Third party motor insurance

If you move to Cyprus from another EU country for temporary residence, and your vehicle is registered in another EU country, your car insurance policy, issued by an EU country, is still valid for the period for which it was signed within the Republic of Cyprus.
Once your vehicle is registered in the Republic of Cyprus, you are required to own motor vehicle insurance for Civil Liability from an insurance company that is licensed to operate in the Republic of Cyprus.

History of insurance claims

Each insurance company is free to decide, according to its underwriting practices whether or not to use the bonus malus system. In Cyprus premiums are not regulated by law and insurance companies follow a free pricing regime.

Insurance companies in Cyprus are not required by law to recognise your no-claims history in another EU country and factor this into your premiums. Despite this, several insurance companies in the Republic of Cyprus take this into account. However, it is up to the pricing practice of each insurance company to take this into account.

Documents issued in another EU country relating to no-claims history can be accepted under certain conditions. In most cases for certificates to be accepted, these must be issued and signed by the insurance companies and bear their original official stamp. Most Cypriot Insurance Companies will not accept certificates issued by intermediaries/brokers.

The certificates mentioned above should contain the following information:
1. name of the insured person / identity card number / company registration number
2. policy number
3. vehicle registration number
4. period for which the person / company was insured
5. type of cover
6. date of any accidents
7. claims paid / outstanding
8. whether the damages were Third Party damages and / or Own damages

How do I submit a complaint to an Insurance Company

If you have a complaint concerning the way an insurance company in Cyprus handled a matter that concerns you, or a decision it has made (e.g. in relation to a claim you have made for compensation) we recommend you follow the following procedures.

Obtain an appropriate complaint form from the local offices of your insurance company, or your insurance intermediary or from the company's web page. Alternatively, you may submit a complaint by sending an email, letter by post or fax. You can also submit a complaint by phone.

We advise that whichever way you choose for submitting your complaint, you provide a precise description of it, give as many details and information as possible and do not forget to also provide your Insurance Policy Number. The insurance company must respond back in 15 working days from the day the complaint is submitted, or the latest in 45 working days in cases where the delay can be justified by the nature of the complaint.

Dispute resolution

Taking into consideration the above, if you are not satisfied with the written response of the insurance company or the result, you have the right within 12 months from the date of submitting your complaint, to submit a signed complaint to the Financial Ombudsman of the Republic of Cyprus, by paying an amount of €20 (there is a relevant document in the website of the Ombudsman). The submitted complaint may be accompanied by a copy of the complaint which was submitted to the insurance company together with any response that you may have received.

Finally, you retain the right to take legal action for the adjudication of your disputes by a competent court of the Republic of Cyprus.

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 Last update on 09/12/2020