By ‘building’ we mean the construction and its facilities, but only those which lose their value if they are separated from the building (central heating, doors, windows, fitted carpeting, hydraulic/electrical installations, built-in wardrobes, false ceilings, wallpaper).

In the case of an apartment in a block of apartments, common and communal spaces and building facilities are included (e.g. boiler rooms, lifts, etc.) The amount corresponding to the portion attributable to the owner of the insured apartment is calculated for compensation purposes.

The following are also included: garage, storage rooms, fencing, yard fencing, swimming pools, underground tanks, objects built into the exterior of the building (e.g. antennae, canopies, solar panels) and, more generally, permanent and legal attachments and home appliances.

Furniture, utensils, electrical appliances, clothes… In other words, all moveable items of equipment for domestic use which are found in the residence’s covered area, in common and communal spaces and in store rooms belonging to the building.

Contents also includes personal objects belonging to the owner, his/her family and domestic staff as well as to fixed objects which are attached to the building and can be removed and installed elsewhere without a decrease in their value. (e.g. air-conditioning units, spotlights, lamps, built-in electrical appliances etc.).

Valuable objects are excluded from the category of ‘contents’.

The following are considered to be valuable objects: items made of porcelain, glass, gold, silver or other precious metals, works of art, sculptures, musical instruments, scientific tools, fur, stamp collections, metal or coin collections, precious stones, pearls, jewelry, pictures, iconography, watches, guns, heirlooms, collector’s items, objects of historical or sentimental value, manuscripts, rare books, objects of subjective or other special value.

Soon we will announce a new program for the cover of objects of value. Keep that in mind!

Garages, store rooms, fencing, yard fencing, swimming pools and, more generally, permanent and legal attachments and home appliances.

We will cover the replacement value of the building. Meaning? We will cover the cost of rebuilding an identical building at the exact same location.

Replacement value is affected by the material used for the construction of the building. For a home in Cyprus, the average value is €1,000 per square meter.

Replacement value may differ from market value.

For contents, we will pay the cost of replacing each item separately with a new item of the same quality and usage up to the limit stated in the Terms & Conditions of Insurance.