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Choosing the right home insurance among a growing number of players

Given the rising demand for home insurance, which was up by 6.9 per cent in the first quarter of 2019, people should be aware of certain factors in order to choose the right policy.

The Cyprus insurance sector has in recent years been marked by impressive growth rates, which now surpass pre-crisis levels. Contained within the rising figures are increasing numbers of people who opt to protect their homes and possessions with a home insurance policy, recognising the necessity of what had once been considered an unnecessary expense.

With an increasing number of companies now offering home insurance in Cyprus, consumers should use certain criteria to assess whether they are getting the best of what the market can offer.

First, of paramount importance should be the price. The quest for the ideal home insurance policy begins with a little window shopping in view of finding the one with the best value for money. Examine the offers running at the time and get quotes from as many firms as possible, while always remembering to factor in the extent of the coverage at the stated price.

Second, a home insurance policy is only as good as the trustworthiness of the company offering it. Look for home insurance policies with transparent terms of cover, which should be communicated simply and clearly, and ideally, publicly on their website.

A third important criterion is your time. Among the rising numbers of home insurance options on offer, some are trying to do things differently and better. Companies like Anytime Insurance are now offering direct and simple procedures for writing up a home insurance policy.  Through an easy-to-use form online, home insurance shoppers need only to submit the size of their property in square metres and have a quote in their email in just a few minutes.

The same applies to the hour of judgement, the moment when something unfortunate happens and you request compensation as per your home insurance policy. Many are weary of the fact that it may be easy to find the ideal home insurance policy, but it’s usually far trickier and more complicated to receive the compensation you may be entitled to. So be sure to factor in the company’s procedures for compensation, though their success can also be measured by the company’s client satisfaction rates.

An additional factor by which to measure the desirability of signing with a particular company is their customer service. Look for first-rate staff and ideally a 24-hour customer service availability, because you never know when you’re going to need them.

From some window shopping, you’ll find that all above boxes can be ticked by one company which has been a gamechanger in the insurance sector since it launched in Cyprus in 2017.  Anytime has changed the way insurance policies work, through pioneering methods for property value calculation, value for money coverage, and fast procedures.

Recognising that insurance companies often assign unrepresentative value to a property due to its location, Anytime only requires the size of the property for the calculation of the value of a property, with prices starting from just €1 per square metre including cover against fire. Anytime represents the new, transparent, and consumer-friendly world of insurance coverage, with a client base of over 19,000 and records of 32,000 customer service calls since launching in Cyprus two years ago.

Choosing the right home insurance can be a daunting task, so why not Anytime?


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