The Terms and Conditions of Insurance for Hire-Purchases and Consumer Loans are changing

9. January 2018

As of 11 January 2018, LHV’s insurer for Hire-Purchases and Consumer Loans with insurance cover is changing, and changes to the Terms and Conditions for Insurance Cover will enter into force. The new insurer is ERGO Insurance SE.

Changes to the Terms and Conditions of Insurance:

  • the same Terms and Conditions of Insurance are established for Hire-Purchases and Consumer Loans;
  • insurance cover will enter into force immediately following the conclusion of the contract;
  • the waiting period for unemployment is 30 days as of the date of conclusion of the contract;
  • it has been specified that in the case of unemployment the individual must register as unemployed with the Estonian Unemployment Insurance Fund;
  • the obligations covered by the insurance indemnity have been specified;
  • general exclusions for insured events have been added: invasion, armed conflicts, internal disturbances; revolution, coup, strike, confiscation, attachment and lockout;
  • the beneficiary in the event of a loss event has been more precisely defined.

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