommodation Costs: If the home is damaged and becomes uninhabitable, the insurance may cover the cost of temporary accommodation while repairs are made.

  7. Loss of Rent: For property owners who rent out their property, some policies may cover loss of rent if the property becomes uninhabitable due to insured damage.

  8. Legal Fees: Some home insurance policies may provide coverage for legal fees associated with disputes or claims related to the property.

  9. Personal Valuables: High-value items like jewellery, art, and electronics may require additional coverage or need to be listed specifically in the policy to be covered.

  10. Glass & Lock Replacement: Coverage can include the cost of replacing windows or locks following a break-in or accidental damage.

When purchasing home insurance in Cyprus, it’s crucial to thoroughly review and understand the policy details, including what is and isn’t covered, any deductibles that apply, and the process for filing a claim. Homeowners should ensure the coverage limits are sufficient to cover the replacement cost of the home and its contents, and consider any additional coverage options that may be beneficial based on their specific needs and risks.

Is home insurance required by law in Cyprus?

In Cyprus, home insurance is not mandated by law. However, it’s highly recommended for homeowners to protect their property and assets. While the law doesn’t require you to have home insurance, if you have a mortgage, your lender will typically require you to have buildings insurance at the very least, to protect the property against major risks like fire, floods, and earthquakes.

Even though it’s not a legal requirement, having home insurance offers significant benefits. It provides financial protection against unforeseen events that could cause damage to your property or belongings. Considering the potential costs associated with repairing or rebuilding a home, or replacing its contents, insurance can offer peace of mind and financial security.

For homeowners without a mortgage, while there’s no legal obligation to purchase insurance, it’s a prudent decision to consider such coverage to safeguard one of their most valuable assets.

Are natural disasters covered in Cyprus home insurance policies?

In Cyprus, home insurance policies generally cover certain natural disasters, but the extent of coverage can vary between different insurance providers and specific policy details. Here’s a closer look at how natural disasters are typically covered in Cyprus home insurance policies:

  1. Earthquakes: Many home insurance policies in Cyprus include coverage for damages caused by earthquakes, which is particularly important given the region’s seismic activity. However, it’s crucial to check if this coverage is part of the standard policy or needs to be added as extra coverage.

  2. Fires: Coverage for damage caused by fires, often resulting from natural causes or accidents, is commonly included in home insurance policies.

  3. Storms and Floods: Damage caused by storms, including wind, rain, and lightning, is typically covered. However, flood coverage might not always be included, especially if the property is in a high-risk area. It’s essential to clarify with the insurer whether flood damage is covered.

  4. Other Natural Events: Some policies may also cover additional natural events such as landslides or hail, but this coverage can vary, so homeowners should verify the specifics with their insurer.

Homeowners should thoroughly review their insurance policies to understand what natural disasters are covered and under what conditions. It’s also advisable to discuss with the insurance provider to ensure that the policy meets the homeowner’s needs, considering the geographical and environmental risks specific to their property’s location in Cyprus. If certain natural disasters aren’t covered, homeowners may need to purchase additional coverage to ensure comprehensive protection.

Business Cover

What types of business insurance are available in Cyprus?

Common types include public liability insurance, professional indemnity insurance, employers’ liability insurance, and property insurance. Get a business insurance quote today.

Is employer liability insurance mandatory in Cyprus?

Yes, employer liability insurance is mandatory in Cyprus. This type of insurance is required by law to ensure that businesses provide protection against the risk of injuries or illnesses that employees might sustain as a result of their work. Employer liability insurance covers the cost of compensation for employees’ injuries or illnesses that are related to their job.

This insurance is crucial for employers as it safeguards against the financial burden that may arise from claims made by employees for incidents that occur during their employment. It covers various costs associated with such claims, including legal fees, medical costs, and compensation for loss of income or pain and suffering.

The requirement for employer liability insurance is in line with the general principle of ensuring workplace safety and providing a safety net for employees. It reflects the employer’s responsibility to create a safe working environment and to be prepared to address any incidents if they occur.

Businesses operating in Cyprus should ensure they have adequate employer liability insurance that complies with Cypriot regulations. Failure to have such insurance can result in significant fines and legal consequences, highlighting the importance of adhering to this legal requirement for the protection of both employees and the business itself. Get an instant quote & policy approved online today!

How do I determine the amount of coverage needed for my business?

Determining the right amount of coverage for your business insurance in Cyprus involves assessing various factors that influence your business’s specific risks and needs. It depends on your business type, size, industry risks, and the value of your assets. Get a business insurance quote today.

What is professional indemnity insurance, and do I need it in Cyprus?

It protects against claims of negligence or harm due to professional advice or services. It’s recommended for consultants, advisors, and similar professions. Read more.

Are there specific professional insurance requirements for certain professions in Cyprus?

Yes, professions like architects, accountants, tradespersons and lawyers have specific insurance requirements. Find out more about business cover and it’s types.

Does employer liability insurance cover temporary or part-time employees in Cyprus?

Yes, it generally covers all employees, including temporary and part-time staff. Find more info here.

Other Insurances

Is travel insurance mandatory for visiting Cyprus?

Travel insurance is not legally mandatory for all visitors to Cyprus, but it’s highly recommended. However, for certain categories of visitors, such as non-EU nationals who are required to obtain a Schengen visa, having travel insurance is a prerequisite. This insurance must cover medical expenses, including repatriation, and have a minimum coverage of 30,000 euros.

For EU citizens, while travel insurance is not a legal requirement, carrying a European Health Insurance Card (EHIC) or its new version, the UK Global Health Insurance Card (GHIC) for UK citizens, is advised. These cards provide access to necessary healthcare during their stay, similar to the treatment available to Cypriot residents, but they do not cover all health-related expenses or other travel-related risks like trip cancellations, lost luggage, or repatriation.

For non-EU visitors not under the Schengen visa requirement, it’s wise to check with their respective embassies or consulates for specific entry requirements regarding insurance.

Regardless of the legal requirements, having comprehensive travel insurance is beneficial for all travellers to Cyprus. It ensures financial protection against unforeseen medical emergencies, travel interruptions, loss of personal belongings, and other potential issues while abroad. Get an instant Travel Insurance Quote! For more information visit our Travel Insurance section.

What does travel insurance typically cover?

Travel insurance offers a safety net while you’re away from home, covering a range of unexpected events to minimise financial risks. Here’s what a typical travel insurance policy might cover:

  1. Medical Emergencies: Covers the cost of medical treatments abroad, including hospital stays, surgery, medications, and sometimes emergency dental care. It’s crucial for countries where healthcare is expensive.

  2. Emergency Repatriation: If medically necessary, insurance can cover the costs to transport you back to your home country for treatment.

  3. Trip Cancellation or Interruption: Reimburses non-refundable travel expenses if your trip is canceled or cut short due to covered reasons like illness, injury, or the death of a family member.

  4. Personal Liability: Covers legal costs and compensation payments if you’re held responsible for causing injury to someone else or damaging their property while traveling.

  5. Lost, Stolen, or Damaged Belongings: Compensates for the loss of personal items like luggage, passports, and valuables during your trip.

  6. Delayed Baggage: Provides funds to cover essential items if your luggage is delayed for a certain period.

  7. Travel Delays and Missed Connections: Offers compensation for additional accommodation and travel expenses if your journey is disrupted due to delays.

  8. Adventure and Sports Coverage: Some policies cover higher-risk activities like skiing or scuba diving, which might be excluded in standard policies.

  9. Legal Expenses: Covers legal fees if you need to defend yourself legally while abroad.

  10. Accidental Death and Dismemberment: Provides a lump sum payment in the unfortunate event of death or serious injury resulting in loss of limb or sight while traveling.

It’s important to carefully review the policy details to understand what is covered and to check for any exclusions or limits on coverage. Always choose a policy that matches your travel needs, considering destinations, activities planned, and the overall level of protection you’re comfortable with.

Visit our Travel Insurance page for more info.

Is medical insurance mandatory for residents in Cyprus?

In Cyprus, medical insurance is not mandatory for all residents, but the situation varies depending on several factors, such as employment status, nationality, and whether the individual is a beneficiary of the public healthcare system.

  1. Public Healthcare System: Cyprus has a public healthcare system (Gesy) that provides medical services to residents who contribute to the social insurance system. Those who are employed, self-employed, or are dependents of contributors have access to this healthcare system.

  2. EU Citizens: EU citizens residing in Cyprus can access the public healthcare system if they are employed and making social insurance contributions or if they hold a European Health Insurance Card (EHIC). However, the EHIC is mainly for temporary stays and not a substitute for comprehensive health insurance.

  3. Non-EU Citizens: Non-EU citizens living in Cyprus may need to show evidence of private health insurance to obtain a residence permit, especially if they are not contributing to the Cypriot social insurance system or do not have access to the public healthcare system.

  4. Private Sector Employees: While public healthcare is accessible for those contributing to the social security system, some employers might offer private health insurance as part of their employment packages.

  5. Self-Employed and High-Income Earners: Individuals who are self-employed or do not qualify for public healthcare due to income thresholds might choose or need to have private health insurance.

In summary, while medical insurance is not universally mandatory for all residents, access to healthcare services in Cyprus is typically tied to social insurance contributions. Those not covered under the public system, such as certain expatriates or non-contributors, often opt for or are required to have private health insurance. It’s always advisable for residents to have adequate health coverage, whether through the public system or private insurance, to ensure access to healthcare services when needed.

Get Medical Insurance online now.

What does pet insurance typically cover in Cyprus?What does pet insurance typically cover in Cyprus?

Pet insurance in Cyprus is designed to help pet owners manage the financial costs associated with veterinary care and other related expenses. While the specifics can vary between insurance providers, here’s a general overview of what pet insurance typically covers in Cyprus:

  1. Veterinary Bills: This includes coverage for accidents, illnesses, and injuries. Policies may cover consultations, diagnostic tests, surgeries, medications, hospital stays, and emergency treatments.

  2. Chronic Conditions: Some policies cover ongoing conditions, but there might be limitations or exclusions, so it’s essential to check the details.

  3. Hereditary and Congenital Conditions: Coverage might extend to hereditary and congenital conditions if they were not pre-existing or known at the time the insurance policy was purchased.

  4. Vaccinations and Preventive Care: Some insurance plans offer coverage or riders for preventive care, including vaccinations, flea and tick treatments, and routine check-ups.

  5. Spaying/Neutering: Certain policies might include coverage for spaying or neutering, which is often considered part of responsible pet ownership.

  6. Dental Care: Dental treatment can be covered, but the extent of the coverage can vary, with some policies covering only dental issues resulting from accidents.

  7. Alternative Therapies: Coverage for alternative treatments, such as acupuncture or physiotherapy, may be included, depending on the policy.

  8. Liability Coverage: If your pet causes injury to a person or damage to property, liability coverage can protect you against legal and compensation costs.

  9. Advertising and Reward: If your pet is lost or stolen, some policies cover the cost of advertising and a reward for finding and returning the pet.

  10. End-of-Life Expenses: This can include euthanasia, cremation, or burial expenses, providing support during difficult times.

When choosing pet insurance in Cyprus, it’s crucial to carefully review what each policy covers and to understand any exclusions or limitations. Consider your pet’s specific needs, breed-related health risks, and your financial situation to select a policy that offers the best protection for your pet and peace of mind for you. Get a pet insurance quote online today! Check this guide out on pet insurance.

What types of life insurance are available in Cyprus?

In Cyprus, the life insurance market offers various types of policies to cater to different needs and preferences. Here’s an overview of the common types of life insurance available:

  1. Term Life Insurance: This is a straightforward type of life insurance that provides coverage for a specified term, such as 10, 20, or 30 years. If the policyholder passes away within the term, the beneficiaries receive the death benefit. If the policyholder outlives the term, the coverage ends, and there is no payout.

  2. Whole Life Insurance: Unlike term insurance, whole life insurance provides coverage for the policyholder’s entire lifetime, as long as premiums are paid. It also includes a savings component, known as cash value, which grows over time and can be borrowed against or withdrawn under certain conditions.

  3. Universal Life Insurance: This type of insurance offers more flexibility than whole life insurance. Policyholders can adjust their premiums and death benefits within certain limits. Universal life insurance also includes a cash value component that earns interest.

  4. Endowment Policies: These policies combine life insurance with a savings plan, providing a lump sum after a specific period or upon the policyholder’s death within the policy term. They are often used for specific financial goals, like education funding or retirement planning.

  5. Unit-Linked Insurance Plans (ULIPs): ULIPs offer a combination of life insurance and investment. A portion of the premium goes toward life insurance coverage, while the remaining portion is invested in various funds. The investment returns can fluctuate based on the market performance of the chosen funds.

  6. Group Life Insurance: Offered by employers or organisations, group life insurance provides coverage to a group of people under one policy. It’s typically provided as a part of employee benefits packages and offers a basic level of coverage, which employees can often supplement with additional individual policies.

  7. Annuities: While not traditional life insurance, annuities are financial products that can provide income during retirement. They can be purchased with a lump sum or through regular payments and can offer a death benefit to beneficiaries in certain types.

When considering life insurance in Cyprus, it’s essential to assess your financial goals, family responsibilities, and the level of coverage needed to ensure your loved ones are financially secure in the event of your passing. Consulting with a financial advisor or insurance professional can help you navigate the options and choose a policy that aligns with your needs and circumstances. Get a life insurance quote or speak to an insurance expert now.

Is life insurance taxable in Cyprus?

In Cyprus, the taxation of life insurance proceeds depends on the type of policy and the circumstances under which the payout is made. Generally, the tax treatment of life insurance can be summarized as follows:

  1. Death Benefit: The sum paid out upon the death of the insured person is usually not subject to income tax for the beneficiaries. This means that if the life insurance policy is structured properly, the beneficiaries can receive the death benefit free of income tax.

  2. Surrender Value: If a life insurance policy is surrendered before the death of the policyholder, the cash value received may be subject to tax. The tax implications can depend on whether the policy is considered an investment policy and on the gains accumulated in the policy.

  3. Investment Policies: For policies that have an investment component, such as unit-linked policies, the interest or investment gains may be subject to capital gains tax or other relevant taxes, depending on the specifics of the policy and the tax laws in effect.

  4. Estate Tax: Cyprus does not impose estate or inheritance tax, so life insurance proceeds are not taxable under these categories when passed on to beneficiaries.

  5. Corporate-Owned Policies: If the life insurance policy is owned by a company, the tax treatment may differ, and it’s essential to consult with a tax advisor to understand the specific implications.

It’s important to note that tax laws can change, and the tax treatment of life insurance proceeds can vary based on individual circumstances and the specifics of the policy. Therefore, it’s advisable for policyholders and beneficiaries to seek guidance from a financial advisor or tax professional to understand the current tax implications of life insurance policies in Cyprus.