Home Protection 3
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 Home Protection 3?
Home Protection 3 provides extensive and comprehensive coverage, including all the essential types of insurance needed for a home and family. It covers damage to household contents and other personal belongings, as well as accidents involving family members during their free time, while performing household tasks, or while studying. The package also includes liability insurance and, for those who wish, optional travel and trip cancellation insurance.
What Is Covered?
Loss or damage due to fire or explosion, as well as sudden sootfall from heating devices.
Loss or damage resulting from water, oil or other liquid that suddenly and unexpectedly flows from the plumbing system in the building, but not from drains or gutters.
Loss or damage due to a burglary in a locked building or vehicle Unlocked buildings in certain cases, see terms and conditions for more details.
Loss or damage due to surface water, due to a sudden downpour or thawing.
Theft of bicycles, electric bicycles, light motorcycles in Category I as defined in the Traffic Act, prams and pushchairs.
Theft from primary schools but not, however, cash, securities, jewelry, original manuscripts, original drawings, coin and stamp collections.
Loss or damage caused by sudden and unforeseeable events, which are not liable for compensation according to traditional household contents insurance.
Compensation in the event that the insured has become liable and the injured party does not share culpability or share liability.
The costs of the insured in the event a tort claim has been lodged against them.
Compensates loss or damage caused by the insured's child under the age of 10, regardless of liability.
Accidents that occur during common sporting activities.
Broken teeth due to accidents.
Temporary loss of 50% or more of work capability.
Permanent medical disability.
Costs incurred in obtaining a medical certificate or disability assessment.
Death benefits due to an accident.
Per diem payments if the person is aged 16-67.
If illness or an accident causes the child of the insured, aged 18 or younger, to stay in a hospital on medical advice for a period of 5 consecutive days or longer. Benefits are paid to one guardian of the child.
Disputes affecting the insured as an individual, which are submitted to the courts for resolution and are resolved with a judgement, ruling or settlement.
Costs arising from reopening cases.
Incidental costs if the insured person needs to change their circumstances due to violence in an intimate relationship.
Reimburses documented expenses for specialist support upon presentation of receipts, if the insured has suffered psychological trauma or mental distress as a result of the following events:
Burglary at the insured's home.
Significant property damage occurs at the insured's home.
The insured is robbed of insured belongings through physical violence or immediate threat thereof.
A person covered by the policy is involved in a serious accident.
Violence by a spouse or cohabiting partner.
Prepaid non-refundable travel costs, up to the insurance amount, when the insured cannot travel due to e.g. accident, illness, or quarantine confirmed by a medical certificate.
Cancellation when the insured cannot travel due to a serious accident or sudden illness of a spouse, children, grandchildren or other related parties.
When the insured cannot travel due to substantial property damage to the insured person’s home or private business.
Cancellation due to disruption leading to a delay of at least 12 hours in the scheduled departure of a public means of transport used by the insured on travel abroad, according to the itinerary.
Cancellation due to the death of the insured, spouse, children or other closely related parties.
Unavoidable costs resulting from the insured being injured, becoming ill or dying while travelling abroad, e.g. hospital costs or additional costs due to illness, e.g. hotel expenses.
Travel expenses, e.g. medical transport costs on medical advice, flight changes and/or ambulance flights.
Additional costs for a return trip to Iceland due to serious illness or the death of a close relative.
Transport of the deceased.
Loss or damage to the insured caused by fire, burglary, theft, transportation accidents, as well as if the luggage is completely lost during transportation.
Loss or damage to the insured due to burglary from locked residences, vehicles and boats.
Loss or damage due to delays in the delivery of luggage to a destination in a scheduled or chartered flight during a trip lasting for up to 92 consecutive days.
Loss or damage due to the purchase of necessities for each insured party aged 16 and older if they do not receive their checked-in baggage within 8 hours.
Loss or damage due to the purchase of necessities for children under 16 years of age if they are travelling without a parent or legal guardian.
Accidents occurring during participation in competitive sports.
Dental injuries caused by accidents during competitive sports.
Temporary loss of working capacity of 50% or more due to participation in competitive sports.
Permanent medical disability resulting from participation in competitive sports.
Costs related to medical certificates and disability assessment.
Death benefits due to participation in competitive sports.
Daily compensation.
What Is Not Covered?
Loss or damage to motor vehicles, caravans and camper vans.
Loss or damage from water from external sources, such as groundwater, precipitation, flooding or damage due to water from gutters.
Loss or damage to household contents due to change of residence.
Loss or damage of animals.
Loss or damage to goods intended for sale.
Loss or damage resulting from work with explosives during construction.
An item that is lost, forgotten or left in public.
Loss or damage caused by normal wear and tear, insufficient maintenance or manufacturing defect.
Loss or damage due to theft.
Loss or damage caused by animals
Loss or damage that occurs because of occupation, whether in the insured’s own business enterprise or work in the employment of another party.
Loss or damage to items that the insured has on loan, for rent or in storage.
Loss or damage caused by the insured parties to each other.
Accidents that occur at work, or when travelling to and from work.
Accidents in high-risk sports, such as bungee jumping, rappelling, rock climbing, mountain climbing and ice climbing.
Accidents that occur when mountain hiking of any form if the height of the mountain is greater than 4,000 m above sea level.
Accidents that persons 16 years of age and older suffer during competitions or training in preparation for competitions.
Accidents occurring in vehicle sports.
Accidents that persons 16 years of age and older suffer in boxing, martial arts or self-defense sports.
Accidents caused by the consumption of alcohol, narcotics, or other recreational drugs.
Spinal disc herniation (”slipped disc”), lumbago, arthritis, osteoarthritis or other rheumatic diseases.
Illnesses that pre-existed at birth or were diagnosed within 90 days of birth.
Illnesses that pre-existed when the insurance policy was purchased.
Accidents that occurred before the insurance was purchased.
Cases related to divorce or legal separation.
Cases concerning child custody or visitation rights.
Cases in connection with the insured’s occupation or performance in an official capacity.
Cases where the insured becomes liable for another person.
Cases concerning financial measures that are unusual or on an exceptionally large scale for an individual.
Trauma caused by events that occurred before the insurance took effect.
Difficulties not related to a specific insured loss covered by the policy.
Cancellation resulting from any kind of illness or disease that was pre-existing prior to the purchase of the insurance policy or when the confirmation fee for the trip was paid.
Cancellation due to diseases occurring during the ninth (9) month of pregnancy.
Cancellation due to self-inflicted injuries or damage occurred when the insured has unnecessarily put themselves at risk.
Expenses that are the responsibility of the travel agency, airline, or accommodation provider.
Loss resulting from the insured's failure to notify the travel agency or airline of the need to cancel the trip.
Loss resulting from financial difficulties or bankruptcy of the travel agency or other entities responsible for passenger transport.
Medical costs occurring during the ninth (9) month of pregnancy, during childbirth or abortion.
Medical costs due to ongoing medical costs.
Medication costs for drugs that the insured has been using on a regular basis before the trip commenced.
Cash, travel tickets, traveller’s cheques, cheques, bonds or other securities.
Fragile items.
Loss or damage caused by moths, vermin, atmospheric conditions, weather or normal wear and tear.
Bicycles stored outdoors.
Damages to suitcases.
If there are delays in luggage on the way home to Iceland.
If the time between connecting flights is shorter than the minimum of the relevant airline/airport.
Accidents occurring while the insured receives payment to participate in the sport.
Accidents during high-risk sports such as bungee jumping, rappelling, rock, mountain, or ice climbing.
Accidents occurring during mountain hiking at altitudes over 4,000 meters above sea level.
Accidents occurring in motor sports.
Accidents occurring in boxing, wrestling, or martial arts.
Herniated discs, sciatica, arthritis, osteoarthritis, or other rheumatic conditions.
Are There Any Restrictions or Precautionary Rules?
The insured is required to comply with Vördur's precautionary rules.
The insured is required, in unheated buildings, to ensure that the water supply is shut off and that water pipes and fixed appliances are drained when there is a risk of frost.
The insured is also obligated, as long as it is within their control, to ensure that drains are in proper condition by removing snow or ice.
Residential property, vehicles, and other insured locations must be securely locked.
Windows must be closed and latched, and all access points secured in a way that prevents unauthorized access to valuables.
The insured shall ensure that the use of electrical appliances complies with the manufacturer's instructions.
Additional precautionary rules can be found in the terms and conditions of the insurance policy.
Where Is The Insurance Valid?
Varies depending on which element of the insurance is covered. In general, the insurance is valid in Iceland and on trips abroad as applicable, for up to 92 days from the date of departure from Iceland. Further information on the scope of coverage can be found in the terms and conditions of the insurance. Further information about the scope of coverage can be found in the insurance terms and conditions.
What Are The Insured's Obligations?
Provide all necessary information, whether when renewing or changing the insurance or when reporting a claim.
Report a claim at the earliest opportunity and no later than within one year of the claim event.
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.