Filenews 6 August 2025 - by Vasos Vassiliou
It is estimated that the claims submitted so far by the owners of houses to insurance companies regarding the devastating fire in mountainous Limassol amount to around €20 million. The amount of claims is expected to increase, in the sense that relevant requests will be submitted in the next 3-4 weeks. At least this was shown by the practice followed in the previous fire and this is due either to the absence of the owners or to other reasons.
As the General Director of the Association of Cyprus Insurance Companies (SAEK), Mr. Andreas Athanasiades, told Filenews, based on the data until yesterday, it is estimated that eventually about 150 claims for compensation will be submitted, which will be examined on the basis of the terms of each contract.
Most of the compensation is expected to be paid not necessarily by large insurance companies, but mainly by those insurance companies that had customers in Suzi Zanadzia and other areas where the values are much higher than in other communities in which houses have been destroyed.
According to information, only in one case, a house which, according to the picture it presents, has been destroyed at a rate of 30%, has damages that the owner estimates at hundreds of thousands of euros. Moreover, at first glance, it seems that the value of some of the houses that have been destroyed exceeds €1 million, while other houses are worth a few hundred euros. And of course there are also houses of much lower value.
The general director of the Cyprus Association of Insurance Companies, when asked to comment on whether several of the large houses that have been destroyed or damaged belong to non-Cypriots, said that in the area of the fire there were indeed houses of relatively high value that belong to foreigners.
Regarding the percentage of the cost of damage to homes that will be covered by insurance companies, Mr. Athanasiadis mentioned the following:
If the value of a house amounted to €200,000 when it was built but the owner for his own reasons insured it for €100,000, the compensation will not be given on the basis of €200,000 but on the €100,000 for which it was insured.
Something owners should be concerned about is whether they have complied with the terms of the insurance document. For example, if the owner had to clean the perimeter of his house from grasses, plants, etc., and did not do so, it will be taken into account.
As the Minister of the Interior had mentioned, citing a census conducted by the Limassol District Administration, a total of 440 houses were damaged, of which 211 were completely destroyed. In addition, 81 warehouses, 19 commercial premises and 101 vehicles were destroyed.
Mr. Ioannou had clarified that for houses that have been completely destroyed and are licensed, the payment of the money will be made in three instalments, i.e. 25% with the submission of an application, 25% with the provision of a designer (Architect/Civil Engineer), and 50% upon the completion of 50% of the construction works.
For unlicensed residences located outside the Residential Zone and unable to secure the necessary permits, financial assistance equal to 25% of the estimated damage will be granted.
