Can a lessee insure the demised property by themselves once the leasing contract terminates?

With standard leasing products, the leasing lessee can insure the demised property individually, i.e. to choose their own insurance company.

What bonus do insurance companies provide after leasing termination and with insurance continuance?

Insurance companies generally provide bonuses with insurance contract renewal; commonly, the premium rate does not increase significantly compared to the rate valid at the time of the lease.

What is the approved course of actions in the event of car total collision or theft?

• In the event of demised property theft, the leasing contract with the lessee is terminated via IMPULS-LEASING Slovakia early based on the decision of the police once the crime has been investigated. In the event of so-called “total loss”, IMPULS-LEASING Slovakia will terminate the leasing contract earlier upon receipt of a statement of the insurance company which insured the demised property deeming the insurance event a total loss.
• As of the early termination moment, the client must settle all obligations to the leasing company up to the moment of early termination. In addition, the seller has to pay the sum equivalent to the future leasing instalments (due after the leasing contract early termination); however, refinance interest will be deducted therefrom.
• After the insurance claim amount receipt, the claim amount is set against IMPULS-LEASING Slovakia’s claim ensuing from early termination of leasing contract. Any surplus will be paid by IMPULS-LEASING SK to the client; arrears will be paid by the lessee to the leasing company.

What does standard premium cover?

All insurance rates with our contractual insurance companies cover: collision insurance, insurance against natural disasters, theft and vandalism.

How is insurance dealt with once the lease terminates and the car becomes my property?

If the demised property is insured under a mass insurance contract between the insurance company and IMPULS-LEASING Slovakia, the insurance will terminate as on the agreed expiration day of the leasing period of the demised property.

What course of actions do you follow with insurance events?

• The leasing lessee reports (in writing, by fax or phone) an insurance event to IMPULS-Leasing Slovakia and at the same time realises all the actions required by the insurance company and the police.
• IMPULS-LEASING Slovakia will issue a certificate of consent to the insurance company (dissent if obliged to by lessee) to financial settlement of the insurance event directly to the lessee's account.
• The insurance company will perform inspection of the demised property and contact the service centre.
• The lessee will ensure transport of the demised property to the service centre.
• The service centre will perform repair of the demised property, the insurance company will reimburse the costs to the related service centre and the lessee will pick up the demised property. In case of an insurance event wherein the repair costs exceed the current price of the demised property or in case of failure of the demised property, the insurance company will credit the funds to IMPULS-LEASING Slovakia. IMPUILS-LEASING Slovakia will execute financial settlement with the lessee (depending on the advance payment amount, number of already paid and unpaid leasing instalments) and will credit the funds to the lessee's account.