Building Insurance
Most lenders in Cyprus require building insurance to protect against damage caused by fire, storms, or other hazards. It covers the structure of your home, ensuring you can repair or rebuild if necessary.
Contents Insurance
This protects your personal belongings inside the property, such as furniture, electronics, and valuables. It’s optional but highly recommended for comprehensive coverage.
Mortgage Protection Insurance
This insurance helps cover your mortgage payments if you face unforeseen circumstances like illness, unemployment, or death. Some banks in Cyprus offer or require this as part of the mortgage agreement.
Additional Tips
Shop around for policies that suit your needs and compare premiums. Ensure you understand what is covered and any exclusions to avoid surprises later.