I have a loan. Do I have to get insured with the company that my bank recommends?

Who said that?! You have the right to get insured with any company you want. According to circular 462 of the Bank of Greece (2013), the borrower has the right to use the insurance company of his/her choice and banks must accept any home insurance policy that includes the covers required by the loan agreement.

If you have a loan you must make sure that the sum assured is at least as much as the remaining amount of your loan.