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Coop Pank and If Kindlustus launched home insurance service

Coop Pank launched home insurance service to its customers in cooperation with If Kindlustus.

Karin Ossipova, who heads the business line of loans against real estate collateral at Coop Pank, says that home insurance is mandatory for homes bought with home loan. "Coop Pank clients will from now on have a convenient opportunity to enter an adequate insurance contract in the course of applying for a loan. There is no need to worry about extending the contract later or submitting it to the bank as our trustworthy partner If Kindlustus will take care of that for the client" Ossipova said.

At If, you can insure your house or summer home, apartment or terraced house, outhouse or a house currently under construction. Having your home insured will give you a sense of security as the insurance will help you to cover the losses in case of unexpected accidents and the consequences are easier to overcome. ​

According to If’s Property Insurance Product Manager Veiko Sepp, 120 000 Estonian homes are insured at If and the annual statistics show that three main accidents at home are water damages, storm damages and theft. ”Each year we compensate the losses of about 3500 fires, most of which happen to apartments and home property. If an accident happens with an apartment or a house, home property is usually damaged and this is why we recommend insuring also property," Sepp said.

When entering a home insurance contract, it is especially important for apartment owners to choose also a liability insurance that protects you against damages that you as the owner of an apartment or a house have caused to others.

“Claim handling experience of If shows that almost half of water damages in apartments originate from neighbouring apartments. For instance, flooding caused by a ruptured hose of a washing machine can seriously damage valuable furniture of the downstairs neighbour. Without liability insurance, the caused damages one has to compensate the caused damages him/herself," Veiko Sepp added.
 

How to get an If home insurance contract?

Coop Pank client can ask for a home insurance offer during applying for a home loan.

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