Refrigerated and Frozen Goods 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 Refrigerated and Frozen Goods Insurance?
The insurance covers damage that may occur to goods stored in refrigerated or frozen storage facilities.
What Is Covered?
Loss or damage due to escaping refrigerant.
Loss or damage that occurs when temperature rises suddenly due to malfunctioning coolers, power outage, or other sudden and unforeseen incidents.
What Is Not Covered?
Loss or damage to products that were already defective when they were placed in storage.
Loss or damage to goods due to prolonged storage.
Loss or damage to goods in coolers chilled with dry ice or ice cubes.
Are There Any Restrictions or Precautionary Rules?
The insured must follow Vörður’s precautionary rules.
The insured is required to keep the refrigeration or freezing system, in which the goods are stored, in proper working condition, follow the seller’s instructions for the system, and comply with laws and regulations.
In addition, they must immediately have any defects or faults in the system repaired once they become aware of them.
An approved refrigeration company must carry out technical inspections of freezer containers and issue a report at least every six months on their condition. A copy of the report must be sent to Vörður if requested.
Starter switches and power cables must be arranged so that external parties cannot cut off power to the refrigeration units.
Air circulation in the container must be active. The chart recorder in the container must be operational. Storage containers owned by the insured must have at least two thermometers, one at each end of the container.
Where Is The Insurance Valid?
The insurance is only valid on the location stated in the insurance policy certificate.
What Are The Insured's Obligations?
Provide all necessary information, whether at renewal or when making changes to the insurance.
When damage has occurred, or when events take place that could cause damage, the insured must notify Vörður without delay, and also inform the police if unlawful activity is involved.
When And How Is The Insurance Paid for?
he 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. Vördur 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 Vördur'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.