Requirements for collateral insurance

  1. 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.
  2. Policyholder: the owner of the insured property or another person.
  3. Beneficiary: AS Citadele banka Estonian branch (registration code 11971924).
  4. Insurance contract validity: minimum of 1 year.
  5. Insurence amount: the restoration value of the property.
  6. The insurance policy (including the insurance contract with general terms and conditions) and the original document certifying the insurance payment must be submitted to Citadele Bank no later than 10 (ten) days before the end of the previous policy's validity period.
  7. 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!

Preferred insurance companies

  • ADB Gjensidige Eesti filiaal

  • Lietuvos draudimas AB Eesti filiaal

  • IF P&C Insurance AS

  • ERGO Insurance AS

  • Salva Kindlustuse AS

  • Swedbank P&C  Insurance AS

  • BTA Baltic Insurance Comp, Eesti filiaal PZU

  • Compensa Vienna Ins. group EE

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