Vehicle Insurance Requirements for Customers of

SIA Citadele Factoring and SIA Citadele Leasing

Owner of the insured object

SIA Citadele Factoring (unified registration No. 50003760921) or
SIA Citadele Leasing (unified registration No. 40003423085)

Insured sum

Market value of the insured object (leasing object).

Duration of the insurance agreement

Duration of the leasing agreement

Approved insurers

  • AAS Balta
  • AAS BTA Baltic Insurance Company
  • AAS Baltijas Apdrošināšanas Nams
  • ERGO Insurance SE Latvian Branch
  • IF P&C Insurance AS Latvian Branch
  • ADB Gjensidige Latvian Branch
  • Compensa Vienna Insurance Group ADB Latvian Branch

or another company on which an individual agreement has been reached with SIA Citadele Factoring or SIA Citadele Leasing

Insured risks

Damage, destruction, fire, natural disasters, lightning strike, unlawful actions of third persons (theft, robbery, entry (intrusion)), road traffic accidents – if the object participates in road traffic.


The excess of the insured person or the insurance policy holder shall not, in the case of the theft/robbery and destruction of the leasing object, exceed 15% of the market value of the leasing object, but in cases of damage it shall be determined in an amount which does not exceed the following minimum excess values.


Passenger car (up to 3.5 t)


Market value Max. permitted excess
Up to EUR 30,000 EUR 300
Over EUR 30,000 EUR 700

Commercial passenger cars, tractors, trailers, semi-trailers, objects of industrial and other leasing

Market value Max. permitted excess
Up to EUR 30,000 EUR 500
Over EUR 30,000 EUR 1000
Over EUR 100,000 EUR 2000

If the insurance territory includes CIS countries, the excess for theft and robbery risks may be applied in double the amount.


If you have any questions or uncertainties, please address your leasing manager.