Fire insurance is a mandatory insurance for everyone who owns a property. 

The property specified in the certificate and its customary fixtures that is covered by the property's fire insurance valuation. This can include, for example, permanent fixtures and stove. A detailed list of what is covered and what is not covered can be found in the insurance's information document. 

When you buy a property from a real estate agent, they send a notification to the Property Register and then the fire insurance is transferred to the buyer without them having to do anything in particular. If the sale does not go through a real estate agent, the owner must complete the request for insurance. 

No, the tenant does not need to have this insurance. Only the owner of the property. 

Yes, you can have your property assessed or re-assessed and then contact Registers Iceland. 

If the property is considered to be worth more than the fire insurance valuation indicates, additional fire insurance may be a good option. Additional fire insurance increases the value of the fire insurance valuation beyond what Registers Iceland has published.