Extended warranty and Damage protection

Extended warranty insurance Insurance product information document

AS LHV Kindlustus, registered in the Republic of Estonia

This document provides a general overview of extended warranty insurance. This document does not contain all the terms and conditions of the insurance contract based on the insurance interest and requirements. Complete information, including pre-contractual information and contract terms, is provided in other documents, such as the offer, the Terms and Conditions of Extended Warranty Insurance and the insurance policy.

What is this type of insurance?

Extended warranty insurance is a voluntary insurance that protects the policyholder’s insured item upon emergence of a manufacturing defect during the extended warranty insurance period.

What is insured?

• The durable goods specified in the insurance contract are insured.
• An insured event is a manufacturing defect in the insured item that becomes evident during normal use of the item and meets the requirements of an incident covered by the manufacturer’s warranty.
• The sum insured for the insured object is specified in the insurance contract which is the insurable value immediately before the occurrence of the insured event. Insurable value is the amount required to acquire an equivalent item.

What is not insured?

The following are not insured (the full list is provided in the Terms and Conditions of Insurance):

• any damage caused by an external factor;
• cosmetic defects;
• maintenance works;
• misuse of the item;
• use of poor-quality parts;
• internal failure of the insured object;
• consumable parts, other parts and components of the insured item that are replaced during normal use of the product, such as batteries, charger, drill, disc, chain, cartridge head, light bulb, filter, cartridge, tape, drum, consumable material and the like;
• a third object left in the insured object;
• stored data, software;
• impossibility of using the item;
• damage caused over a long period of time, gradually due to adverse factors, such as gradual wear, deterioration, corrosion, rust, material fatigue or mould;
• use of the item for a commercial purpose, such as renting or lending.

Are there any restrictions on cover?

Restrictions on insurance coverage are provided in the Terms and Conditions of Purchase Protection Insurance and the policy. For example, the following are not indemnified:

• the amount of the deductible;
• damage compensated by a third party;
• damage for which a third party is liable;
• damage caused intentionally or through the gross negligence of the policyholder;
• damage caused by non-compliance with the maintenance requirements specified in the manufacturer's instructions;
• damage caused by poor quality repairs, use of poor-quality or incorrect spare parts or accessories or materials, or unauthorized modification of the product;
• damage caused by leaving the insured items unattended.

Where am I covered?

Extended warranty insurance is valid worldwide, but claims adjustment takes place in Estonia.

What are my obligations?

• Submit complete and correct information to LHV prior to conclusion of the insurance contract.
• Pay insurance premiums by the due date and in the amount specified in the policy.
• Avoid increasing the insurance risk and do not allow persons who use the insured property to increase the risk.
• Notify LHV immediately of any increase in the insurance risk - for example, in the event of changes compared to the provisions set forth in the insurance contract or in connection with transfer of the insured object.
• Make all efforts to prevent an insured event from occurring and to reduce potential damage.
• Notify LHV of a loss event promptly, within no more than five days of the occurrence of the loss event or of learning of theloss event.
• Provide LHV with complete and correct information regarding the loss event.
• Allow LHV to investigate the circumstances of the insured event.

When and how do I pay?

Pay the insurance premium or its instalments in the amount and by the due date indicated in the policy by bank card or bank transfer.

How do I terminate a contract?

If you concluded the insurance contract by means of telecommunications, you have the right to withdraw from the contract within 14 days of concluding it. To do so, submit an application to LHV in a form that can be reproduced in writing by email to kindlustus@lhv.ee. If you withdraw from the insurance contract, LHV will refund the paid insurance premium. If LHV has provided immediate insurance coverage, you do not have right of withdrawal.

If you concluded the insurance contract for more than one year, you have the right to withdraw from the contract within 14 days of concluding it. To do so, submit an application to LHV in a form that can be reproduced in writing by email to kindlustus@lhv.ee. If you withdraw from the insurance contract, LHV will refund the paid insurance premium.

By agreement between the parties, the insurance contract may be terminated at any time before the end of the insurance period. To do so, submit an application to LHV to the e-mail address kindlustus@lhv.ee in a form that can be reproduced in writing, specifying the name of the recipient of the refund of the paid insurance premium and the current account number. If you do not indicate the end date of the insurance contract in your application, LHV will terminate the contract on the day after receiving the application.

If the insurance contract is terminated after the insurance period has already started, LHV will refund the unearned part of the insurance premium.

An insurance contract cannot be terminated retroactively.
Review the terms at https://www.lhv.ee/en/extended-warranty-insurance-for-equipment and consult with experts.

Insurance product information document

Terms and Conditions

Insurance offer