Partial Comprehensive Insurance
This information document only specifies the main aspects of the insurance, such as what is included and what is not. It is not an exhaustive list or a personal overview of the insurance that customers choose. The information document has no legal significance and is intended solely to inform customers about the main aspects of the insurance. The insurance summary and detailed information on the applicable contract terms are available on the insurance policy, which can be accessed on Vörður’s My Pages. The terms and conditions of the insurance contain comprehensive information about the insurance coverage and are a part of the agreement between the parties together with the insurance certificate.
What kind of insurance is Partial Comprehensive Insurance?
Partial comprehensive insurance has a narrower scope of coverage than the full comprehensive motor insurance. It is suitable for owners of cars and tractors that are driven little in urban areas and are at lower risk of collisions, while risks such as fire and rollover damage still remain.
What Is Covered?
Damage caused by fire, lightning, and resulting fire or explosions.
Damage due to theft and vandalism caused by theft.
Damage if the vehicle overturns and/or falls.
Broken windows.
What Is Not Covered?
Damage to electrical equipment caused by a short circuit.
Damage from fire if the fire is caused by a collision.
Damage from overturning and/or falling if it results from a collision, or occurs during racing or test driving.
Damage to special equipment, such as cranes on trucks.
Damage not considered fire damage, e.g., burn marks on upholstery.
Damage when the driver, due to prior consumption of alcohol, stimulating, or sedative drugs, is deemed unfit to operate the vehicle safely.
Damage occurring when the vehicle is driven by someone who does not hold a valid driver’s license for it.
Damage to wheels and tires caused by overturning or falling, as well as theft of individual vehicle parts and damage resulting from such theft.
Window damage that is not classified as breakage, e.g., chipping or scratching of glass.
Are there any restrictions or precautionary rules?
The insured must comply with Vörður’s precautionary rules.
The vehicle must be securely locked when left unattended, with windows or sunroof closed. Keys must be stored in a safe place where unauthorized people do not have easy access.
The insured must be in a physical condition to operate the vehicle safely and must not be under the influence of alcohol, stimulants, or sedative drugs.
The insured must have the competence to operate the vehicle safely and hold the required licenses.
The insured and operators must ensure the vehicle is legally compliant, undergoes required inspections, is maintained per the manufacturer’s instructions, and that all safety equipment is properly maintained.
Where is the insurance valid?
The insurance applies only to the vehicle specified in the insurance certificate. It does not cover driving outside of Iceland unless specifically agreed with Vörður.
What Are The Insured's Obligations?
If the use of the vehicle changes or is incorrectly registered on the insurance certificate, the insurer must be notified as soon as the policyholder becomes aware of the change. Failure to do so may limit the insurer’s liability.
Following an insurable event, the insured must take appropriate measures to limit the damage — such as having the vehicle inspected by a professional, responding to warning lights, switching off the engine, or moving the vehicle to a safe location.
When and how is the insurance paid for?
The insurance premium must be paid on the due date. Upon renewal, the annual premium is adjusted in accordance with changes in the index from the base index of the agreement. Vörður sends payment claims monthly to online banking services, or annually if the policyholder prefers to pay the premium in a single installment. It is possible to change the payment method via Vörður's online service, “My Pages.” There, policyholders can also choose to pay premiums using a credit card.
When does insurance coverage begin and how does it end?
Insurance contracts are generally valid for 12 months from the date of acceptance of the offer and issuance of the insurance, and premiums are based on the annual premium. If the insurance is not terminated within that period, it is automatically extended.
How is the insurance terminated?
The insurance can be terminated at any time during the insurance period.