Are there any restrictions or precautionary rules? - Interest Insurance for Fishing vessels larger than 100 gross tons

Are There Any Restrictions or Precautionary Rules? 

Where Is The Insurance Valid? - Marine Insurance - 40 and 70 degrees

Varðar is released from liability if the vessel sails south of 40° north latitude or north of 70° north latitude during the period from November 16 to May 15.

Where Is The Insurance Valid?

What are the insured's obligations? - Interest Insurance for Fishing vessels larger than 100 gross tons

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

Interest insurance compensates the insurable interest that the policyholder wants to insure. In this insurance, the insured is not the vessel, but the shipowner's interest in the operation of the vessel. 

Adds insurable interests that the insured wishes to insure in the event of a total loss to a ship.

What Is Covered?

What Is Not Covered?

Interest Insurance of Fishing Vessels 

Marine Insurance

Terms and Conditions

Interest Insurance of Fishing Vessels Larger than 100 Gross Tons

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

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