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P&M Insurance Brokers: 5+1 Tips on Choosing the Best Insurance Company in Cyprus

Apr 05, 2021 (0) comment

Definition, requirements, coverages, exclusions etc… choosing the right insurance plan and generally an Insurance Company in Cyprus can be a difficult decision, but have you imagined how your life would be if you haven’t had any?
Imagine losing everything in a fire incident, or if you had a car accident because you were not “smart” enough to buy insurance. 

Well we don’t want to imagine how things would be and in order to prevent anything of the above from happening, today we’re addressing 5+1 tips on choosing the Best Insurance Company in Cyprus!

1. Insurance company vs. independent contractor.

Most people, when they get involved in a car accident and the first person they’re going to call is their parents to ask who their insurance provider is. Why? Because they simply do not know who they’re insured with!
Independent insurance companies and agents provide and sell the services provided by the insurance company. Their job is to locate the insurance provider that suits their client’s needs the best.
At Prodromou & Makriyiannis Brokers we offer our clients a number of options when it comes to insurance. In addition to the international co-operations, we hold various agency agreements with local Insurers in Cyprus, such as AIG, Metlife, Altius Insurance, General Insurance of Cyprus, Pancyprian, Allianz, Cosmos Insurance, Prime Insurance, Atlantic Insurance, Eurolife, Universal Life and Trust Insurance.

2. Reputation of the company.

This might be one of the most important factors when choosing the Best Insurance Company in Cyprus. It is wise that you “study your homework” and find more information regarding the company you want to work with, i.e: how long they’ve been in business, their best selling points, their vision, the product types they sell, as well as its financial strength (especially when you’re dealing with a difficult claim, the last thing you want to hear is that your insurance provider is unable to fund your claim due to poor and insufficient financial performance!)
At Prodromou & Makriyiannis we benefit from a wealth of experience and years of successful co-operations. We focus on the quality of service we provide combined with tried and tested security for our clients’ peace of mind. 

3. Coverage

Choose an insurance company that offers sufficient coverage for your personal or business requirements.

4. Cost

Though price is an important factor to consider when buying insurance, it should not be the critical factor to base this decision, as different companies charge differently from others. For example, if you choose to pay a cheaper amount or package then maybe the coverage might be less, thus spending more money out of your own pocket in case of a serious incident. A cheaper price could also be an indicator that the company is fairly new to the market and does not have much experience in certain fields. 

5. Packages/Discounts and Communication

When choosing an Insurance Company in Cyprus, always check all the available means in which you are able to communicate with them and the various packages or discounts they offer that fit your needs. These may include and not limited to:

– Online claim form filling
– Online bill pay
– 24/7 customer support
– Billing enquiries
– Social Media channels
– Policy updates
– Protective equipment
– Property insurance
– Motor insurance
– Travel insurance

6. Referrals

Word-of-mouth often can be the best way in finding out whether or not an insurance company will be good for you. Ask to hear about your family’s or friends’ experiences with your interested insurance company before taking your decision.

We are one of the largest insurance agency firms in Cyprus bringing together 75 solid years of dedicated service to the industry, servicing both you – the client –  and the insurers we represent through meticulous underwriting and strong management.
We are aware that choosing the best insurance company in Cyprus is a hard decision with a lot to think about before making the final decision, but we can assure you that we can provide you with a customised low-cost insurance quote based on your needs & objectives.

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