We have facilities to insure most types of property, ranging from small households to multinational exposures both on a direct or indirect (reinsurance) basis.
Our Underwriting Authority/Direct placement Facilities for property insurance is €11,000,000 per risk. We have underwriting facility from Lloyd’s in London and Lumen Insurance (Trading brand of GasanMamo Insurance company in Malta) for both commercial buildings to private households.
Property & Buildings cover for damage to property or buildings. The reason for the damage might be a factor in the cover. For example, some insurance companies will not provide cover against damage to property caused by riot. Most natural causes of damage such as lightning, flood and storm will be covered but may make the premiums more expensive. Terrorist attacks may also not be covered so it is up to the business concerned to ensure that they specify what cover they want and that the insurance company concerned is prepared to cover that risk – it does vary considerably.
Contents Insurance taken out against damage or loss of contents in a business premises. For example, the firm might have suffered a break-in and had a number of computers stolen or the memory stolen from inside them or had PCs damaged during the break-in.
Our property insurance product range includes:
- Householder Comprehensive
- Commercial Property (Fire and Perils)
- Commercial All Risks
- Business Combined (Suitable for Retailers, Administrative Committees of properties, Restaurants, Cafes etc)
We offer very comprehensive motor insurance schemes for both private and commercial vehicles with competitive premiums. Our 75 years of experience helped us develop policies focused on customer needs.
We offer three levels of cover:
- Third Party only which is the minimum required by Law
- Fully comprehensive which extends to cover damage to your own vehicle, and
- Third Party Fire and Theft which is similar to comprehensive but restricts cover to Fire and Theft.
Car insurance cover includes:
- Road and Accident assistance – Accident Assistance is offered to everybody and in the case of an accident servicemen will come to the scene of the incident. Due to technical reasons Road Assistance is limited to vehicles less than 3.5 tonnes and cannot service motorbikes.
- All comprehensive policies cover natural hazards (eg damage due to hail, flooding or earthquake)
- All policies extend to provide off-road cover
- Free windscreen cover included
- Passengers’ liability to third parties included
- Towing Third Party liability included
- Most of our policies offer Third Party cover for any driver aged 25-75 holding at least 2 years of full license
- You can optionally protect your No Claim Bonus Discount
If you’re a keen golfer then you are certainly in the right place, with Cyprus offering some fantastic courses. Whatever your standard of play, you should consider protecting yourself with Golf Insurance. This provides cover for loss of clubs and equipment, personal accident, public liability, club membership fees and even the expense for every golfers dream, a hole in one.
Marine Cargo Insurance
Our Marine division operating through our binders at Lloyd’s, provides the full Spectrum of Services to both our retail and wholesale clients. Marine policies can cover goods, freight and other interest against loss or damage to goods whilst being transported by rail, road, sea and air.
Different clauses are available depending on the type of Coverage required ranging from ALL RISKS cover to a restricted Total loss only cover.
Transportation of goods is classified into three categories.
- Inland Transport
Various policies can be offered as follows:
Specific Voyage – to Cover only a specific single trip. The cover ends when goods reach destination.
Open Cover Policy – An open cover policy is an agreement whereby the insurer will accept insurance of all shipments made by the assured, within the terms of the cover for a fixed period. As the above is not a policy Certificates of Insurance are issued against the declaration made by the assured.
The open cover is of great convenience to the client engaged in regular import/export trade.
Who Can Take The Policy?
The contract of sale determines who buys the policy.
The most common contracts are:
- FOB (Free on Board)
- C&F (Cost and Freight)
- CIF (Cost, Insurance and Freight)
In FOB and C&F the seller is responsible to buy insurance. In CIF, the seller is responsible for insurance.
Select the Sum Insured
Usually 10-15 % in addition to the contract value should determine the sum insured.
How to claim
When there is a claim you should:
- Take steps to minimise loss
- Lodge monetary claim against carrier
- Inform the company or agent
- Submit the following original documents:
Business owners work very hard to establish themselves and to build up trade, most looking for a long term future for their business. That is why it is imperative that they protect themselves with the right insurance cover. TopQuotes can help with almost every type of business or trade, whether it is a large established company or a local sole trader just starting out.
We can offer the following types of policies:
- Business Contents
- Public Liability
- Employers Liability
- Professional Indemnity
- Product Liability
- Business Interruption
- Business Stocks & Contents
- Directors & Officers’ cover
- Contractors All-Risks