Terms and Conditions of LHV Gold Card, Platinum Card and Private Banking Card purchase protection insurance

Valid from 31.03.2021

Important Information

The insurance period starts on the date of card activation and ends on the card's expiration date. Purchase protection insurance is valid only with the card.
Purchase protection insurance coverage starts from the moment the object is handed over to the insured and ends 180 days after the day on which the card was used to pay for the object. The purchase insurance coverage expires prematurely if the card expires and a new LHV bank card with insurance has not been activated on behalf of the insured.
Sum insured is the purchase price of the insured object, in the extent to which LHV indemnifies the damage caused due to an insured event. The minimum purchase price is 100 euros and the maximum price is 5,000 euros.
The limit of indemnity is 5,000 euros per insured event, not to exceed 10,000 euros per year. The insured year starts on the date of card activation.
The deductible for each insured event is 30 euros.
Insurance coverage is valid worldwide.
The insured is a private-person cardholder. All persons legally possessing or using the insured object are considered equivalent to the insured.

The Terms and Conditions of Purchase Protection Insurance describe the insurance coverage for accidental damage to purchased products, action to be taken in the event of a loss and the principles of indemnification.

Purchase insurance protects various kinds of purchases made with the Gold Card, Platinum Card, and Private Banking Card (hereinafter card) on a total risk basis in case of damage caused by unexpected and unforeseen events. LHV reimburses the costs of restoration or replacement of the item and related justified transport costs. Purchases are protected whether they are used by the owner or other users.
AS LHV Pank (hereinafter also policyholder), registry code 10539549, address Tartu mnt 2, 10145 Tallinn,
email info@lhv.ee, has entered into an insurance contract with the insurer LHV Kindlustus (hereinafter LHV), registration code 14973611, address Tartu mnt 2, 10145 Tallinn, e-mail kindlustus@lhv.ee, in which the insured is the cardholder (hereinafter insured).
The scope of the insurance coverage is described in these Terms and Conditions of LHV Gold Card, Platinum Card and Private Banking Card purchase protection insurance (hereinafter Terms and Conditions).

Contact details for the insurer

Customer support
Mon–Fri 9 am–5 pm
699 9111

Claims adjustment


Loss event is an unexpected event that causes property damage.
Insured event is an event provided for in the Terms and Conditions, upon the occurrence of which LHV must perform its obligations arising from the contract.
Insurance period is a period specified in the policy, damage caused during which as the result of an insured event is indemnified.
Limit of indemnity is the maximum amount in which damage caused as a result of an insured event is indemnified.
Purchase price is the amount that the insured paid by card for the insured object.
Insured object is a purchase made by the insured.
Purchase is new movables purchased, for which the insured paid in full by card.
Movable property is durable goods intended for independent final consumption and has a service life of at least two years. The service life is determined by the manufacturer. If the service life has not been determined by the manufacturer, LHV determines the service life based on the purpose of use and the material the items are made of.

  1. Insured object

    1. The insured item may be various kinds of movables, including movables purchased online, for which the card has been paid for in full and which have been purchased new, in their original form, considering the following restrictions.
      1. The following are not insured together with the insured object:
        1. consumable parts and other parts and components of the insured item that are replaced during normal use of the device, such as batteries, charger, drill, disc, chain, cartridge head, light bulb, filter, cartridge, tape, drum, consumable material and the like;
        2. a third object (such as a memory stick) left in the insured object;
        3. software installed on the insured object, including software failures caused by viruses or spyware;
        4. data stored in the insured object or damage to or destruction of the data;
        5. loss caused by the impossibility of using the insured object;
        6. other damage not directly caused to the insured object.
      2. The following is not an insured object:
        1. an object with a purchase price of less than 100 euros or more than 5,000 euros;
        2. a used item, except for a sample product used in the seller's shop;
        3. hired, rented or leased item;
        4. an object not paid for in full at the time of the occurrence of the insured event, including an object purchased through hire-purchase;
        5. motor vehicles, trailers, watercraft and aircraft, their engines, parts and accessories, with the exception of electric vehicles with an output not exceeding 1 kW or with a maximum speed not exceeding 25 km / h;
        6. cash, stamps, coins and other collections, tickets, checks, discount coupons and other means of payment;
        7. documents;
        8. animals and plants;
        9. an item that has been reworked, rebuilt or repaired by the time of purchase;
        10. an item that has become damaged or dirty by the time of purchase;
        11. an item acquired for resale or for economic or professional purposes;
        12. an item the possession of which is prohibited by law;
        13. drone.
  2. Insured event

    1. An insurance event is an unexpected and unforeseen event that occurred during the insurance period, including destruction, damage, theft or robbery, as a result of which damage to the insured object occurs and which is not excluded in clause 3 of the terms and conditions.
  3. Exclusions

    1. LHV does not indemnify for damage indirectly or directly caused by the following events, causes or consequences.
      1. Damage that occurred before the delivery of the object to the insured
        Losses and damage that occurred before the delivery of the insured object and the occurrence of which was evident at the time of delivery of the object. Damage caused by a third party during transport is also taken into account.
      2. Recurring damage
        Damage that occurs with a predictable frequency, and damage where the insured has failed to take measures to prevent its aggravation or recurrence.
      3. Unattended or lost insurance object
        Losing or forgetting of property, including leaving the insured object in a visible place in a vehicle or other visible place or unlocked room.
      4. Fraud
        Transfer of possession of an object to a third party due to fraud or deception.
      5. Long-term process
        Damage to the insured item caused by normal gradual wear, spoilage, corrosion, rust, material fatigue or mould.
      6. Expansion or contraction
        Damage caused by shrinkage or expansion of the insured object or its parts, unless it has occurred directly as a result of the insured event.
      7. Cosmetic defects that do not affect the intended use of the object
        Scratches, pits, stains, dents, tears, change of colour tone and the like that do not affect the intended use of the insured object.
      8. Nuclear energy, blasting and vibration
        Blasting and mining operations, vibration, explosion of nuclear and radioactive material, use of nuclear energy for any purpose, or such a process that goes out of control.
      9. Damage indemnifiable under another contract
        Damage indemnified under, for example, a (manufacturer's) warranty or another contract.
      10. Maintenance works
        The cost of maintenance or repair work and the cost of spare parts to be replaced during maintenance work, including the cost of eliminating minor external defects, such as removing stains and discolouration and eliminating odour changes, and removing external scratches.
      11. Environmental pollution
        Costs of eliminating environmental pollution.
      12. Military action, terrorist acts and riots
        War and political armed conflict, act of terrorism, insurrection, riot, strike, work stoppage; military action, mass unrest, coup and state of emergency.
      13. Expropriation
        Expropriation, confiscation or other similar event.
      14. Use of the object for other than the designated purpose
        Use of the insured object for a reason or in a way not intended, such as use in violation of the manufacturer's instructions, overrun of the work cycle, incorrect or incomplete connection, installation, cleaning, maintenance or repair, including repair and maintenance by a third party or unauthorized company.
      15. Improper transport and storage of fragile items
        Packing or storage of fragile items for transport other than in hand luggage, unless not permitted by regulations. Also a case where packaging of a fragile insured item sent by post or courier is not labelled accordingly with an indication that it is easily breakable, e.g. “Fragile” or “Handle with care.”
      16. Use of substandard parts or repair
        Use of defective, incorrect or non-manufacturer-certified spare parts, accessories or materials, modification in violation of the manufacturer's instructions, repair error.
      17. Use of the object for commercial purposes
        Renting or lending the insured object to another user for a fee.
      18. Equipment failure
        Damage or destruction of the insured object caused by internal electrical or mechanical failure of the insured object.
  4. Deductible

    1. A deductible is the amount that is to be borne by the insured in case of an insured event. The deductible is deducted from the insurance indemnity to be paid. If the insured object has been damaged or destroyed as a result of several insured events, a deductible applies to each insured event separately.
  5. Action to be taken in the event of a loss event

    1. In the event of a loss event, the insured must:
      1. take measures to prevent or reduce further damage;
      2. report the incident immediately by calling 112 in case of suspicion of intentional actions of a third party or in the event of a fire or explosion, and in other cases, to the relevant competent authorities or persons;
      3. notify LHV of a loss event as soon as possible after the loss event occurred or was learned of;
      4. follow the instructions given by LHV;
      5. to provide LHV with the necessary information on the circumstances of the loss event and the potential cause of the damage and to provide LHV with access to the damaged object;
      6. take into account that LHV may, in order to establish the circumstances of the loss event, require from the insured additional information, among others:
        1. documents proving the expenses incurred due to the loss event;
        2. a certificate issued by the police in case of theft, vandalism and intrusion;
        3. a certificate issued by the Rescue Board in the event of fire;
        4. explanations regarding the loss event.
  6. Safety requirements

    1. LHV has the right to deny or reduce the indemnity if the insured has:
      1. failed to comply with safety requirements arising from legal acts or instructions for use;
      2. left a source of fire risk unattended or in the supervision of minor children;
      3. left its property in a place or conditions that do not comply with the manufacturer's instructions;
      4. failed to securely close windows, doors, hatches or other openings when away from home, thus making it possible to enter the building without having to break the closing mechanism or a barrier to entry;
      5. while away from home or at night, failed to move indoors property not intended to be stored permanently outdoors into a locked structure or left it in a place visible from the street (except garden furniture, robotic lawnmower, trampoline and garden grill);
      6. left insured property unattended;
      7. failed to take measures for preventing recurrence of damage.
      8. left fragile items, including musical instruments, in unsuitable packaging or in a place unsuitable for transport.
  7. General principles of indemnification

    1. In case of an insured event, LHV indemnifies the direct and justified costs of restoration or replacement of the insured items and justified transport costs related thereto, less the deductible specified in the Terms and Conditions. LHV's general principles for indemnification are the following.
      1. LHV shall make a decision on indemnification in ten working days after it has received all necessary information on the loss event and the amount of damage. If, for reasons beyond LHV's control, it is not possible for LHV to determine the full amount of the damage, LHV will first indemnify the part of the damage where the amount of damage is clear. With good reason, LHV may extend the term for making a decision on indemnification of damage.
      2. After the occurrence of the insured event, the annual limit of indemnity specified in the Terms and Conditions decreases.
      3. LHV determines the method of indemnification, which may be the repair of the damaged item or replacement with an equivalent item, or monetary compensation, and may also select the repair company or the place from which the equivalent item will be obtained upon replacement. The corresponding solution shall be organized and ordered by LHV.
      4. If it is not economically feasible or otherwise possible to repair the insured object, LHV shall replace the insured object with an equivalent one or determine monetary compensation.
      5. The calculation of the monetary compensation is based on the repair costs if the repair of the item is possible and economically feasible. Otherwise, the compensation is based on the purchase price. LHV also reimburses justified transport costs.
      6. LHV is not obliged to accept the repair or replacement of the insured item at a place other than LHV's chosen location or to pay indemnity in a larger amount than it would pay for repair or replacement of the item at LHV's selected providers.
      7. If LHV arranges the repair or replacement of the item, LHV compensates the cost of repairing the insured item directly to the repair company that repaired the insured item or the seller for the replacement cost. Financial compensation is paid to the insured’s current account in LHV Pank.
      8. If the insured item is part of a set, LHV will, in case of a loss due to destruction, robbery or theft, indemnify only the part.
      9. If the claims adjustment process reveals that it is not an insured event, the related costs shall be borne by the insured.
      10. LHV has no obligation to indemnify the value of the extant part of the insured object. If LHV compensates the costs of replacing the insured object, LHV is entitled to the right of ownership of the replaced object.
      11. If the insured wishes to retain ownership of the no-longer-extant object, the insurance indemnity shall be reduced by the post-insurance-event value of the property.
  8. Obligations of the insured

    1. The insured is obliged to:
      1. explain the rights and obligations arising from the Terms and Conditions to all persons deemed equivalent to the insured who use the insured object;
      2. notify LHV of a loss event as soon as possible after the loss event occurred or was learned of;
      3. do everything in its power to prevent an insured event and reduce possible damage, to avoid the possible increase of the insured risk and not to allow the persons who use the insured property to increase the insured risk;
      4. if a stolen item is returned after LHV paid the insurance indemnity for it, return to LHV the insurance indemnity paid for the object or hand over the returned item to LHV;
      5. return to LHV the insurance indemnity paid to it if, after indemnification of the damage by LHV, circumstances precluding indemnification become apparent or if the damage is indemnified by a third party;
      6. enable LHV to investigate the circumstances of the insured event in order to identify the amount of the loss and the persons responsible for the loss and, if necessary, to involve experts in establishing the circumstances of the insured event.
  9. Obligations of LHV

    1. LHV is obliged to:
      1. to start claims adjustment immediately after receiving the notice of loss and to determine the amount of loss to be indemnified;
      2. after receiving a notice of loss, to inform the insured which documents must be submitted to LHV in order to determine the cause and amount of the loss;
      3. make a decision on indemnifying loss or refusal to do so within ten working days of receipt of all required documents and determination of the amount of damage and the circumstances in which it occurred;
      4. indemnify the damage caused due to the insured event or pay the agreed monetary amount or the insurance indemnity in one instalment or in parts, or perform the Terms and Conditions in another agreed manner.LHV must pay the insurance indemnity within a reasonable time after the completion of the claims adjusting operations and making of the indemnification decision. If LHV delays the performance of a monetary obligation, it is obliged to pay late interest at the rate provided in the Law of Obligations Act;
      5. if the obligation to indemnify damage arises, to reimburse, inter alia, the necessary expenses borne by the insured in connection with the determination of the damage and the amount thereof. LHV is not obliged to reimburse the insured for the costs of hiring an expert or consultant if the insured was not obliged under the contract to hire an expert or consultant;
      6. refuse to pay the insurance indemnity if the payee is subject to a corresponding restrictive international financial sanction established on the basis of UN resolutions or corresponding legal acts of the European Union or the Republic of Estonia.
  10. Refusal or reduction of compensation

    1. LHV has the right to deny or reduce the indemnity if:
      1. the insured caused the damage intentionally and/or while intoxicated;
      2. the insured has intentionally submitted false or misleading information to LHV or failed to submit significant information concerning the material circumstances of the loss event;
      3. the event is one where resulting damage is not compensated on the basis of the Terms and Conditions;
      4. damage occurred to objects that are not insured under the Terms and Conditions;
      5. the insured has failed to comply with at least one of the safety requirements provided for in clause 6 of the conditions or the obligation provided for in clause 8 and this has a causal link with the occurrence of the damage.
    2. LHV has the right to refuse to pay the insurance indemnity if the payee is subject to the relevant international financial sanction established by the Office of Foreign Assets Control (OFAC) under the relevant legislation of the United States of America or the relevant legislation of HM Treasury United Kingdom.
  11. Termination of insurance coverage

    1. The insurance coverage expires upon expiry of the card or upon expiry of the insurance contract concluded between LHV and the policyholder.
    2. Upon expiry of the card, the insurance coverage continues if the insured orders a new card from LHV, which protects purchases under the same conditions.
    3. The policyholder shall notify the insured of the termination of the insurance contract entered into with LHV 60 days before the termination of the insurance contract.
  12. Underinsurance, overinsurance and multiple insurance

    1. If the sum insured specified in the policy is less than the insurable value at the time of the insured event, LHV's liability for the damage is equal to the sum insured (underinsurance).
    2. If the sum insured significantly exceeds the amount of loss, LHV will indemnify the actual amount of loss, taking into account the limit of indemnity (overinsurance).
    3. If the insured 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 and severally liable (multiple insurance).
  13. Communication

    1. All notices necessary for the performance of the Terms and Conditions shall be submitted in a form that can be reproduced in writing.
  14. Processing of personal data

    1. LHV is entitled to process personal data related to the Terms and Conditions on the basis of LHV's Principles of Processing Client Data and to disclose information related to the Terms and Conditions to a third party whose right to receive information arises from LHV's Principles of Processing Client Data.
    2. LHV has the right to preserve recordings obtained by telecommunication or other means in connection with the performance of the Terms and Conditions and, if necessary, use them to prove the declarations of intent submitted by the insured.
  15. Supervision and resolution of complaints

    1. The activities of LHV are supervised by the Financial Supervision Authority located at Sakala 4, 15030 Tallinn. The insured has the right to file a complaint against LHV with the Financial Supervision Authority (phone 668 0500, e-mail info@fi.ee, website www.fi.ee). The Financial Supervision Authority does not resolve contractual disputes between LHV and the insured.
    2. All disputes shall be settled by agreement of the parties on the basis of the Terms and Conditions and the legal acts of the Republic of Estonia.
    3. The extrajudicial bodies for resolving disputes are the conciliation body of the Association of Estonian Insurance Companies, Mustamäe tee 46, 10621 Tallinn (phone 667 1800, e-mail lepitus@eksl.ee), and the Consumer Protection and Technical Surveillance Authority, Endla 10a, 10122 Tallinn (phone 667 2000, e- post info@ttja.ee).
    4. If no agreement is reached, the parties have the right to apply to a county court.
  16. Law applicable to the Terms and Conditions and limitation of claims arising from the terms

    1. The law of the Republic of Estonia applies to the conditions.
    2. The limitation period for claims arising from the conditions is three years. The limitation period shall run from the end of the calendar year in which the claim becomes collectible.
  17. Conflicts in the documents comprising the Terms and Conditions

    1. 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.