AIG Europe S.A. (Cyprus Branch)
AIG
AIG is a motor casco insurance for the Cyprus market with no online purchase and 24/7 assistance.
Direct payment
The premium can be paid either in one payment upon issue of the policy, or, if specifically agreed and mentioned in the policy schedule, in instalments when the policy premium exceeds €300. Payment can be made by cash, cheque, bank transfer, direct debit or debit/credit card.
Geographic scope
Cyprus (including the occupied territories)
Covers Cyprus, including loss or damage occurring in the occupied territories of Cyprus. Mandatory third-party liability cover extends to any EU member state or state signatory to the Multilateral Guarantee Agreement; other covers of the policy extend to those states for up to 30 days.
Unique selling points
- Comprehensive policy explicitly covers loss or damage occurring in the occupied territories of Cyprus, unlike most competitors.
- Includes accidental windscreen damage cover up to €1,200 with no excess applied.
- New motor vehicle replacement benefit for vehicles less than a year old.
- Optional no-claim bonus protection covers up to 2 claims within a 3-year period.
- Policy documentation is available in clear Greek or English language.
Coverage limits
Own Damage (Accidental Damage)
100% of insured sum
Only in Comprehensive
Covers own damage to the insured motor vehicle from an accident at the policyholder's own fault. The overall limit of this cover is the market value or the declared value of the vehicle, whichever is less.
Total Loss / Theft Beyond Economical Repair
100% of insured sum
If the motor vehicle is stolen or damaged beyond economical repair, the maximum payable is the lesser of the market value or the value of the vehicle as declared by the policyholder.
Partial Loss (Accidental Damage)
100% of insured sum
Only in Comprehensive
Partial damage to the insured vehicle from an accident is covered under the own damage benefit, subject to the overall market/declared value limit.
Theft
100% of insured sum
Loss or damage to the motor vehicle caused directly by theft, up to the market value or the declared value of the vehicle, whichever is less.
Windscreen Damage
€1,200
Only in Comprehensive
Accidental damage to the windscreen is covered up to €1,200 without applying any excess under the Comprehensive cover. Additional glass/window breakage is available under the optional Wide Coverage extension. Note: the AIG product overview page groups this benefit under the optional 'Wide Coverage' extension, but the product-specific IPID for Road Star lists it as included within the base Comprehensive cover.
Natural Perils
Covered
Only in Comprehensive
Covers damage to the motor vehicle from natural perils (earthquake, flood, hail, storm, tempest) and other natural perils not specifically excluded, subject to the overall market/declared value limit. Note: the AIG product overview page groups this benefit under the optional 'Wide Coverage' extension, but the product-specific IPID for Road Star lists it as included within the base Comprehensive cover.
Social Perils (Riot, Malicious Act, Vandalism)
Covered
Only in Comprehensive
Covers damage to the motor vehicle from social perils, including riot, civil commotion, malicious act and vandalism, subject to the overall market/declared value limit. Note: the AIG product overview page groups this benefit under the optional 'Wide Coverage' extension, but the product-specific IPID for Road Star lists it as included within the base Comprehensive cover.
24-Hour Road Assistance
Covered
Only in Comprehensive
24-hour road assistance and 24-hour accident assistance are included. Road and accident assistance is provided by a contracted company on a public road in an area controlled by the Government of the Republic of Cyprus or the Sovereign Base Area.
Loss of Use Extension
€250
Only in Comprehensive
Extension for loss of use of the motor vehicle pays €25 per day, up to a maximum of 10 days (up to €250 total), in the event of an approved claim (no replacement car provided). Note: the AIG product overview page groups this benefit under the optional 'Wide Coverage' extension, but the product-specific IPID for Road Star lists it as included within the base Comprehensive cover.
Personal Accident to Authorised Driver
€8,500
Only in Comprehensive
Personal accident cover for an authorised driver of up to €8,500 for certain bodily injuries set out in the policy; medical expenses of the authorised driver and passengers are covered up to €850.
Key conditions
Driver age and experience limit
The policy does not state a specific minimum age or experience threshold, but confirms that an additional excess is applied for young and inexperienced drivers.
Repair network requirements
Not specified in the available sources.
Territorial scope
Covers Cyprus, including the occupied territories, for loss or damage to the vehicle. Third-party liability required by law extends to any EU member state or Multilateral Guarantee Agreement signatory; other policy covers extend to those states for up to 30 days.
Anti-theft requirements
Not specified in the available sources.
Claim notification deadline
The policyholder must notify AIG or their intermediary as soon as reasonably possible in the event of loss or damage to the motor vehicle.
Deductible rules
AIG is not liable for the excess applied to each and every covered loss or damage to the motor vehicle, and an additional excess applies for young and inexperienced drivers.
Documents
Auto Insurance Product Information Document (IPID) - Road Star
IPID
Policy specifics
Wide Coverage (Optional)
Optional layer including windscreen/window breakage, locks and keys, personal items, strike/riot/civil commotion, natural perils, and loss of use of insured car
SourceNew for Old (Optional)
Optional add-on benefit providing replacement with new vehicle for damaged parts or entire vehicle under certain conditions
SourceNo Claim Protection (Optional)
Optional add-on benefit protecting no-claims bonus status even if a claim is filed during the policy period
SourceCoverage in Occupied Territories
Distinct feature: policy explicitly covers loss or damage to motor vehicle occurring in the occupied territories of Cyprus, unlike most competitors
SourceValid Driving License
All drivers must hold a valid driving licence for any motor vehicle being driven and must follow the conditions of that licence
SourceVehicle Maintenance Obligation
Policyholder must take all reasonable steps to prevent motor vehicle and its contents from being lost or damaged, and maintain the vehicle in sound condition
SourcePremium Payment Terms
Premium can be paid either in one payment upon issue or in installments (if premium exceeds €300 and specifically agreed and mentioned in policy schedule). Payment methods include cash, cheque, bank transfer, direct debit, or debit/credit card
SourceThree Coverage Options Available
Policy offers three distinct coverage tiers: (1) Comprehensive cover (third party liability + own damage), (2) Third Party Liability, Fire & Theft cover, and (3) Third Party Liability only cover
Source