Are There Any Restrictions or Precautionary Rules? - Home Builder's Insurance

Are There Any Restrictions or Precautionary Rules? 

Where Is The Insurance Valid? - Home Builder's Insurance

The insurance is valid only at the location specified on the insurance certificate or renewal receipt. However, the accident insurance also applies on the direct route between the home and the construction site and during work directly related to the construction project, even if such work takes place outside the construction site. 

Where Is The Insurance Valid?

What are the insured's obligations? - Home Builder's Insurance

What Are The Insured's Obligations?

When and how is the insurance paid for? - General

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 and how is the insurance paid for?

When does insurance coverage begin and how does it end? - General

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. 

When does insurance coverage begin and how does it end?

How is the insurance terminated? - General 

The insurance can be terminated at any time during the insurance period. 

How is the insurance terminated?

Information Document

Home Builder’s Insurance provides broad and comprehensive coverage for individuals constructing a home who have appointed a certified construction manager and/or responsible contractors to oversee the building process. It applies to residential buildings or parts of buildings under construction and covers loss or damage to construction materials, tools, scaffolding, and worksite cabins located at the construction site. 

Extensive and comprehensive protection for those with property under construction.

What Is Covered?

Covers accidents occurring on the construction site. 

Tryggingin bætir ekki

Accident Insurance

Covers legal liability of the insured as the owner of the building, if the liability arises from damage to persons or property.  

Pays compensation if the owner of the property is held liable for damage or injury. 

What Is Not Covered?

Property Owner's Liability Insurance 

Covers loss or damage to the property due to events such as leakage, storms, or burglary. 

Property Insurance for Building Under Construction

Home Builder's Insurance

Property Insurance

Terms and Conditions

Vörður operates according to the various policies and rules that can be found here on the website.

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Through active prevention efforts, we minimize the likelihood of accidents. When setbacks occur, we stand firmly behind our customers and compensate for their losses.

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Vörður board of insurances

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Vörður aims to offer customers appropriate insurance coverage at competitive prices. The company emphasizes simple and convenient insurance transactions and personal service.

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The key to the successful operation of Vörður is the people who work there. We emphasize job satisfaction, equality, a good working environment, targeted education and training of employees, and a fun workplace where every individual has an impact and makes a difference.

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About Vörður

We focus on simple and convenient insurance services with customer satisfaction as our guiding principle, and when setbacks occur, we stand with our customers.

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