Property insurance prices in Tbilisi
New Vision Insurance publishes the lowest prices, at 10 GEL a month for a 10,000 GEL renovation and furniture limit, 15 GEL for 20,000 GEL and 20 GEL for 60,000 GEL. Its neighbour liability add-on costs 3 GEL a month for a 5,000 GEL limit, rising to 13 GEL a month for 30,000 GEL. TBC Insurance’s apartment cover starts at 12 GEL a month and IRAO’s home insurance at 30 GEL a month. GPI Holding’s My Home starts from 30 GEL, and the final premium depends on the limit you set and the home.
Aldagi, Unison, Euroins Georgia, Autograph Insurance, Green Insurance Georgia and Wizer print no price on their property pages. Keep the cadastral code and the floor area to hand when you ask for a quote, since IRAO takes the cadastral code for an apartment policy and TBC Insurance limits renovation claims per square metre. Aldagi sells a one-year contract that you can pay in full, quarterly or every six months.
What to check before you sign a home policy
- How the payout is set. GPI Holding’s My Home pays up to a fixed limit agreed at purchase, so nobody reassesses the restoration or market value after a loss. Aldagi’s Complete Home Insurance has no maximum limit and pays full market value when a house is destroyed. TBC Insurance caps renovation damage at 300 GEL per square metre and furniture and appliances at 20,000 GEL.
- Whether the home qualifies. Aldagi will not insure an apartment with emergency status, a private house not used for residential purposes, or a house while repair work is still going on.
- What is excluded. TBC Insurance’s apartment cover leaves out construction defects found during the policy, damage by pets or birds, and wear, corrosion or damp. Its house policy also excludes damage while the house is left unattended for more than 30 days in a row.
- When cover starts. New Vision Insurance activates a policy within 24 hours of payment, and a 3-day waiting period follows. Ask any other insurer on your shortlist for its own start date and waiting period.
Types of property insurer in Tbilisi
New Vision Insurance and TBC Insurance sell flat cover at a price you can see and buy online, and Unison also sells its property policy online. GPI Holding, Aldagi, IRAO, Autograph Insurance and Green Insurance Georgia insure both apartments and private houses, and Unison pays for damage a tenant does to a flat you let out. GPI Holding and IRAO both belong to Vienna Insurance Group.
For offices and warehouses, Wizer’s property policy is written for businesses and covers stored goods, equipment and machinery. Aldagi has a Business Property policy for micro and small businesses with business interruption cover as an add-on, Unison insures stock and machinery with cover for lost profit, and Euroins Georgia insures commercial premises alongside homes.
