MOTOR INSURANCE

Understanding your auto insurance coverage

Auto insurance helps financially protect you and those you care about . Depending on the coverage options you select, your insurance can :

• Pay for damage and repairs to your car in an accident .
• Cover damage to another car or other property in an accident .
• Pay for total or partial loss of your vehicle , due to theft .
• Cover expenses for damages caused by fire to your vehicle .
• Pay for legal representation in case of an automobile – related lawsuit .
• Reimburse you for damages suffered because of vandalism and natural disasters .
• Pay for losses caused by uninsured vehicles .

Auto insurance can seem confusing. But once you understand the different types of coverages that make up your policy, it’s not hard at all.

Most insurance companies in Greece offer three main packages for auto insurance :

1. Third party liability coverage ( Compulsory by Greek law )
2. Fire and theft ( optional )
3. Fully comprehensive ( optional )

A brief explanation of each coverage part is listed below

Third party liability insurance ( compulsory )

BODILY INJURY TO OTHERS

This coverage pays for damages if you are legally responsible for an accident in Greece injuring someone else . It also provides for legal defense and court costs .

PROPERTY DAMAGE

This coverage pays for damages to someone else whose auto or other property is damaged in an accident if you , or someone using your auto with your consent is legally responsible .

Fire and theft insurance ( optional )

All the above and …..

FIRE

This coverage will pay for total or partial loss of your vehicle after an event of accidental fire due to electrical or mechanical fault .

VANDALISM AND TERRORIST ACTS

Pays for damages to your vehicle , if you are a victim of terrorist attack or vandalism . Excess might be applicable .

BREAKAGE OF WINDOWS ( EXCLUDING SIDE MIRRORS )

Will compensate any loss from breakage of your rear-side or front vehicle windows from any cause whatsoever . In some cases excess might be applicable .

TOTAL OR PARTIAL THEFT

This will totally or partially reimburse you for losses due to theft . Usually pays after a period of 3 months from officially declaring to the local authorities ( police ) the event . Excess can be applicable .

WIND, HAIL, STORM, FLOOD

This will pay for direct and accidental damage to or loss of your auto , due to non collision situations , such as wind, hail, storm, flood . Excess can be applicable .

AUTO ASSISTANCE

This service will cover all expenses for the towing of your car to the nearest authorized garage , in the event of mechanical – electrical breakdown , or in the event of a car crash , were your vehicle is not able to move under its own powers .

UNINSURED VEHICLES COVER

Pays for losses caused by uninsured vehicles .

Fully Comprehensive

All the above and ……

DAMAGES CAUSED TO YOUR OWN VEHICLE DUE TO ACCIDENT

Compensation of the costs required to bring your vehicle back to its previous state , after an accident caused by your own responsibility. Excess always applicable .

Note : The above information is only a general description of the available coverages and is not a statement of contract . Some coverage may be subject to individual insureds meeting underwriting qualifications and to availability .