CreditWest - Time Out Insurance

[PoshinDevon]

I see in this weeks Cyprus Today that CreditWest bank are offering a new car insurance policy called "time out" .

It appears to be aimed at those who are not in North Cyprus all the time and come and go (Swallows?), whereby the poloicy can be stopped and started accordingly. It certainly is something new, not sure how it will work as presume that if a vehicle is left parked up whilst out of the TRNC some insurance against fire, theft etc would still be required. Also not sure if it is only applicable to fully comprehensive policies or includes third party.

An interesting move and one that may be worth investigating and posting findings on the forum. I shall certainly make enquiries when our insurance is due later this year. Wonder if they provide or have any plans to extend this concept into other insurance areas such as medical.

[Philoz]

Posh-A few companies here do car insurance with a twist.
For example ,Turk bank offer a policy whereby you can choose your level of fully comp cover,and pay lower premiums-suited for someone with an older car.
The 3rd party basic cover is state regulated and the same cost wherever you go as far as I can work out and costs about TL275.
The fully comp bit is priced in either sterling or euros in my experience,but covers you in the south-you still need to buy your 3rd party cover at the border.
You also need to check the small print on your fully comp bit-Mine had a maximum claim of something like EU25000,when I queried it I was told it was the maximum they are allowed to give you.
Given the cost some of the flash BMWs and Mercs you see here,it certainly wouldn't cover the cost of a total write off-and if the accident was your fault(which I think it would be!)you may find you have to cover the shortfall yourself in the event of a claim against you.

[PoshinDevon]

Philoz,

Thanks for info. Our current car insurance is fully comp with cover for the south as you describe.

As we are not here permanently but for 6 - 8 mths at a time, we will certainly investigate this new CreditWest option and see how it will work or not as the case maybe. Will also investigate other banks/companies so thanks for info re TurkBank. We have also been told that some companies/agents offer a recovery service covering both north and south within there policy cover, so another area to look into.

Thanks again