Caravela - Companhia de Seguros, S.A.
Caravela
Caravela is a motor casco insurance for the Greece market with online purchase and limited assistance availability.
Direct payment
Caravela is not a member of the friendly settlement scheme (φιλικός διακανονισμός). Claims are handled through Brokins as the exclusive representative. Accident management service handles towing to a cooperating workshop or customer's preferred workshop within the same prefecture where the accident occurred.
Geographic scope
Greece (nationwide)
Coverage applies within Greece; distributed exclusively through Brokins as the special representative of Caravela in Greece.
Unique selling points
- Caravela maintains an exceptionally high solvency ratio of 204.24%, providing strong financial guarantees for prompt claim settlement.
- Caravela offers discounts of up to 43% for customers who choose annual policies, making comprehensive coverage more accessible.
- A dedicated accident management service handles all on-site procedures including damage recording, accident reporting and towing, relieving the customer of all administrative burden.
- Vehicle indemnification is calculated based on the real current market value without arbitrary reductions, ensuring fair compensation.
- The portfolio is reinsured by a group of leading international reinsurers led by Axis Re, ensuring robust claims-paying capacity.
Coverage limits
Own Damage (Comprehensive / Μικτή)
Covered
Included in the Complete (Μικτή) tier. Covers own vehicle damage resulting from collision, accident or other insured perils. Exact limit is the insured vehicle value as stated in the policy. Not available in the fire-and-theft-only tiers (Premium/Value).
Total Theft / Total Loss
Covered
Total theft is covered under both the fire-and-theft tiers (Premium/Value) and the Complete (Μικτή) tier. Compensation is based on the current market value of the insured vehicle, subject to deductible as stated in the policy.
Partial Theft
Covered
Partial theft (damage resulting from an attempted theft) is covered under the fire-and-theft tiers (Premium/Value) and the Complete tier, subject to deductible as stated in the policy.
Theft and Fire
Covered
Full and partial theft of the insured vehicle as well as fire, lightning strike, explosion and terrorist acts are covered under the Premium/Value and Complete tiers. Deductible applies as stated in the policy.
Glass / Windscreen Damage
Optional
Available as an optional add-on via insurancemarket.gr from approximately €1.67/month. Not included by default in any Caravela casco tier.
Natural Perils (Floods, Storms, Hail, Earthquake)
Covered
Damages caused by natural perils including forest fire, flood and earthquake (under Greek Law 5162/2024) are covered in the Premium/Value and Complete tiers. Deductible is the amount stated in the insurance offer and policy document.
Vandalism / Malicious Damage
Covered
Coverage for damages from fire due to strikes, riots and civil disturbances, arson, explosion or fire from political unrest, covered under the fire-and-theft tiers (Premium/Value) and Complete. Exact limit as stated in the policy.
Roadside Assistance
Optional
Available as an optional add-on via insurancemarket.gr from approximately €2.41/month, and via Magenta Insurance at €29.50/year. Not included by default in Caravela casco tiers. Towing to a cooperating or customer-chosen workshop in the same prefecture is included in the accident management service for accident cases.
Replacement Vehicle
Not offered
No source explicitly mentions a replacement vehicle benefit in the Caravela casco product for Greece.
Driver Personal Accident
Optional
Compensates the driver of the insured vehicle, or their next of kin/heirs, in the event of death, injury or incapacity for work resulting from a road traffic accident. Available as an optional coverage according to the Caravela product offering via Cosmote/Magenta Insurance.
Key conditions
Driver age and experience limit
No specific driver age or experience limit is stated in the available sources for the Caravela casco product in Greece.
Repair network requirements
Caravela arranges towing of the vehicle to a cooperating workshop or to a workshop of the customer's choice within the same prefecture (νομός) where the accident occurred.
Territorial scope
Coverage applies within Greece. Caravela operates in Greece exclusively through Brokins as its special representative.
Anti-theft requirements
No specific anti-theft device requirements are stated in the available sources for the Caravela casco product in Greece.
Claim notification deadline
No specific claim notification deadline is stated in the available sources. Claims and accident management are handled through Brokins.
Deductible rules
A deductible applies in the event of a claim for which the insured is responsible or for collisions with an unidentified third party. The deductible amount is specified in the insurance offer and the policy document. Natural perils (forest fire, flood, earthquake under Law 5162/2024) are also subject to a deductible as stated in the policy.
Where to buy
Documents
Caravela – IPID for Motorcycle/Moped Insurance (Brokins)
ipid
Policy specifics
Fire and Theft Coverage
Comprehensive coverage for fire damage, total theft, and partial theft of the insured vehicle
Natural Disasters and Weather Coverage
Coverage for damages caused by natural disasters, floods, storms, hail, and other weather phenomena
Uninsured Vehicle Coverage
Coverage for material damages caused by collision with an uninsured vehicle that is solely responsible for the accident
Accident Care and Management
Caravela assumes handling of accident procedures including damage recording, accident reporting, and vehicle towing
Vehicle Value Guarantee
Ensures that compensation is calculated based on real market value without arbitrary reductions
Repair Network or Repair Approval Condition
Vehicle must be transported to cooperating repair shops or customer's preferred workshop within the same province where accident occurred
Deductible Application
Insurance deductible applied in case of responsible damage or collision with unidentified third party, amount specified in policy document
Third Party Liability Limit
Mandatory coverage for third-party bodily injury and property damage liability, typically €1,300,000 minimum limit