General Insurance of Cyprus Ltd (trading as Genikes Insurance)
Genikes Insurance
Genikes Insurance is a motor casco insurance for the Cyprus market with online purchase and 24/7 assistance.
Direct payment
The GIC (Genikes Insurance / General Insurance of Cyprus) Comprehensive motor (Casco) policy wording does not guarantee automatic direct settlement with the garage. Instead, the Company's own terms state that it has the right to choose, at its discretion, either to pay the policyholder a monetary amount for the loss or damage, or to repair, reinstate, or replace the vehicle (or its parts/accessories) itself. In practice this means GIC may arrange and pay for the repair directly (which can function as a de facto direct settlement with the repairer), or alternatively indemnify the insured in cash, with the choice of method resting with the insurer rather than being a contractual guarantee of direct-to-garage payment.
Geographic scope
Cyprus
Vehicle damage cover applies only in Cyprus, excluding areas where the Republic of Cyprus does not exercise effective control; third-party liability cover extends to Cyprus (same exclusion) and to states that have signed Part III of the Unified Agreement.
Unique selling points
- All Genikes Insurance vehicle policies, including Comprehensive Plus, come with a free 24-hour Motor Assistance service for roadside help and on-the-spot accident care.
- Comprehensive Plus includes a protected no-claims discount after a single claim as standard, with an upgrade to two-claim protection available for privately owned vehicles.
- Windscreen and window glass breakage is covered up to €525 per policy year as a standard part of Comprehensive Plus, not just as a paid extra.
- Policyholders can flexibly pay premiums annually or via recurring monthly instalments by card or SEPA direct debit.
Coverage limits
Own damage cover
Covered
Comprehensive Plus covers loss of or damage to the insured vehicle caused by fire, explosion, lightning or theft, and loss or damage due to collision, impact, overturning or malicious damage; the Company's liability for damage to the vehicle is restricted to its reasonable market value at the time of the loss and shall not exceed the amount specified in the policy.
Total loss settlement
Covered
Compensation for total loss of the insured vehicle is restricted to its reasonable market value at the time of the loss and shall not, under any circumstances, exceed the amount specified in the insurance policy.
Partial loss / damage repair
Covered
Repairs to the vehicle following partial loss or damage are covered subject to a deductible, specified in the insurance policy, payable for each claim (excluding windscreen damage).
Theft cover
Covered
Loss of or damage to the insured vehicle caused by theft is covered, subject to the reasonable market value cap described above.
Windscreen / window glass cover
€525
Cover for breakage of the windscreen or window glass of the vehicle during any one Period of Insurance is limited to €525 in aggregate.
Natural perils cover
Excluded
Comprehensive Plus does not include cover against natural hazards; this benefit is only provided under the higher Comprehensive Superior plan.
Malicious damage / vandalism cover
Covered
Loss or damage to the vehicle due to collision, impact, overturning or malicious damage is covered under Comprehensive Plus.
24-hour roadside assistance
Covered
All Genikes Insurance vehicle policies, including Comprehensive Plus, provide free 24-hour Motor Assistance for roadside assistance and accident care.
Replacement vehicle
No limit stated
A replacement vehicle service is not provided. Comprehensive Plus instead offers a separate loss-of-use benefit (see product_specific_constraints) compensating for the days the vehicle is off the road for repairs, limited to 7 days for private vehicles.
Driver/passenger personal accident cover
Excluded
Personal accident cover for the insured and/or spouse is not part of Comprehensive Plus; it is offered as an optional add-on under the Third Party Fire and Theft Plus plan and is included as standard only in Comprehensive Superior.
Key conditions
Driver age and experience limit
The protected no-claims discount applies only to one claim not exceeding €5,000 within the last five years, submitted by a driver aged over 23 and under 70 years who has held a driving licence (other than a learner's licence) for more than five years. Separately, the cover for driving another vehicle terminates when the policyholder turns 75 years of age.
Repair network requirements
Not specified in the product documentation.
Territorial scope
Vehicle damage cover applies only in Cyprus, excluding areas where the Republic of Cyprus does not exercise effective control; third-party liability cover extends to Cyprus (same exclusion) and to states that have signed Part III of the Unified Agreement.
Anti-theft requirements
Not specified in the product documentation.
Claim notification deadline
In the event of an occurrence that may give rise to a claim, the policyholder must call immediately the telephone number indicated in the insurance policy and follow the Company's instructions.
Deductible rules
A deductible, specified in the insurance policy, is payable for each claim in respect of damage to the vehicle, excluding damage to the windscreen.
Where to buy
Policy specifics
Loss of use of vehicle
Comprehensive Plus covers loss of use for up to 7 days (private vehicles only)
SourceProtected no claims discount
Comprehensive Plus provides protected no claims discount after one claim
SourceCollision and malicious damage cover
Comprehensive Plus covers loss or damage to vehicle due to collision, impact, overturning and malicious damage, in addition to fire, explosion, lightning and theft
Source24-hour Motor Assistance service
All Genikes Insurance vehicle policies provide free 24-hour Motor Assistance for roadside assistance and accident care
SourceOptional trailer cover
Comprehensive Plus allows optional addition of trailer cover and enhanced no claims discount protection (two claims for private vehicles)
SourcePrivate vehicle only restriction
Loss of use benefit and certain other coverages apply only to private vehicles
SourceCyprus geographic coverage limit
Coverage is provided in Cyprus, excluding areas where the Republic of Cyprus does not exercise effective control
Source