LHV started offering LHV car insurance

17. October 2018

Since the beginning of October, LHV Pank is offering its leasing customers three LHV car insurance products: LHV motor third party liability (MTPL) insurance, LHV Casco insurance and LHV Super Casco insurance. The products have been developed in cooperation with the insurance company Compensa.

According to Erki Link, Head of Leasing at LHV, LHV wishes to offer leasing customers more value. “Property insurance products under the LHV brand, LHV Super Casco insurance and LHV Casco insurance offer remarkable insurance coverage. Good coverage is equally important for our customers who are responsible for maintaining the vehicle, and for the bank, for whom the vehicle is collateral for credit," explained Link. “In addition, LHV MTPL insurance has been included among MTPL insurance products offered to the leasing customers," Link added.

The essence of LHV Super Casco insurance is reflected in its name, i.e. it offers the highest possible insurance coverage. This insurance is targeted to leasing customers who want insurance coverage that allows them to handle their everyday activities without worrying. LHV Super Casco insurance also includes, in addition to standard terms, leasing repayment insurance, insurance of tyres held in storage and coverage of the purchase price, up to 5-year-old second-hand cars as well.

LHV Casco insurance is cost effective and offers wide insurance coverage. LHV Casco insurance also includes all-risk insurance. Restoration of the car's pre-damage condition is always carried out in the official dealership and in the case of total damage, 5% in car replacement costs is added to the indemnity. This is supplemented by the standard Casco insurance coverage.

Similarly to before, LHV will forward an offer of an insurance broker to the leasing customer, but now the offer also includes LHV car insurance products. This enables the customer to select the most suitable insurance from the various options.

LHV Pank offers leasing to private as well as business customers. In addition to passenger cars and commercial vehicles, LHV also finances other vehicles ranging from motorcycles to recreational craft and heavy equipment. The outstanding features of LHV leasing are simple self-service, personal client executive, fast response and convenient insurance solutions. At the end of August, the leasing portfolio of LHV Pank amounted to EUR 54 million. LHV is only providing insurance products for passenger cars and commercial vehicles. These assets make up 62% of the leasing portfolio.
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LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 380 people, and more than 151,000 customers use LHV’s banking services. Pension funds managed by LHV have more than 178,000 active clients.

Compensa Vienna Insurance Group, ADB Estonian branch, belongs to the leading insurance group of Austria and Central and Eastern Europe, the Vienna Insurance Group. The group has been active in the field of insurance for more than 190 years and today, they are active in 25 countries, with 50 group companies and around 25,000 employees. Vienna Insurance Group has a good credit rating of A+ (Standard&Poor’s). In Estonia, the group started offering property insurance services at the beginning of 2016.

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