Are There Any Restrictions or Precautionary Rules? - Small Boat Insurance

Are There Any Restrictions or Precautionary Rules? 

Where is the insurance valid?  - Small Boat Insurance

The insurance is valid within Iceland’s fishing jurisdiction.

Where is the insurance valid? 

What are the insured's obligations? - Small Boat 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

Small boat insurance is for individuals and companies that own small boats that are either used for private use or for commercial fishing. 

The insurance compensates damage that occurs to a boat specified on the certificate, its fixtures, provisions and supplies. The insurance also compensates for liable damages, if there is a mistake in the management of the boat that leads to a collision and damage to other people's property. The boat's engine is also insured, if this is stated on the certificate. 

Compensates damage that occurs to a boat specified on the certificate, its fixtures, provisions and supplies.

What Is Covered?

What Is Not Covered?

Comprehensive Insurance 

Liability Insurance  

The insurance policy will compensate 

The insurance policy does not compensate 

Vélatrygging

Small Boat Insurance (LS)

Marine Insurance

Terms and Conditions

Small Boat Insurance

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

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The agreement between the Icelandic Small Boat Owners Association and Vörður guarantees members access to the best insurance and service options available at any given time. 

Vörður's corporate services assist in assessing insurance needs and find the most cost-effective insurance solution that is tailored to your interests.

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