Collateral insurance

• The property used as collateral for the loan must be insured in an insurance company, life insurance company or branches of foreign insurance companies that offer non-life or life insurance services in the Republic of Estonia under operating license.
• Policyholder: the owner of the insured property or another person.
• Beneficiary: AS Citadele banka Estonian branch (registration code 11971924).
• Insurance contract validity: minimum of 1 year.
• Insurance amount: the restoration value of the property.
• Maximum amount of excess: 400 EUR.
• The insurance policy must be submitted to Citadele Bank cooperation partner IIZI Kindlustusmaakler at citadelepoliis@iizi.ee no later than 10 (ten) days before the end of the previous policy.
• Insured risks:
• fire, lightning strike, explosion of the building's gas (heating) system, flight accident, i.e. the fall of a manned aircraft (including an airplane, helicopter), its parts or cargo), etc.
• natural disasters, including flood, storm, hail, rain or snow, which is unusual in a specific territory, etc.
• water emergency, including water or steam leakage, water and sewage system breakdown, water or steam leakage due to fire brigade or other third party, etc.;
• illegal activity of a third party, including burglary, robbery, vandalism, etc.

Immediately notify the Bank in writing of the occurrence of an insurance incident!