The insurance applies to any durable goods* bought from a physical or online store whose purchase price is from €100-2500. The insurance period is one year from the date of purchase, and the excess is €30 per claim.
*Durable goods are items for which the manufacturer foresees a long period of use: mobile phones, tablets, laptops, clothes, shoes, electric scooters, precious stones and metals, leather goods, paintings, sculptures and more. They don’t include e.g. used items, foodstuffs, motor vehicles, plants or animals. Note that for certain goods (such as technical equipment) there’s a maximum compensation amount of €500. View the terms and conditions of purchase insurance here.
You heard right – pay for your purchase using your Coop Pank debit or credit card and it will be automatically covered for a full year.
Damage to property Example: You buy your child a scooter using your Coop bankcard. They fall while riding it, breaking the bar and front wheel attachments. The insurance covers the repair costs, with you only having to pay the excess of €30.
Destruction of property Example: The €450 mobile phone you’ve only just bought falls into the water when you’re fishing. There’s no way of restoring it, so the insurance covers the cost of replacing it to the same value, i.e. €420 (with the other €30 coming from your excess).
Theft Example: While you’re on holiday, thieves steal everything from your car boot, including the new sunglasses you bought a month ago. Since they’re covered by purchase insurance, you get the original cost of them back minus the €30 excess you have to pay.
Robbery Example: While at a nightclub, someone violently rips the handbag you bought just three months earlier out of your hands. The insurance covers the purchase price of the handbag, from which your excess of €30 is deducted.
New items for which the cardholder paid in full using a valid Coop Pank card and that cost from €100 to €2500 are insured. An insured event is any incidence of theft, robbery, sudden and unforeseeable destruction of or damage to an item purchased with the card which is not excluded by the insurance contract.
Since our purchase insurance partner is IF P&C Insurance AS, , you should report the incident* here so that your claim is handled as quickly as possible. Be sure to add the word ‘Coop’ to the policy field.
*By incident we mean an insured event, i.e. the sudden and unforeseeable destruction, damage or theft of the insured product. Losing a product or leaving it behind is not deemed an insured event.
Our purchase insurance doesn’t cover second-hand goods, plants, animals, high-power motor vehicles, foodstuffs and goods that are disposable or have a shelf life of less than three months. Nor does it extend to goods purchased using hire purchase.
No – an Internet bank statement serves as proof of purchase. View the terms and conditions of purchase insurance.
The cover starts as soon as you receive the goods and lasts for 1 year.
No more than €2500 will be compensated in the space of a year. The one-year period is counted from the date on which the card was issued. The sum insured for smartphones and mobile phones, tablets and laptops, photo and video cameras, precious stones and metals, fur items, paintings, graphics and sculptures is €500 per insured event.
The insurance doesn’t extend to products bought using hire purchase.
Yes, if the insured item can be repaired and doing so makes financial sense. Compensation in this case is based on the cost of the repairs, including necessary and reasonable transport costs. The entire purchase amount is compensated if repairing the item proves economically unfeasible. For example, it might make sense in certain cases to cover the cost of replacing a phone’s screen if the phone was dropped than to replace the phone as a whole.