Benefits for owner-customers as policyholders

As an owner-customer of the OP cooperative bank, you are entitled to substantial discounts on your policies and many other benefits.

Discounts on insurance

If you are an owner-customer and have policies from three product lines, you are entitled to an almost 10% discount on most policies and a discount of nearly 18% on comprehensive motor vehicle insurance with no-claims bonus.
If you are aged between 18 and 27, you can get a 21% discount on almost all home and family insurance policies.

Other benefits

  • A 40% increase in the sum insured under life insurance
  • 150-euro benefit of the deductible under MyHome Insurance
  • one-year, free-of-charge life insurance for parents with a child under one year of age

In case you have policies from three product lines, you are entitled to:

  • 7% off on home and other property insurance, personal insurance, continuous travel insurance and and comprehensive motor vehicle insurance policies.
  • an additional 8% discount on Super, Standard or Maxi Motor Insurance with no-claims bonus.

As our owner-customer, you get an additional discount of 3% on most policies.

Insurance policy lines are:

  • home and other property insurance
  • motor liability insurance
  • motor vehicle insurance
  • continuous travel insurance
  • personal insurance.

If you are aged 70 or more and an OP Cooperative bank's owner-customer, you are entitled to discounts on only two policies, such as home and motor vehicle insurance.

Increasing the sum insured of life insurance by 40% is free of charge. The rate of the increase will be confirmed every year and is valid for one year at a time (the insurance is issued by OP Life Assurance Company Ltd).

Life insurance will help your loved ones financially if you die due to illness or injury. When determining compensation, we will pay your beneficiaries compensation with a 40% increase. For example, if the benefit to be paid under life insurance is 20,000 euros, we will pay your beneficiaries 28,000 euros. You can take out life insurance either as single or joint cover with your loved one.

You are entitled to a 150-euro benefit of the deductible under MyHome Insurance. In the case of loss or damage, you will not pay any deductible. This applies to damage caused by fire, natural phenomena or crime when the deductible level chosen for these policies amounts to 150 euros and the damage/loss amount is over 150 euros.

This NewLife insurance is intended for parents with children aged less than one year, in which life insurance cover amounts to 20,000 euros/parent You can take out the policy soon after the baby is born until the child turns 1 year. The policy does not require completing a health declaration form.  The insurance takes effect on the date when the parent applies for the insurance and is free of charge from that date. The insurance is issued by OP Life Assurance Company Ltd.

In addition, all our customers are entitled to the following benefits from their insurance transactions:

  • A permanent discount of 5% on a life policy bought online
  • A 2.5% discount in case you pay your bill in one instalment
  • Separately purchasable continuous travel insurance valid until you reach 100 years
  • 24-hour emergency service for claims under motor vehicle, home and travel policies