Insurance in Greece

Insurance in Greece

Insurance in Greece is an important piece of information that any visitor or resident in the country cannot miss. As a fact, Greece has a rich history and just so many things that will enthral any visitor. With a n insurance cover, you don’t have to keep bothered abut what may happen should an accident or any loss occur to you. Simply put, insurers in Greece make sure that while you focus on other things, they protect you.

In Greece, insurance is important as it protects one, gadgets, home, and cars. Through an insurance policy, one gets financial reimbursement and protection against losses. Moreover, it is important for Greece residents to take insurance since it covers uncertainties, investment opportunities, cash flow management, and peace of mind.

Health Insurance Greece

There is both private and public sector in Greece. The universal system delivers low cost or free healthcare to Greece residents. Also, compulsory social insurance contributions fund the public health system. Even though it is Athens’s central government that organises healthcare, delivery is on a regional basis.

In Greece, emergency services are provided to anyone, including EU and non-EU residents. It is also important to remember that the European Union members who are temporary visitors can get free or discounted healthcare through European Health Insurance Card (EHIC).

Any individual, including ex-pat residents as well as their families contributing to the Social Insurance Institute (IKA), qualify for health insurance in the nation. The social security system where contributions are made is AMKA. However, the easiest way of qualifying for public health is through employment.

In Greece, there is also private health insurance that can cover the selected or even all areas one needs health access. Public hospitals usually seem to be chaotic, and that is the reason some individuals opt for private insurance.

The following are the health care benefits one can receive:

  • Hospitalisation and hospital care
  • Medical care
  • Free dental treatment, orthodontic, and preventative dental care for minors till they reach 13 years of age
  • Treatment aids, glasses, hearing aids, orthopaedic items, and prostheses
  • Free transportation to public hospitals in case of an emergency or accident
  • Administration of medicine that needs the patients to contribute about 25% or 10% for some diseases
  • free rehabilitation and physiotherapy

Unemployment Insurance

Επίδομα Ανεργίας or the unemployment benefit is provided to employees over 16 years having unemployment insurance. It is the Labour Employment Office (OAED) that grants it. The unemployed individuals given the benefit are the ones whose contracts have expired or been dismissed. The condition to receive this benefit is about 125 days of working during 14 months period before being terminated.

There is also seasonal aid. There are some professional activities which cannot be exercised the whole year. Thus, these people do get seasonal employment, and the OAED pays them in the period they cannot engage in professional activity. The condition to get this is having “accumulated at least 50 to 240 insurance days in your sector and no more than 240 daily wages in the calendar year preceding the year of payment of the aid.’’

Car Insurance

In Greece, third-party insurance is mandatory. Besides, it covers the vehicle owner’s civil liability and other drivers. The insurance covers material damages and bodily injuries to the third parties because of accidents.

Tragic car crash
A badly wrecked car

Apart from the third-party insurance, one may add more insurance policy that means extra fees. The other insurances may cover roadside assistance. Moreover, comprehensive car insurance covers all the damages and risks to the driver’s vehicle.

Home Insurance

The Greeks should take home insurance to protect their homes and real estate in case something unexpected happens. There are different types of home insurance in Greece. The standard home insurance also covers one’s house from damage, smoke damage, explosion, wind, fire, and hail. Furthermore, the building insurance covers a building’s structure, including fixtures, painted walls, fittings, and floors.

There is also contents insurance. It covers items in the home, including pictures, jewellery, bicycles, and furniture. Lastly, the contents insurance covers burglary and fire. Moreover, it covers any theft and accidental damage when one is away from the house.

Life Insurance

In Greece, life insurance plays a major role in protecting the family and covering the mortgage. The life insurance even continues after one retires and cannot be insured with the employer. In addition, in cases the resources are less, then the life insurance can help the family maintain a quality life.

Life insurance plays an essential role in providing one’s loved ones with a financial future. In case of the insurer’s death, the insurance can settle the funeral arrangements. The insurance can also cover permanent or partial disability in case of an accident.

Travel Insurance

Greece is one of the best tourist attractions sites in the world. However, when visiting, it is important to have travel insurance as it covers medical costs and unexpected happenings such as the death of a loved one and one needs to travel back. Moreover, the insurance covers crimes or even the loss of luggage and important documents. The people travelling from Greece to other nations should take the insurance as it will help in covering the unforeseen events that may happen during the journey.

Pet Insurance

It is awful and stressful when a pet falls sick or gets injured. Thus, taking pet insurance can help the owner from having expected visits to the veterinary. In Greece, pet insurance covers the full costs of treating a pet when it gets ill, unexpected accidents, genetic conditions, cancer, and emergency care.

Apart from the above coverage, there are some policies that cover pet owner liability. They cover third party liability in case of accidents that take place because of omissions or negligence. Moreover, there is pet legal protection coverage that covers the criminal defence of the insured in cases of negligence.

Family Civil Liability Insurance

The insurance covers people as well as their families in case they are liable for any caused unexpected events. They must be legally and morally obligated to restore the damages to get the benefits. In addition, the insurance covers claims from material damages, loss of life, physical injuries to even pets.

Popular insurance companies in Greece

  • AIGAION INSURANCE S.A.
  • Allianz Global Life
  • ATLANTIC UNION S.A.
  • COMMERCIAL VALUE ANONYMI ASFALISTIKI ETA IREIA-YPO ASFALISTIK I EKKATHARISI
  • Eurolife FFH General Insurance Single Member Societe Anonyme
  • ERGO INSURANCE COMPANY
  • Geniki Panelladiki Mutual Insurance ltd
  • Inter Partner Assistance SA
  • NN Group
  • Generali Hellas Ασφαλιστική
  • Metlife
  • AXA