NP Insurance – NEW POSEIDON Greek Insurance Company S.A.

Driver age and experience limit

Drivers under 23 years of age or over 70 years of age must be declared at policy inception; failure to declare triggers a retroactive surcharge of 60% on the applicable annual premium. The same 60% surcharge applies if the vehicle is driven by a newly licensed driver (licence issued within the last 12 months before the accident) without prior declaration. The standard declared surcharge rate is 30% for young/elderly drivers declared at inception. Vehicles driven by young or elderly undeclared drivers are denied own-damage coverage.

Repair network requirements

No specific approved repair network requirement is stated in the available sources. The insurer appoints its own expert (πραγματογνώμονας) to assess damage before repairs commence; repairs must not begin before the insurer's assessment.

Territorial scope

Supplementary coverages (own damage, theft, fire, natural perils, glass) are valid exclusively within Greek territory. Mandatory third-party liability (MTPL) applies in Greece, EU, EEA and states participating in the unified international insurance agreement. For non-EU countries outside EEA, a Green Card is required and an additional monthly premium applies; no supplementary covers are provided outside Greece.

Anti-theft requirements

Convertible (cabrio) vehicles are only eligible for theft coverage if they have a hard roof. In the event of theft the insured must immediately report the theft to the local police station and to the insurer.

Claim notification deadline

Verbal notification of a loss must be made to the insurer's Claims Department within 3 working days; written loss declaration must be submitted within 8 working days. Repairs must not commence before the insurer's damage assessment (πραγματογνωμοσύνη). Failure to comply may affect claim settlement.

Deductible rules

Own-damage coverage (Ίδιες Ζημιές) carries a mandatory per-claim deductible chosen at inception: €400, €900, €1,500 or €3,000. Malicious-acts own-damage has a €300 deductible; own-damage during vehicle transport (ΤΡΙΑΙΝΑ) also carries a €300 deductible. Partial theft deductible: €200 in ΠΟΣΕΙΔΩΝ 25, €150 in ΤΡΙΑΙΝΑ. Glass damage (with-deductible option): 20% of claim amount, waived when CAR GLASS service is used. Fire due to strikes/civil unrest (ΠΟΣΕΙΔΩΝ 25/ΤΡΙΑΙΝΑ): €200 deductible. The deductible amount directly reduces the premium; higher deductibles correspond to lower premiums.

Road Assistance

24-hour roadside assistance including emergency towing, on-site repair, and vehicle transport for covered vehicle types (private cars, commercial vehicles up to 3.5 tonnes)

Accident Care Service

Comprehensive accident support including 24-hour claim notification center, on-site assistant dispatch, accident report completion, photo documentation, and vehicle towing

Fire and Natural Disaster Coverage

Coverage for material damage from fire, explosions, natural phenomena, and weather-related events; applicable to comprehensive motor insurance packages

Glass Breakage Coverage

Optional coverage for vehicle glass damage (windscreens, windows, lights); often included with deductible or deductible waiver options

Own Vehicle Damage Coverage (Mixed Insurance)

Comprehensive coverage for material damage to the insured vehicle from accidents, theft, fire, and natural phenomena; main component of comprehensive motor insurance (Casco)

Theft and Partial Theft Coverage

Protection against total or partial vehicle theft; standard component of comprehensive motor insurance packages

Bonus/Malus System (No Claims Discount)

Premium discount system based on claims history; percentage reductions applied to liability and own damage insurance premiums; discount accumulates up to 60% at year 4 and beyond

Deductible/Excess

Fixed or percentage-based amount payable by the insured in each claim; varies by coverage type and vehicle characteristics; may have deductible waiver options

Territorial Validity/Coverage Area

Mandatory third-party liability coverage applies within Greek territory, EU, EEA, and countries under unified agreement; supplementary coverages limited to Greek territory only

Driver Age Restrictions and Surcharges

Additional premiums for drivers under 23 years or over 70 years; must be declared at policy inception; failure to declare results in claim denial for accidents involving such drivers

Vehicle Type and Specification Limitations

Road assistance and towing services limited to private cars (ΕΙΧ), commercial vehicles (ΦΙΧ), and agricultural vehicles (ΦΙΧ-ΑΓΡΟΤΙΚΑ) with maximum gross weight 3.5 tonnes, wheelbase up to 3.5m, height up to 3.0m, and no dual rear wheels

Driver Intoxication Exclusion

Coverage is excluded or substantially limited if the accident involves a driver under the influence of alcohol or controlled substances; affects both liability and own damage claims

Policy Validity Period

Insurance policies are valid for a period of one (1) year; policies must be renewed before expiration to maintain coverage and no-claims discount benefits