Purchase insurance

Debit and credit card purchase insurance

We dare to do things differently in Coop Pank. Ordinarily, purchase insurance is only offered to high-status clients or credit card holders – but we offer it, free of charge, to all of our private clients who make payments with a Coop Pank card! That means that all of the purchases you make between the values of €100 and €2500 are automatically covered with 180 days of insurance!

Automatic and free

Pay for your bigger purchases with a Coop Pank card and they’ll automatically be covered for a full six months!

Quick and easy proof of purchase

If you have to make an insurance claim, an overview of your card transactions from the Internet bank is all you need to prove the purchase.

Minimal excess

Whether your dog uses your glasses as a chew toy or you drop your phone on the ground, all you have to pay as excess when lodging an insurance claim is €30.

Our clients’ experiences

L

I’d only had my new pair of glasses for three days when I somehow managed to scratch them. Thankfully I’d paid for them with my Coop card, so the purchase insurance it comes with covered the cost of replacing the lenses!

Liisa

Project manager

M

I was in the middle of a skydive when, at about 1700 metres up, my Action Cam decided it didn’t want to be with my Insta360 4K helmet anymore and plummeted to Earth. Coop’s purchase insurance helped me out big time.

Mart

IT expert

While I was putting the kids in the car, my two-year-old knocked my glasses onto the ground, where my four-year-old stepped on them almost instantly, breaking one of the lenses. Purchase insurance fixed that!

Annika

Retail worker

M

I was mowing the lawn at our new place when I ran straight into this pipe you couldn’t see that was poking up through the lawn. Needless to say it messed up the blades, which needed to be repaired. Coop’s purchase insurance came through for me.

Marek

Entrepreneur

Lodge a claim

Coop Pank’s purchase insurance partner is If P&C Insurance AS.

To make sure your claim is handled as quickly as possible, lodge it with If directly. Add the word ‘Coop’ to the policy number field.

Purchase insurance – good to know

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.
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.