Home Insurance

We offer the home insurance in cooperation with If Insurance Company, which is the leading insurance company in the Northern Europe and the Baltic States.

Advantages offered by If Insurance Company:

  • Convenient payment of policy - performed automatically from the account specified in the agreement.
  • Automatic prolongation of policy. Throughout the entire  period of mortgage, the bank will remind you in due time about the approaching end date of the insurance policy and will prolong it.
  • You can insure not only the property pledged at the bank, but also your movable property as well as insure against damages you may cause to neighbours.
  • Simple procedure of claiming for indemnity 24/7 either by calling at 8333 or sending an e-mail to atlidzibas@if.lv.
  • You can view the status of the recorded indemnity in the If PortalOpens new window.
  • Indemnity will be paid out within 10 business days.
  • Convenient option to view and print out your insurance policy at any time by logging on to the If Portal using your Nordea Netbank user number and a code from the code card.

 Receive the Insurance Policy

Property insurance will make you feel safe and protect from substantial unanticipated expenses caused by different sudden incidents.

For example:

  • Water leaks (cracked pipe or washing machine inlet, leak from neighbours' apartment).
  • Damaged engineering communications (their repair or purchase).
  • Third party criminal activity (vandalism, theft, robbery).
  • Theft of lock of the street door (its purchase and replacement).
  • Fire accidents (fire, lightning, explosion, soot).
  • Natural disasters (storm, hail, snow or ice weight, breaking of a dam).
  • Home hit by a vehicle.


The insurance policy covers the constructions and the trim of a house as well as glazing, auxiliary constructions (fence, automatic gates, flag pole, lights), but in case of attic apartments - the respective part of the roof.

It is possible to insure the following additional risks:

  • Provision of replacement home (rental costs of a temporary living space).
  • Fallen trees, masts or poles (except for storms).

Customers who have a mortgage on their house must take out an insurance policy in the replacement value of the purchased real estate. It equals the amount that would be necessary to build a new equivalent building in the place of the old one with the same constructions and parameters and having the same purpose.

Even if you are a Nordea customer without any mortgage loans at Nordea, it is recommended that you insure your property in the amount of its replacement value.

By taking out home, contents and civil liability insurance at Nordea Bank you will receive free of charge Day and night home assistance in emergency situations. For more information, see section Day and Night Home Assistance.

It is important to protect not only your home, but also your household objects, therefore it is recommended to insure them against the same risks as the property. It is possible to insure the following belongings.

For example:

  • Furniture
  • Clothes, accessories
  • Electric equipment
  • Kitchen appliances, crockery
  • Hobby items (sports equipment, musical instruments, toys, hunting equipment)
  • Belongings kept outdoors (garden furniture, trampolines, play grounds)

When insuring belongings or movable property the insurance amount is being set based on information provided by the customer regarding the belongings situated on the specified location and their value, except for items of particular value for which a valuation by an expert is required.

If the value of any of the items of your movable property exceeds EUR 3000 it must be identified separately in the insurance policy.  For example, if the value of one insured wardrobe is EUR 3500, please specify the name of the item in the insurance policy: wardrobe and its value.

If the total insurance amount of the movable property exceeds EUR 45 000 the insurant must provide the insurer with information on the total value of the property and a list of belongings.

Civil Liability Insurance compensates damages caused by you to the property and health (including life) of third parties.

For example:

  • You forget to turn off the water tap and flood the neighbour's apartment.
  • A fire breaks out in the apartment due to faulty electric installation and damages extend also to the neighbour's apartment.
  • During a walk your dog bites a passer-by.
  • A neighbour or a passer-by slips and incurs trauma on ice-covered footpath at your home.

In addition, the insurance compensates also the legal and court expenses incurred if a claim on indemnification of losses is brought to court.

In addition to the risks covered by the home insurance the Construction Insurance covers also damages incurred as a result of construction works.

Policy covers insurance of:

  • Already built part of the property.
  • Works performed and materials applied at the site.
  • Work and materials to be used in the further construction process.
  • In the course of renovation of an apartment.

Construction Insurance Policy is necessary for construction works, which require building permit or other type of document confirming that the construction works have been approved.

Construction insurance policy must be purchased for the entire length of construction works.

Even if the home is being built or reconstructed by you instead of using the services of a construction company, it is necessary to have the Construction Insurance due to the fact that damages incur quite often in construction process. Besides, such damages can be much larger than potential damages to an already finished real property - a house or an apartment.
If in accordance with the laws of the Republic of Latvia the repair or renovation works in the apartment or house require a building permit, it is necessary purchase the contractor's civil liability insurance for the entire duration of the works.

Contractor's Civil Liability Insurance compensates damages, if they were incurred directly in the result of the construction works specified in the policy and they were incurred and identified in the location specified in the policy, namely, at the particular address.

Contractor's civil liability insurance compensates the following expenses:

  • Damages caused to the property of third parties.
  • Expenses linked with medical treatment, temporary incapacity for work, loss of capacity to work, death and funeral of third parties.
  • Legal expenses agreed in advance with the insurance company.