Valid as of 28.02.2021
The Terms and Conditions of LHV Device Insurance and Extended Warranty Insurance describe insurance coverage for accidents befalling device and extended warranty protection for device, action to be taken in the event of a loss and the principles of indemnification.
Device insurance covers various devices on all-risk basis in the event of damage caused by unexpected and unforeseen events. Extended warranty insurance provides insurance cover in case a manufacturing defect becomes evident in the insured object. A manufacturing defect is an internal fault of the insured object, which is considered a manufacturing defect under the terms of the manufacturer's warranty and which becomes evident during the insurance period due to the normal use of the object. Protection covers device when used by either the owner or other users.
The material parts of the insurance contract are the insurance policy (hereinafter policy), certificate and these Terms and Conditions of LHV Device Insurance and Extended Warranty Insurance (hereinafter Terms and Conditions). The sum insured for the insured objects (limit of indemnity) and the amount of deductible (the excess; the amount that will be borne by the policyholder in the event of an insured event) are indicated in the policy. Before concluding the insurance contract, the policyholder must make sure that the information specified in the policy is correct and that the scope of insurance cover is appropriate, and read through the Terms and Conditions.
The insurer is LHV Kindlustus (hereinafter LHV).
The policyholder is the person specified in the policy. Persons equated with the policyholder are insured person and all persons lawfully in possession or use of the insured object (hereinafter policyholder).
Contact details for the insurer
Mon–Fri 9 am–5 pm
Mon–Fri 9 am–5 pm
Loss event is an unexpected event that causes patrimonial damage.
Insured event is an event provided for in the Terms and Conditions, in the event of which LHV must perform its performance obligation arising from the contract.
Insurance period is a period specified in the policy, damage caused during which as a result of an insured event is indemnified.
Sum insured is value of the insured object or the largest amount of money to be indemnified in case of an insured event. The sum insured is not reduced by the paid indemnity.
Insurable value is the amount required to acquire an identical item (the same product or equivalent product in terms of its characteristics).
The insured object is specified in the policy.
Movables are durable goods that are purchased as new from a store.
LHV has the right to deny or reduce the indemnity if:
- the policyholder caused the damage intentionally and/or while intoxicated;
- the policyholder has intentionally submitted false or misleading information to LHV or failed to submit significant information concerning the important circumstances of the insurance contract or loss event;
- the event is one where resulting damage is not compensated on the basis of the Terms and Conditions;
- damage occurred to objects that are not insured under the Terms and Conditions;
- the policyholder has not paid the insurance premium by the prescribed term or additional term and the insured event occurs after the expiry of the additional term, unless the failure to make the payment was due to a circumstance beyond the control of the policyholder;
- the policyholder has not complied with one or more of the safety requirements specified in clause 9 of the Terms and Conditions or the obligation specified in clause 11 and said non-compliance has a causal link with the occurrence of the damage.
The insurance contract shall expire:
- at the end of the insurance period;
- upon cancellation of the insurance contract;
- upon withdrawal from the insurance contract;
- upon replacement of a destroyed insured object;
- by agreement between the policyholder and LHV;
- on other grounds provided for by legal acts.
LHV has the right to cancel the insurance contract in accordance with the cancellation periods prescribed by legislation, if:
- the policyholder has not performed the insurance contract, among other things, not paying the insurance premium by the deadline or additional deadline;
- the policyholder has intentionally submitted false information to LHV regarding the circumstances of the insurance contract and / or the insured event;
- an insured event has occurred and LHV has made a decision on indemnification or refusal to indemnify the damage;
- the insurance risk has increased (including if the insurance risk has increased independently of the policyholder and the policyholder does not agree to amend the insurance contract retroactively from the increase of the insurance risk);
- the insured object has been transferred;
- other grounds for cancellation of the insurance contract provided by legislation become apparent.
LHV has the right to withdraw from the insurance contract if the policyholder has failed to notify LHV of significant circumstances affecting the insurance risk when concluding the insurance contract and / or has knowingly submitted false information (including deliberately avoiding reporting an important circumstance). LHV may withdraw from the insurance contract within one month after it became aware or should have become aware of the policyholder's failure to perform the notification obligation.
If the insurance contract is entered into through telecommunications, the policyholder has the right to withdraw from the insurance contract within 14 days as of the conclusion of the insurance contract. The policyholder must submit a written application to LHV regarding the withdrawal in a form that can be reproduced in writing. Upon withdrawal, LHV returns the paid insurance premium. If LHV has provided the policyholder with immediate insurance cover, the policyholder has no right of withdrawal.
If the policyholder has not paid the first insurance premium within 14 days after concluding the insurance contract, LHV may withdraw from the insurance contract until the payment is made. If the paid insurance premium (including an instalment thereof) is less than the amount payable specified in the policy, the insurance premium shall be deemed not to have been paid. LHV shall be presumed to have withdrawn from the insurance contract if it does not file an action for the collection of the insurance premium within three months as of the premium becoming collectible.
If the insurance contract is entered into for more than one year, the policyholder has the right to withdraw from the insurance contract within 14 days as of the conclusion of the insurance contract. The policyholder must submit a written application to LHV regarding the withdrawal in a form that can be reproduced in writing. Upon withdrawal, LHV returns the paid insurance premium. If LHV has provided the policyholder with immediate insurance cover, the policyholder has no right of withdrawal.
If the insurance contract has been cancelled or a party has withdrawn from it, the parties to the insurance contract shall no longer be bound by the obligations arising from the contract as of the termination of the insurance contract. The rights and obligations of the parties, including the policyholder's obligation to pay insurance premiums to LHV, remain valid until the termination of the insurance contract.
If the sum insured specified in the policy is less than the insurable value at the time of the insured event, LHV is liable for the loss in proportion to the ratio of the sum insured to the insurable value at the time of the insured event (underinsurance).
If the sum insured specified in the policy significantly exceeds the insurable value, LHV will indemnify the actual amount of loss (overinsurance).
If the policyholder insures the same insurance risk through several insurers and the total amount of insurance indemnities paid by the insurers exceeds the amount of the loss or the total of the sums insured exceeds the insurable value, the insurers shall be jointly liable (multiple insurance).
LHV is entitled to process personal data related to the insurance contract on the basis of LHV's Principles of Processing Client Data and to disclose information related to the insurance contract to a third party whose right to receive information arises from LHV's Principles of Processing Client Data.
If there are any inconsistencies in the documents of the insurance contract, the interpretation shall be based on the presumption that the special terms and conditions of the insurance contract specified in the policy take precedence over the general terms and conditions.
If the Terms and Conditions have been translated into a foreign language, their interpretation shall, in case of a dispute, always be guided by the Estonian-language terms and conditions.