Car Insurance In Greece

It is a good idea not to risk buying a car in Greece as it has the highest number of accidents in all of Europe. That is why insurance is a must here. The article sums up how you can get insurance, what type of insurance is necessary, and how to claim insurance in case of a mishap. 


Is Car Insurance Required In Greece? 

Car insurance in Greece is a part of the rental agreement you sign when you move here. You will have to have a minimum insurance package, if not more. You must have property damage 1300 000, personal injury 1300 000, and financial loss insurance. 

Three Car Insurance Types In Greece 

Insurance is made up of three types here in Greece. Each type covers different costs. They depend upon what plan you have opted for. The three types are :

  1. Standard 
  2. Extended 

Let’s look at these in detail now. 

Standard Coverage 

The standard insurance is at times included in car rental. This includes the following: 

  • Theft protection is for car theft and usually includes a deductible specified in the agreement. Different types of insurance will have different percentages in the agreement. A deductible is the maximum monetary amount responsible for those who get the car. Whatever happens to the car, the renter will not have to pay more than the deductible amount. 
  • Third-party liability: this insurance is for accidents that might happen. If the renter causes the accident, the insurance company must pay for it. If you do not have extended insurance, this situation will be heavy on your pocket as you will have to pay for the repairs yourself. This is only if you are responsible for the accident. If you’re not, then the guilty party will pay for it. But your luck has run out if the guilty party manages to run off. 

Extended Coverage 

These are of two types, with or without deductibles.

  • Collision damage waiver: this is in the insurance with a deductible. This is usually included in the rent of a car. In This situation, if you are in an accident, you will have to pay everything less than the deductible. All of the rest is the responsibility of the insurance company. This insurance does not cover accidents where it is the renter’s fault. It also excludes damages to the glove compartment, wheels, and glass. 
  • Super collision damage waiver: this is the same as a collision damage waiver, but the deductible is low and can go as low as zero. This will cost you more, though.
  • Full damage waiver: this is insurance without a deductible. In case of an accident, the renter will not have to pay anything if all the agreement terms are met. Damage to wheels, glass, and passenger compartments, on dirt roads or traveling by ferries is not included. Anything unclear to you should be put forward before the insurance company before you sign the agreement. 

How To Decide What Type Of Insurance To Get? 

The answer to this question is different for everyone. It depends on your car and how much you have to spend on insurance. If you’re struggling, then basic insurance might suit you at the moment. You can upgrade whenever you can afford to do so. 

How Much Does Car Insurance Cost In Greece? 

A rough estimate says that car insurance can cost you up to $2456 annually, which is $205 per month. However, these figures vary according to the car type and insurance package you opt for. 

Factors That Have An Impact On The Price Of Car Insurance In Greece

  1. The type of car you want to insure. (what fuel it uses, history of accidents, etc.)
  2. Your driving record
  3. Driving experience
  4. Your age
  5. How many drivers are you insuring
  6. The use of a car – private or business
  7. An estimate of the distance you will travel over the year
  8. Your postal code
  9. Where will you park your car overnight

How To Pay Less For Car Insurance In Greece? 

Here are a few tips to help you save money on insurance

Choose A Deductible 

The higher your deductible is, the lower your annual insurance cost. As damages to cars tend to be more pricey, choose the deductible cost wisely. 

Estimate Your Annual Mileage Realistically. 

The idea is that the more you drive, the higher your chances of getting into an accident. So write down a realistic number of miles on the form, as your insurance cost will highly depend on that. 

You have nothing to worry about if you are uncertain about how much you will travel within the year. Drive for six months or so, and if your estimate does not match it, you can contact your insurance company. 

Choose Annual Pay 

You will end up paying less if you choose the yearly payment plan. Monthly or quarterly makes you pay more in the long run. 

Stay Accident-Free 

You will get a no-claim bonus every year you stay accident-free, and your insurance isn’t used up. On the other hand, if you cause an accident and the insurance company has to pay for it, your premium will increase the following year. The bonus you get is based on your premium and no-claim class. 

Transfer Your Current Driving Record 

Depending on your current driving record, many Greek companies might just accept it as it is. If you have a clean, accident-free record, this will significantly reduce your insurance cost. To get your hands on it, you will just have to ask your previous company to give you a statement of good driving record which you can show to the following insurance company. 

Deduct It From Your Taxes 

You can deduct part of your insurance from your taxes if you’re working. Self-employed people can deduct the amount themselves when filing their taxes. This is only if you own the car and its insurance. 

Compared To Cheaper Insurance Every Year. 

Every year, you should compare your policy with others available on the market. A lot of companies automatically cut insurance on the first of January. One month’s notice period is given to you, so you better change your mind before the year ends. Usually, in November, you will find lots of deals popping up here and there. 

Which Is The Best Car Insurance In Greece? 

Greece has hundreds of insurance companies that you can approach for car insurance. It is tough to pinpoint one out of all of these companies available on the market. There are too many factors to consider in this situation. You can find a comparison tool to help you find the best option. 

Once you have selected what insurance company you want to go for, you can apply online, which will make the whole process much smoother. 

Other Important Factors Regarding Car Insurance And Driving In Greece

Can You Drive In Greece With Your Foreign Driver’s License? 

 Depending on the relations between your home country and Greece, you might be able to use your driver’s license. This also depends on how long you plan to stay here. If you have an EU license, you will be able to use it quickly, but if you’re not from the EU, you might have to do something else. 

What To Do In Case Of An Accident? 

It is usually advised not to move the cars unless you are blocking the traffic. You can call the police, although that’s not necessary. 

If another person or car is involved in the accident, you must fill in a form with your insurance documents. This required your details and car plate along with the other parties. You will have to take account of any witnesses and pictures of the vehicle and road. 

File a report with your insurance company once you get home. You should not delay this, and the inspector might also take time to get to you. 


We have broken down all the aspects of insurance companies that you will require, and hopefully, this will be helpful for you as well. It is required by law to have insurance, so it is better to just go for a simple plan if you do not want to spend much money. Compare different insurance providers so that you get an idea of what the best option is for you.