How much is tree service insurance


How much does it cost to insure a tree service? The real costs!

The Average Cost of Tree Service Insurance

You must have searched how much it costs to insure a tree service? Did you do a Google search, if so we have the answers? Are you a new tree service company just starting out and want these answers? One thing is for certain, tree care companies do highly dangerous work maintaining various trees, in and out of dangerous situations on a daily basis. This type of business 1000% needs to be protected and cover not just themselves but their employees, equipment, vehicles, etc. From being high up in trees to working with chainsaws risks are at every turn. They prune large branches, cut trees back from power lines and even remove large trees that might be dead or damaged. You need adequate tree service insurance that covers many different aspects of your business. We’ll go over what most professional tree service companies have below. 

How much is General Liability Insurance for a tree service?

General liability insurance is needed if you run a professional tree service company. This kind of insurance will insure the company if a mistake is made or something is damaged, this type of insurance will cover it. General liability insurance will also cover injuries to workers and other bystanders that could get hurt by the company as well.  Most tree service companies will insure themselves for between $500,000 to $2 million dollars seems to be normal. Depending on the size of the company and type of work you do, some can have up to $10 million in coverage.. For that amount of coverage, the average costs nationwide are between $3,000 and $6,000 a year but could be up to $10,000 per year.

How much does Accident Insurance cost a tree service?

Accident insurance is a more specific type of insurance, different than general liability. It protects your personal property so this will cover any property damage done to your home or vehicle caused by the tree service company. This type of insurance usually will have coverage of at least $500,000 to $1 million dollars. This is most cases is enough to cover the cost of any minor or major home repairs if something were to happen. This insurance is additional coverage which is safe when and if general liability didn't cover everything. The average cost to tree service companies for accident insurance which this much coverage is ranging from $3,000 and $6,000 per year.

How much does Commercial Auto Insurance cost a tree service?

If you run a professional tree service company and have multiple crews going every day, that means you provide transportation for the crews, bucket trucks, chipper trucks, any vehicle that your company has on the road should be covered under commercial auto insurance. The tree care company needs to have its commercial vehicle insured so you don’t have to come out of pocket if a branch falls on one of their trucks while they're working or on the road involved in an accident. The amount of commercial auto insurance most tree service companies have is between $50,000 to $200,000 which tends to be sufficient to cover any damages done by company vehicles to property or others on the road. The average cost of commercial auto insurance is between $2,000 and $5,000 per year. 

How much does Workers Compensation Insurance cost a tree service?

Even if a tree service company has general liability insurance if the company doesn’t have worker’s compensation, as the owner of a tree service company you could be sued by one of your workers if they are insured or hurt while working. Homeowners should check to make sure companies have worker's compensation because if a tree worker is injured on a homeowner's property the homeowner could have to pay for a worker hurt on their property. Good tree service companies will keep worker's compensation insurance of up to at least $1 million for worker’s compensation. The average cost for workers compensation insurance and in this amount of coverage is about $5,000 to $7,000 per year.

How much is Homeowners Insurance?

This type of insurance is not held by the tree service company, homeowners are responsible for their own home. As a tree service company, it wouldn't hurt to ask the homeowner if their homeowner's insurance is up to date. In the event of tree removal, if you feel there is a risk a tree might fall on their home demolishing it, it's always safe when the homeowner has enough coverage to cover the cost of their home if a disaster were to happen. Be sure there is a clause for accidents from tree removal that would cover the cost of your home. The average cost of homeowner's insurance across the nationwide is between $700 and $1200 per year.

Will Homeowners Insurance pay for tree removal?

Tree services get the question often, will my homeowner's insurance pay for tree removal? The answer is It depends on the conditions. The majority of the time home insurance will not cover the cost of removing a tree that has not fallen. Homeowners are responsible for the maintenance of their home and property, so a standing sturdy tree will not be covered by homeowners insurance, tree trimming and maintenance is on the homeowners.  Even if a tree is dying or dead its still the homeowner's responsibility to service the tree. A great question to ask as a tree service company if this question comes up is, “ Is your tree still standing?”

Now if a tree fell due to a storm, high winds, and damaged the house, home insurance will generally cover it and would pay for repairs to fix the damage caused by the tree in addition to the cost to remove the tree from the property. What if the tree fell in the backyard without damaging any structures? Then, as a homeowner, you would have to come out of pocket for that. A good rule of thumb is the tree falling would have to cause damage to your home if you have a shed covered under home insurance it could cover your shed or exterior garage as well. Home insurance generally does not cover the removal of the tree unless it falls on a fence, garage or home and causes damage.

In some cases, home insurance will pay for removing a tree if it falls in or blocks your driveway. It’s recommended to give your homeowner's insurance policy a good lookover now if you are a homeowner to check your coverage or call your insurance agent for details. Most homeowner's insurance coverage will cover tree removal up to $1,000 per storm, which still can lead to out of pocket costs when it comes to removing a tree that has fallen due to a storm. 

Simply put, using a licensed, bonded and insured tree service provider is very important that it is the law in most states. It makes sense to have these extra measures of protection when it comes to something as potentially dangerous as tree trimming, tree removal, and other tree services. As a tree service company you should take pride in being licensed, bonded, and insured, brag about that on your website on your marketing materials, let people know you are running a professional company as often as possible. 

What “Licensed, Bonded and Insured” Means for Tree Service Companies

Some states require professionals that work in or outside of people's homes to obtain and keep a current license before they can perform certain services. Tree services are not exempt from this, earning a license to provide tree services in your state is evidence that the business has met minimum service requirements. Check your state regulations!

Being bonded as a tree service company means that you have a surety bond that protects you and the customer, in case you need to file a claim against the company. If your claim is decided upon to be valid and there is a judgment awarded but the company is unable to pay then the money would come from the surety bond as a result. 

Tree service companies that are insured protect themselves and their customers against financial damages in the event of an incident, accident, or property damage that arises during the time they are in business. It’s becoming a known fact that there is a bunch of pop up tree services that are underbidding and cheating the industry, legit tree service companies to compete on pricing when non-legit companies that don't have insurance provide cheap service. It puts homeowners at risk, without this type of insurance, an accident occurring on a homeowner's property could place potential liability on them. As a homeowner, it's vital to use a tree service that maintains worker's compensation insurance, so you are not held responsible if one of the workers gets hurt on the job while working on your property.

 

The Potential for Accidents and Damage For Tree Service Companies

This is why as a tree service company it's so important to be a licensed, bonded and insured tree service provider. It would not be so essential if the service itself weren’t so dangerous. Let’s face it, it can be very dangerous every single day working with heavy equipment, bucket trucks, climbing equipment, chainsaws, at the same time being so high up in trees. Certified Arborists are trained in their field on equipment, safety precautions, etc. so they know and continue education on these things, but accidents can and do happen. Being licensed, bonded and insured helps protect you the business owner and protects the homeowners as they get tree service. 

 

Is Your Tree Service Licensed, Bonded and Insured?

You came here asking the question, how much does it cost to insure a tree service? The answer is it could get expensive and costly to run a professional tree service company. When you add everything up depending on the size of your company it could be $5000-$20,000 per year just to cover your company's different insurance policies. As a homeowner, we strongly recommend verifying that the company you choose to hire is a licensed, bonded and insured. Arborists Near Me makes it easy, on each tree service companies profile you can see if they are licensed and insured. As a precaution, ask! Then you can take it a step further to see proof. In particular, it is important to note effective dates to make sure licensing, bonding and insurance have not lapsed some owners are busy and might not know their coverage expired a week ago. At Arborists Near Me, we help hundreds of homeowners connect with credible tree service companies, people report saving up to $500 on tree care due to getting multiple quotes. If you are a company and need more customers register, create a listing at www.arboristsnearme.com/join or if you are a homeowner and need service feel free to search our site and call a local company directly, see their profile, read reviews, and make a decision on who is best for you.  

How much does it cost to insure a tree service how much does tree service insurance cost

Requirements, Coverage & Quotes From $8

Tree Service Business Insurance


Tree service business insurance pertains to a broad range of tailored insurance products for arborists, tree cutters, tree surgeons, and more. 

Small business insurance for tree service is very important. It can cover the cost of lawsuits and compensate clients. Furthermore, it can pay for the cost of workplace injuries and equipment repairs . 

Liability insurance policy for tree service provides the first line of defense. Let’s discuss what this is in the next section. 

Also read:

  • Gardening Business Insurance: Cost, Companies & Quotes From $15/month

Tree Service Liability Insurance

Tree service liability insurance usually pertains to general liability insurance for tree service workers.  

General liability insurance for tree service takes care of costs in case you caused property damage or bodily injuries to third parties.  

So how much money can you get from general liability insurance for tree work? Usually, the policy provides a $1 million limit, which the policyholder can use to pay legal fees and settlement to the aggrieved client. 

Workers Compensation Insurance for Tree Service

Tree service workers sometimes get injured while working. The most common injury, by the way, are cuts and scrapes. Cuts and scrapes can result in temporary impairment. In connection with this, latest data show that the average workers compensation for cuts and scrapes is $23,768. 

Workers comp for tree service functions to cover the cost of employee compensation. This policy can cover the employees:

  • Medical bills

  • Rehabilitation

  • Medical equipment

Furthermore, in case you can’t go to work for an indefinite period of time, workers comp can also supplement lost income. Depending on the state, tree service workers compensation insurance can provide money equal to 66. 67% or 80% of your average weekly payroll. 

Tree Service Insurance Requirements

The United States doesn’t have laws that demand what kind of tree service business insurance should be purchased before one can work with clients. 

Nonetheless, it should be noted that most clients demand that there must be a $1 million general liability insurance to cover them. 

Another thing to note is that aside from general liability, some clients might also require a surety bond. Commonly, tree services need to get $100,000 in surety bond to satisfy the terms of a contract. 

Furthermore, in case there are one or more employees, workers comp insurance is also required. Ask the local workers compensation office in your location to know when you should get workers comp. 

Arborist Insurance

Arborist business insurance is a tailored coverage for arborists. It offers liability insurance, commercial property insurance, and commercial auto insurance.  

Arborists have liability whenever they cause injuries or property damage. Because of this, their business insurance comes with arborist liability insurance. Usually, this is offered as a general liability insurance policy. 

Arborist general liability insurance takes care of cuts, lacerations, contusions, concussions, and other kinds of bodily injuries to the client. In addition, it also covers costs if the client’s property got damaged. 

Arborist insurance is very important. Without it, arborists might find themselves in debt or lose a significant amount of savings in their bank. Physical injury claims settlement starts at $10,000. However, if the injuries are severe, settlement can easily scale up to more than $1 million. 

Property damage isn’t different. Those who file property damage claims require huge sums of settlement even for minor damages. Broken windows or roofings might require a settlement of $50,000.

Arborist Professional Indemnity Insurance

Clients have the right to sue arborists for unsatisfactory work, property damage or injuries resulting from negligence, and the failure to finish a project on time. And for this reason, carriers offer professional indemnity insurance for arborists as protection.

Arborist professional indemnity insurance will pay for the lawsuit and the amount of money the client wants as compensation for all economic and financial loss incurred. In practice, the most common scenarios where professional indemnity provides coverage are:

  • When arborists misdiagnosed the  tree’s health

  • Aggravating a tree’s health instead of improving it

  • Failure to finish the project on the deadline the client imposed,  as stated in the contract

  • Causing property damage or injuries by failing to follow or implement precautions the OSHA and other safety government agencies mandate

Professional indemnity lawsuits against arborists are costly as they involve numerous charges imposing different penalties (criminal, civil, etc.) The overall costs can reach up to more than  $100,000 depending on the severity of the incident and its results. With that said, paying for such an amount can be very problematic without insurance ready and waiting. 

Tree Removal Insurance Coverage

Tree removal insurance is a policy that attends to the needs of people in the tree service industry specializing in the transfer and removal of trees. Tree removal company insurance usually includes the following policies:

  • Professional liability insurance

  • Equipment breakdown coverage

  • General liability insurance

Tree removal general liability insurance starts with a $2 million policy limit and comes with products and completed operations as an additional option. Professional liability, on the other hand, has a $1 million limit. Equipment breakdown covers the cost of repair or replacement cost of the chainsaw and other equipment and has a policy limit of $1 million. 

Having coverage is very important because, without a good tree removal insurance program, a tree removal company might easily lose profits and clients along the way.  

A report analyzing 53 tree felling accidents from 2009 - 2014

  • The tree impacted another tree/object and fell in another direction, injuring someone as a result

  • The tree started falling into the intended direction. However, its top portion swayed, came back, and fell somewhere else

  • Hung up tree (this is a tree, which the operator already cut, but didn’t fall by reason of snagging with another tree/object)

Tree Trimming Insurance

Businesses in the tree service industry that provides trimming services might find tree trimming business insurance helpful. Tree trimming insurance coverage consists of:

  • General liability insurance

  • Professional indemnity insurance

  • Commercial property insurance

General liability insurance for tree trimming service takes care of property damage or personal injury lawsuits. The cost of lawsuits against tree trimmers is $66,000 or even higher depending on the severity of the damage. And so, having coverage is crucial because it provides $1 million basic coverage for attorney fees and other legal costs. 

Tree lopping insurance also includes commercial property insurance that covers tree trimming equipment. Coverage applies when damage or theft happens. In other words, tree trimmer business insurance provides backup funds so that tree trimmers can continue their work even when misfortune comes.

In case the client filed a claim because the tree was trimmed wrongfully and got sick, professional liability policy in tree pruning insurance can help reimburse the client for their losses. If the matter is taken to court, then this will also cover legal fees. 

Insurance for Tree Cutters

Tree cutter insurance is a tailored policy for those involved in logging. The policy offers general liability insurance having a $1 million policy limit, which can be added with products and completed operations coverage. 

There’s also commercial property insurance for tree cutting included that provides reimbursements if  helmets, hand saws, pole saws, chainsaws, and hatchets got damaged or lost because of:

  • Fire

  • Vandalism 

  • Theft

The policyholder can also decide to add workers compensation insurance for tree cutters, which becomes very useful in case of amputations because it gives all the money needed for the operation, medicines, medical equipment, and rehabilitation.  

Stump Grinding Insurance

Insurance for stump grinding includes policies such as general liability insurance, professional liability insurance, and equipment breakdown coverage. In stump grinding insurance, general liability offers a $1 million up to $2 million policy limit. Professional liability, on the other hand, starts with a $500,000 limit.  Finally, equipment breakdown coverage offers a $1 million policy limit and only covers the stump grinder and other related accessories.

Quality medicine and healthcare in Cyprus. How to get health insurance in Cyprus?

Today, when the program of economic citizenship of Cyprus is actively promoted, according to which, for a certain amount of investment, participants are offered to obtain an island passport, wealthy inverters are simultaneously studying all aspects of life on the island, including medicine and insurance.

We have already described the educational system of Cyprus, both in preschool and school institutions, and universities operating on the territory of the state, now we will tell you about all the nuances and subtleties of the healthcare system on the island.

Renewed Cyprus Economic Citizenship Program

Medical care in Cyprus

Public and private medical care in Cyprus is of high quality and accessible to all. Most of the doctors working on the territory of the island were educated at the world's leading medical universities located in the USA, Germany , UK and Israel. Also, Cypriot doctors are fluent in English, some can excel in Russian, so there are practically no language barriers in the provision of medical care in Cyprus for foreigners and expats.

Cypriot Public Medical Services for Tourists and Locals

The Cypriot Public Medical Sector is currently supervised by the Ministry of Health, which is responsible for all operations in terms of public access to medical care, both Cypriots and non-Cypriot residents.

The Ministry is responsible for planning, organizing and managing the health sector, including overseeing the provision of services in all public health facilities. Departments in the field of medicine, such as the diagnostic center, the provision of services in the field of pharmaceuticals, dentistry and the rehabilitation sector, which are responsible not only for inpatient treatment, but also home care, fall under the supervision of the Ministry.

Public health facilities in all European countries, whether you are a resident of the country or not, are required to provide emergency medical care. In this case, Cyprus is no exception, so regardless of whether you have insurance or not, any emergency clinic will accept you and serve you.

How to obtain citizenship when buying property in Cyprus?

Most Cypriot clinics have the latest equipment. The National Health Service of Cyprus devotes a lot of time and money to improve the performance of the island's medical institutions, including their accessibility to all citizens and non-residents of Cyprus.

All city hospitals in Cyprus have the necessary departments, including maternity, therapeutic, surgical, pharmaceutical and radiological. In smaller towns, there is often no maternity ward or an X-ray department, but in any case, consultation with a general practitioner or pediatrician can be obtained even while living in a small Cypriot village.

For consultation and further treatment with a dentist or gynecologist in Cyprus, it is best to contact clinics located in larger cities such as Limassol, Nicosia or Paphos.

Private health care in Cyprus

Private health care in Cyprus is financed by incoming investments and wealthy clients who are treated in private clinics. As well as the public sector of medicine in Cyprus, the private sector is regulated by the Ministry of Health, but government funding is excluded. Private hospitals, clinics, pharmacies, diagnostic centers and independent professionals can obtain a license to practice medicine in Cyprus.

The private sector is just as popular as the public sector due to the lack of long queues.

Business migration to Cyprus: how to obtain citizenship

Medical tourism in Cyprus

Medical tourism in Cyprus is becoming more and more relevant. In general, the development of world medical tourism began in the late 80s, when most insurance companies did not allow their clients to treat chronic diseases at affordable prices in their country of residence. Then people began to look for ways to receive medical care in other countries, where the cost of treatment will not be worth all the accumulated savings.

Cyprus, on the other hand, is just beginning to gain momentum among tourists visiting the country in order to receive high-quality medical treatment, and the inherent potential for the development of medical tourism is steadily growing. Excellent prospects for the development of this area are not unreasonably applicable to Cyprus: a developed medical infrastructure, high requirements for specialists and other indicators of the quality of medical care.

Of course, against the backdrop of such titans of medical tourism as Israel, UAE (https://internationalwealth.info/uncategorised/uae-all/ ) and Slovenia, Cyprus seems like a teenager who only shows the makings of ability, but this small island nation in the Mediterranean can boast of competitive advantages in the field of medical tourism:

  1. Ease of obtaining an insurance policy for foreigners and affordable prices.
  2. Comprehensive service that is not developed in the countries listed above.
  3. Large investments in the medical sector by foreign investors. And this, as a rule, is a fairly significant indicator of the development of modern specialized clinics.
  4. Distribution of Russian and English languages ​​in medical institutions.
  5. The geographical position of Cyprus plays into the hands of the island in two ways: favorable climatic conditions and excellent transport links to the island. Flights to Cyprus depart daily from Moscow.
  6. Highly qualified staff educated in leading countries such as Germany, USA and UK.

The Cyprus Tourism Organization, the Ministry of Finance and the Ministry of Health are actively involved in creating favorable conditions for long-term cooperation not only in the medical industry, but also interact with the organizers of health tours to the island.

Childbirth in Cyprus

Another branch of medical tourism is “mother” tourism. In this case, expectant mothers come to the island 1-2 months before the expected date of birth, and stay on the island for another 2 months after.

During the entire stay, pregnant women enjoy a wonderful tropical climate with minimal temperature fluctuations, eat healthy food, fruits, undergo examination and are under the supervision of a gynecologist-obstetrician before giving birth, and after that they receive pediatrician consultations for 10 days.

It is worth considering that such service to non-residents of the island is available only in private clinics, so you will need to take care of the insurance and register with the gynecologist-obstetrician in advance.

On average, giving birth in Cyprus will cost the expectant mother about 4-5 thousand euros, taking into account food and accommodation on the island for the entire stay. This amount includes the cost of the birth itself, the examination, and the services of a pediatrician. Toddlers are required to have their hearing checked, and this procedure is free.

How to move to Cyprus: all aspects of obtaining permanent residence and citizenship

hospitals in Cyprus

On the island's territory, cards are especially widespread, which allow you to receive various kinds of medical services in public hospitals. Depending on the type (color) of the card, a patient can receive a certain set of medical services in Cyprus exclusively in public clinics.

Today, the public health care sector is being reformed by the authorities, where a bill has been signed to introduce compulsory insurance for all citizens of Cyprus. Deductions will be 1% of wages to the Social Insurance Fund. The bill comes into force on January 1, 2017.

The patient can receive outpatient and inpatient treatment, as well as, if necessary, permission to perform surgical operations, according to medical records, depending on the severity of the treatment.

Cypriot medical cards can be issued for a single person or for all family members and are of two types:

  1. Free Care Medical Card (pink)

This type of card is issued to citizens of Cyprus belonging to the following categories:

  • Foreigners who have received permanent residence in Cyprus and have insurance in their home country. In this case, a non-resident of the island is subject to a bilateral agreement between his country and Cyprus.
  • If your family has many children (from 4 minor children).
  • Low-income pensioners (average pension is less than 500 euros per month).
  • Families where the annual income does not exceed 15,000 euros per person, per family not more than 30,000 euros, including a child, where an additional 1,700 euros is added to the amount.
  • Civil servants.
  • People living on government benefits.

It is also worth noting that free treatment in public hospitals in Cyprus also has a number of exceptions and you may be denied service if the condition of the patient under treatment is a consequence of circumstances when the treatment is covered by a third party (beating, traffic accident, etc.).

How to open a company in Cyprus and how to manage it

  1. Discounted Medical Card (blue)

This type of card provides an opportunity to receive subsidies for treatment in public institutions for families with a low annual income. A patient will receive a blue medical card if the annual income of his family is from 15 to 38 thousand euros with a dependent child.

All types of cards indicate the name of the owner of the medical card, his marital status and if there is a spouse, minor children, this information is entered on the card, the expiration date, serial number, and the identity number of the cardholder.

Foreigners can also apply for a Cypriot medical card. To do this, you must fill out a specific form according to the listed documents, a list of which can be found in any medical institution or on the official website of the Ministry of Health.

Features of health insurance in Cyprus

Consider public and private insurance in Cyprus. State refers to the type of insurance provided by the employer, i.e. it is the enterprise that pays insurance premiums to the Social Insurance Fund, and not the employee himself. The latter, in this case, gets the opportunity for free medical care in all state institutions.

Depending on the income, a Cypriot citizen receives a medical card of the required color and undergoes treatment. Also, both foreigners and EU citizens who have insurance in their home country pass through the free service system.

If you are a non-resident of Cyprus and do not have an EU passport or permanent official employment within the republic, then you need to take out insurance that provides for treatment only in private clinics. Insurance in Cyprus is publicly available and issued by private insurance companies. Here is a list of popular insurance agencies in Cyprus:

  1. Vournaris Group - located in Limassol.
  2. Anytime Insurance - has branches in Nicosia, Limassol, Larnaca and Paphos.
  3. Pintsas Insurances - located in Paphos.
  4. C&E Vassiliou - located in Nicosia.

Insurance policies can be purchased from both island companies and international insurance agencies. As a rule, the latter have a significant advantage in pricing.

Why it is profitable for Russian investors to do business in Cyprus

Types of medical insurance and specifics of medical insurance in Cyprus

There are two types of insurance policies served in Cyprus: these are inpatient and outpatient coverage . Inpatient treatment involves hospitalization of the patient with further treatment, in the case of outpatient treatment, the patient is reimbursed for the funds spent on calling the doctor to the house and the drugs prescribed to them in addition to hospitalization. Those. outpatient treatment includes inpatient treatment.

Insurance also differs in the amount of coverage. The price range is really striking: from a few hundred euros to 2 million. In the first case, the cost includes outpatient and inpatient treatment, in the latter, surgical intervention, treatment of chronic diseases of an advanced stage, cancer and other diseases. With the insurance you have received, you have the opportunity to undergo treatment not only in Cyprus, but also in other EU countries.

Why is the Cypriot economic citizenship program better and more profitable than other EU programs?

How much does health insurance cost in Cyprus?

There are family and individual insurance packages. The first ones are in great demand and they usually come out cheaper. For example, there is a family of 4 people: two adults and two minor children. In this case, comprehensive insurance is issued, which includes outpatient and inpatient treatment in private clinics, and it will cost 2,000 euros / year with a minimum coverage and 3,000 euros / year with a maximum coverage.

It is also worth considering that every year the cost of coverage will increase with the age of its owner.

Medical insurance reimbursement system in Cyprus

This system is structured as follows: . The clinic provides an invoice to the company, which then makes the payment.

  • For outpatient treatment , the patient pays for a doctor's call, drugs in a pharmacy, where the cost of a visit can vary from 50 to 100 euros, depending on the type of examination. This implies that if the doctor examined the patient without resorting to additional equipment, then the cost is lower, but in the case of using instruments and apparatus, the amount increases. After the treatment and the conclusion of the doctor, the patient takes all the necessary checks and documentary evidence of embezzlement and takes them to the insurance company, where he is paid compensation.
  • It is also important to consider that health insurance does not include such areas as cosmetology, dentistry and gynecology services, vision correction. Also, treatment of a chronic disease that a patient had before the insurance policy was issued is not an insured event.

    Insured events include events stipulated by the insurance contract, upon the occurrence of which the company undertakes to pay the client all necessary expenses. Important point : for the first six months from the date of signing the contract, the insurance company will not pay for certain types of diseases, which will also be spelled out in the document.

    How to choose the right health insurance package if you live in Cyprus?

    As practice shows, the choice of an insurance policy greatly affects the budget of its owner. Naturally, most companies will try to give you outpatient care insurance, but do you need it?

    To figure this out, calculate the average number of doctor visits per year, costs per doctor, how much money you spend on medications, and how often you get health screenings, and compare that amount with the difference between inpatient and outpatient coverage.

    For convenience, it is best to choose long-term or lifetime health insurance contracts . Of course, it will cost a little more, but such an agreement has a significant advantage over short-term insurance contracts. In the event of a serious illness, the insurance company undertakes to fully or partially cover your treatment, and it loses the right to exclude this disease from the list or refuse to refund a large amount of funds during the term of the contract.

    And, of course, carefully study the terms of the contract, do not be afraid to ask questions , or even better - hire an interpreter or find a Russian-speaking insurance specialist in Cyprus who will help you better understand the package of insurance coverage you have chosen.

    The main advantages of obtaining a Cypriot passport

    How can a foreigner obtain health insurance in Cyprus?

    Despite the fact that Cyprus is part of the EU, the country does not require its tourists to obtain compulsory insurance when visiting the country. This decision is completely shifted to the shoulders of foreigners who want to relax on a Mediterranean island.

    When visiting Cyprus, do not forget about the possible risks to your health. This is a tropical island that is home to rare species of animals and plants that can harm your health. Therefore, insurance in this case will be to your advantage, because. getting a doctor's consultation or undergoing treatment in one of the Cypriot clinics can cost you a considerable amount.

    On average, emergency treatment for tourists without insurance will cost the patient 100-200 euros, depending on the type of disease. Additional expenses include the visit to the doctor itself, which costs 50 euros per visit.

    There are a number of exceptions related to poisoning by local products, bites from marine and terrestrial animals, and insects. In this case, you will be provided with emergency assistance free of charge.

    In principle, the Cypriot healthcare system differs little from the continental European one, except for some requirements regarding foreigners. By moving to the island of Cyprus for permanent residence, Russian immigrants receive a lot of privileges in terms of service not only in the field of medicine, but also in other areas, including educational and business.

    For more detailed information regarding obtaining a second passport of Cyprus, please contact us by e-mail [email protected]

    What is a CASCO policy

    What is a CASCO policy?

    CASCO is a voluntary insurance for your car that can save you a lot of time and money. The fact is that the compulsory OSAGO insurance policy covers only civil liability - that is, only those cases when you became the culprit of an accident and must compensate for the damage to others. The OSAGO agreement also has a strict compensation limit: the amount of 400,000 rubles in case of damage to a car, 500,000 rubles in case of harm to life and health of people.

    If during an accident, where you are the culprit, your car was damaged and it needs, for example, evacuation, OSAGO will not help in this case. To protect yourself from unnecessary expenses, you can insure your car under CASCO.

    What options are included in the Tinkoff CASCO policy:

    What does the policy protect against?

    From damage not insured under OSAGO. The CASCO policy protects the car, even if its driver violated the rules and turned out to be the culprit of the accident. By connecting additional options, you can extend the CASCO coverage to additional equipment installed in the car, as well as to the health of passengers and even to pets transported in the car.

    From damage not received in an accident. CASCO also applies in case of car theft, theft of wheels, arson or fire, flooding, hail, falling trees and any other objects on the car, as well as in case of damage from animals and illegal actions of third parties. The listed risks are not covered by the OSAGO policy.

    From paperwork. It happens that the person responsible for the accident does not have an OSAGO policy, and in order to receive compensation from him, you have to sue him for a long time. The advantage of CASCO in this case is that the insurance company will immediately compensate you for the damage, and the culprit of the accident will be dealt with without your participation.

    What are the guarantees that in case of damage my car will be properly repaired according to CASCO?

    Tinkoff Insurance cooperates with official dealers of all major car brands, as well as with large independent service stations with extensive experience and a high reputation in the market.

    We monitor the quality of the organization of the car repair process at all stages. In the event of systematic problems, unscrupulous partners are immediately removed from serving our customers.

    Any client of Tinkoff Insurance can leave a claim for the quality of car repairs. To do this, simply write to the support service chat in the Tinkoff application or in your personal account on the tinkoff.ru website. Our operators will try to quickly understand the problem and tell you how to proceed.

    How to understand that the insurance company is reliable?

    It is desirable that the selected insurance company meets the following criteria:

    • is in the top 20 largest insurance companies in Russia;

    • has good customer reviews on banki. ru;

    • has a balanced insurance portfolio, that is, its fees for issuing OSAGO and CASCO policies take up no more than 50% of all fees per year;

    • has its own quality service that really helps clients find the truth when their rights have been violated;

    • The regulatory authorities did not suspend the insurance company's license to carry out insurance activities.

    As for Tinkoff Insurance, in 2021 the RAEX rating agency assigned the company a reliability rating of ruA- "Moderately high reliability level with a high probability of maintaining the rating at the same level in the medium term." This means that the company can now and in the future pay compensation for insured events. And according to the banki.ru portal for 2021, Tinkoff Insurance ranks first among companies with the highest customer rating.

    A convenient online format allows you to calculate the cost and issue a policy in Tinkoff Insurance without visiting the office.

    Find out the cost of CASCO

    Is it necessary to issue a CASCO when buying a car on credit?

    Most often yes. Although CASCO is an additional service that customers buy only at their own request, nevertheless, most banks ask for such a policy when applying for car loans. Banks cannot oblige customers to buy CASCO, but if it is not there, they may simply not approve a car loan.

    This requirement is due to the fact that when applying for a car loan, the purchased car becomes a pledge, which the bank takes as a guarantee that the client will repay the borrowed funds in full and on time. If a person cannot do this, the bank has the right to take the car and sell it to cover their losses.

    On the other hand, CASCO is also beneficial for the client.


    Learn more