What to look out for when you buy car insurance in Greece!
When driving in Greece, good car insurance is essential since Greece has one of the highest accident rates in the European Union. On the other hand the insurance companies that operate in Greece are more than 100! This means that you need to be extra carefull when selecting one of them as they may not have the know-how or financial capabilities to support their customers.
So when you look out for insurance in Greece you should not only base your decision on premiums. Some insurers have lower premiums, but end up costing you more in the end by lowballing loss estimates, hassling the repair shop to cut costs, and forcing you to pay extra for replacement parts. They might even raise your premiums after an accident.
Instead, look for reputable companies that will give you value for money, big organisations or International firms who also operate in Greece like the ones selected to be partners of insuranceline.
Below are some points to take into consideration:
1) Insurer’s Financial Base And Record
Before buying an insurance cover, check the time-frame offered by the company to settle the claims it receives. Also, check the actual solvency margin of the insurer you’re going to register to. Your insurance advisor should be able to determine the stability of the insurers before including them in you options.
2) Road Assistance Service
If you are looking for an insurance plan that covers for more than the accidents make sure that you will be covered for any reason that the car is immobilised (e.g. flat tire, out of petrol, mechanical failure etc).
3) Green Card
Check whether this is issued at no cost or you’ll have to pay extra premiums to get it.
4) Vehicle Commercial Value
Your contract should be revised every year in order to reflect the correct commercial value of your vehicle. If you fail to do this, you might end up paying higher premiums for a value which will not be compensated in the case of an accident.
5) Insurer Availability
The insurer should be accessible through a 24-hour customer support and should have various means through which you can communicate with them in the case of an emergency.
6) Un-Insured Drivers Coverage
More than a million vehicles in Greece are covered by an insurance plan. Moreover, a drunk driver is considreder as an uninsured driver in Greece! Therefore, it is important to check whether your insurance plan covers for uninsured drivers.
7) Review All of Your Coverage
Your liability coverage pays for bodily injury and property damage that you can also cause in accidents. Be carefull on how much you reduce your liability limits. Buying more coverage might seem an odd way to save, but the benefit comes in the case of a costly claim which can put your life’s savings at risk. Also, think about personal injury protection and medical payments coverage.
