The cheapest insurer does not exist

No insurer is the cheapest for every driver. Each company sets its own prices and draws its own lines for age and experience. Why it happens, and what it means for how you search.

Author

Editorial Desk

Published

9 September 2026

Updated

13 October 2026

Reading time

4 minutes

At a glance

Which insurance company is the cheapest in Greece?

No insurance company in Greece is the cheapest for every driver. Each one sets its own premiums and terms, with no prior approval from any authority, and draws its own lines for age, licence and record. Only an offer made on your own details shows what you would pay.

No insurer is the cheapest for every driver. Each company sets its own premiums and terms, and no authority approves them in advance¹.
The companies say in their terms what they price on. Hellas Direct names the age of the drivers, the engine size and age of the vehicle, the programme and the duration².
The lines for young drivers fall in different places: under 25 at Hellas Direct², under 23 or a licence under one year at Allianz and Interamerican³ ⁴.
There is one public reference point: the market average of compulsory cover, about €147 a year before taxes⁵.
An advert that says “from” shows the lowest price a company charges. Ask whose price it is before you compare it with yours.

The question we hear most often is “which is the cheapest insurer”. It has no answer, and the reason it has none is the most useful thing this site knows.

Every company draws its own lines

Every insurer sets its own rates. Greek law asks for no approval of policy terms or premiums before sale¹. So each firm chooses what it prices on, and how much weight each fact carries.

The terms show part of it. Hellas Direct writes that its premiums follow objective criteria: the characteristics of the drivers, such as age, the characteristics of the vehicle, such as engine size and years on the road, the insurance programme and the duration of the policy. It also keeps the right to change the premium and the criteria at renewal².

What these documents leave out is the size of each weight. No insurer publishes it. One may charge a novice far above average and a fifty-year-old far below. A rival may keep both closer together. From outside, nobody can tell which approach a firm follows.

Where the lines fall

The lines for young drivers are a good example, because they are written in public documents.

Hellas Direct asks you to declare anyone under 25 who drives the car, and does not insure drivers under 18. It keeps the right to charge more for a driver under 25. If such a driver was not declared and causes a liability claim, it can ask you for a penalty of 30% of what it pays the third party².
Allianz limits own-damage cover to 50% of the damage when the driver is under 23, or has held a licence for less than a year, and was not declared³.
Interamerican excludes damage from its optional covers when the driver is under 23 or has held a licence for less than a year, unless that cover was agreed with an extra premium⁴.

Three insurers, three different lines. A motorist aged 24 falls under the young-driver rule of one and outside the rules of the other two. Multiply that by every fact behind a quote, and the order shifts from one customer to the next.

Nothing here is an anomaly. Competition works this way: each insurer picks the customers it wants, and its wording and pricing show that choice.

The one public reference point

There is no public price for each company and each driver. There is a public average for the market. In 2024 the motor market wrote €1.23 billion in premiums⁶. From the claims of passenger cars, the market average of compulsory cover comes to about €147 a year before taxes. Add the 15% premium tax⁷, the 1.8% levy for the Auxiliary Fund⁸ and the claims of your zone, and it is about €118 on the islands and about €237 in Attica⁵.

The average is the same for every driver, because age and record have no public number⁵. It does not tell you which company is cheapest for you. It tells you whether an offer is near the market or far from it.

What to do with this

Do not ask your friend. The company that suited them priced them.
Do not rely on an advert with “from”. The “from” is the lowest price the company charges, for the customer it prices lowest. If that customer is not you, the number is not about you.
Read where each company draws its lines. If you are 24, or your licence is new, the terms tell you more than the advert.
Ask for offers on your own details. Only an offer made on your own details shows what you would pay. Put it next to the market average of your zone.

On the comparison page you will find the market average for your zone, and the companies in name order, each with the prices it publishes.

See the market average for your area

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