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Hi everyone,

My husband Steve and I are just in the first throws of buying our home in Cyprus. We intend to use it as a holiday home initially but have set ourselves a goal of moving over there within three years. Our house (soon to be our house) is in Paralimni in the east.

Can I just say that thsi forum has already answered so many questions for us.

I'm putting together my household budget and the one thing I can't find reference to is house insurance like we have in the UK. I have found some cost advice on contents but do you insure building over there?

Also, does anyone have private medical insurance? I've been told and read so many things but would still like to know the cost to make an informed decision.

Thanks in advance
Sharon&Steve
 

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It is wise to have insurance for the building as well as contents. Make sure any insurance covers you for earthquake damage. We don't get many earthquakes and t hose we do get are not usually severe ones but there have been some big ones in the past so better to be safe than sorry.
As for medical insurance, no point in worrying about that until you move here permanently.
 

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...I'm putting together my household budget and the one thing I can't find reference to is house insurance like we have in the UK. I have found some cost advice on contents but do you insure building over there?

Also, does anyone have private medical insurance? I've been told and read so many things but would still like to know the cost to make an informed decision.

Thanks in advance
Sharon&Steve
I guess that you're just looking for ballpark figures for budgeting purposes?

We rent (unfurnished) so just have house contents insurance with Abbeygate Insurance. The annual premium as at Oct 2014 was €112.51. It's a good policy with accidental damage cover. The Landlord is responsible for the building insurance, but of course if you buy here, you will need to purchase it yourself.

As far as medical insurance is concerned, we have a fairly good policy with Atlantic, which costs around €3,000 per year for the two of us. At first glance, this sounds expensive, but there are a couple of factors to bear in mind:

1. I (unfortunately) have a 'loading' of around 30% on my policy due to pre-existing 'conditions' which I was not aware of prior to my thorough medical.

2. If you opt to pay tax in Cyprus rather than the UK, the annual saving should cover the cost in full.

Of course, there are cheaper and more expensive policies available. As they say - "You pay your money and you take your chance"....
 

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I guess that you're just looking for ballpark figures for budgeting purposes?

We rent (unfurnished) so just have house contents insurance with Abbeygate Insurance. The annual premium as at Oct 2014 was €112.51. It's a good policy with accidental damage cover. The Landlord is responsible for the building insurance, but of course if you buy here, you will need to purchase it yourself.

As far as medical insurance is concerned, we have a fairly good policy with Atlantic, which costs around €3,000 per year for the two of us. At first glance, this sounds expensive, but there are a couple of factors to bear in mind:

1. I (unfortunately) have a 'loading' of around 30% on my policy due to pre-existing 'conditions' which I was not aware of prior to my thorough medical.

2. If you opt to pay tax in Cyprus rather than the UK, the annual saving should cover the cost in full.

Of course, there are cheaper and more expensive policies available. As they say - "You pay your money and you take your chance"....
Just a question. Does the insurance cover anything that has to do with your pre-existing conditions?
 

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Just a question. Does the insurance cover anything that has to do with your pre-existing conditions?
The medical discovered 5 existing conditions. The underwriters agreed to cover 2 of them with a 'loading' on the premium.

The other 3 are not covered - nor any condition arising from them.

The last bit perplexed me and I queried with the underwriters, through the broker (Atlantic) what sort of things could arise. I was told that it would be a medical decision, and they were unable to give a definitive answer.

Despite all this, I was happy to take out the policy as the main risks to someone at my age and lifestyle (cancer and heart attack) are certainly covered, along with most other diseases, illnesses or accidents.
 

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We pay about €1200 per year with an €800 excess. Without the excess it would have been €2000. So we would pay the first €800 for any claim but we are covered for up to 2million in case of having to go to another country for treatment if it isn't available here.
We use a mixture of private and state care but definitely in case of major illness would want to go totally private.
 

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Discussion Starter #7
I guess that you're just looking for ballpark figures for budgeting purposes?

We rent (unfurnished) so just have house contents insurance with Abbeygate Insurance. The annual premium as at Oct 2014 was €112.51. It's a good policy with accidental damage cover. The Landlord is responsible for the building insurance, but of course if you buy here, you will need to purchase it yourself.

As far as medical insurance is concerned, we have a fairly good policy with Atlantic, which costs around €3,000 per year for the two of us. At first glance, this sounds expensive, but there are a couple of factors to bear in mind:

1. I (unfortunately) have a 'loading' of around 30% on my policy due to pre-existing 'conditions' which I was not aware of prior to my thorough medical.

2. If you opt to pay tax in Cyprus rather than the UK, the annual saving should cover the cost in full.

Of course, there are cheaper and more expensive policies available. As they say - "You pay your money and you take your chance"....
Thank you this is great. I've heard Abbeygate mentioned by a few people on this forum so I assume they offer good value. We should complete on our purchase in about 6 - 8 weeks so i'll get some quotes.

Medical insurance - I guess we have to see what out medical throws up then!
 
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