What to look out for when you buy Car insurance in Greece!
Insurance policies can be technically complex, especially for non-native speakers. Important terms are often unclear at purchase time.
According to the Bank of Greece’s website, over 100 insurance companies operated in Greece. Legal registration doesn’t guarantee financial stability—companies like Evima, Diethnis Enosi (2013), and International Life (2016) were suspended, leaving thousands without coverage.
Rather than choosing based solely on low premiums, consumers should select reputable companies offering genuine value. Cheap rates may indicate a firm’s financial struggles rather than a bargain.
Six Important Tips When Buying Car Insurance
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Financial stability: Research the company’s financial record, claim handling timeframe, and solvency margin
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Road Assistance: Confirm coverage extends beyond accidents to include breakdowns (flat tires, mechanical failure, etc.)
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Green Card: Verify whether international insurance documentation is included or requires additional fees
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Vehicle valuation: Ensure annual contract reviews reflect current commercial value
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Accessibility: Confirm 24-hour support availability when advisors are unavailable
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Uninsured driver protection: Verify coverage exists (notably important given over one million uninsured vehicles in Greece)
Critical Warning: A drunk driver is considered a driver with no insurance cover by the Greek insurance firms!