The law is clear and straight forwards. It requires that any motor vehicles used on Greek and European highways and byways have a plan in place. You have to go for the an absolute smallest fee and get an adequate third-party insurance cover plan.
Car insurance can be expensive, especially for young or inexperienced drivers. Many people see it as an annoying and scarring expensive.
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So how exactly does a new buyer realise that the actual car insurance policy he’s purchased provides him sufficient security?
This is a guideline in Greece to assist you know that much better: autoinsureguide.com.
It’s not uncommon to hear people complain that they shouldn’t be required by law to have insurance and that they are a careful driver.
If you agree with these sentiments, then think about it this way.
Would you be happy to foot the bill to repair your car if someone crashed into it because they don’t have insurance? Even if they were sure it was unnecessary and they thought they were a careful driver?
The law is in place to ensure protection for every motorist on the roads. While some may disagree, it does actually make sense for it to be this way.
When people think about car insurance, they tend to focus on the protection it offers to others. Think of the policy paying out for the damages cause to other people’s property.
It actually provides much more than this.
If it wasn’t for third-party cover, the victims of the damage could pursue the driver. They also could seek financial compensation. That would have to be paid out of the driver’s own pocket.
For most people, their car is a valuable asset to them. The legal least amount paid for a third-party does not provide the cover that they are after.
This is why insurance companies offer a range of options. They aim to cater for the requirements of a range of people and vehicles.
Deciding on what level of cover you need is usually pretty simple. It will depend on the value of your vehicle, your financial situation. Some times your attitude towards risk plays a huge role.
Do you have a car that you see as utilitarian and is only worth a small amount of money? Then the comprehensive cover would actually be overkill. The increase in premiums wouldn’t be worth it to cover a repair to a car that would likely be cheaper to replace.
Choosing between third-party and third-party fire and theft (TPFT) isn’t quite as straightforward.
- If you are risk adverse then opting for the extra cover may make you feel better.
- If you think more like saving money on the insurance is worth risking to drive a few days without coverage.
- If you have stolen the car, then the third party is the way to go.
The amount that car insurance will cost you depends on many things. If you want a cheap car insurance then you may have to shop around a bit.
Bear in mind that ‘cheap’ is relative.
A 17-year-old trying to buy insurance for a hot hatch may feel anything under a grand is cheap. To a middle-aged person insuring the same car, such an amount would seem astronomical.
Do You Need a Cheap Car Insurance?
We assume you do as you are reading this. There are certain steps you can take.
The first is to prepare your shelf to shop around.
We are here to help on this front by providing listings of the best insurers in the Greece or in the whole Europe. All you have to do is to check our links.
Second, you can make the car as secure as possible.
Fitting Thatcham or Sold Secure approved anti-theft devices can help lower premiums. If you have a garage then clear out the junk and make room for the car, as this can have a large effect on the insurance cost.