Are there any restrictions or precautionary rules? - Comprehensive Insurance Fishing Vessels

Are There Any Restrictions or Precautionary Rules? 

Where Is The Insurance Valid? - Comprehensive Insurance Fishing Vessles under 100 t

The insurance only applies to the insured vessel within Iceland’s exclusive fishing zone, except in cases of specific voyages to ports in Western Europe.

Where Is The Insurance Valid?

What are the insured's obligations? - Comprehensive Insurance Fishing Vessels

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

Compensates total and partial loss of a fishing vessel under 100 tonnes and loss of its fixtures. The insurance also compensates for loss or damage caused by the ship through a collision, and loss or damage caused in other ways due to mistakes in its operation. 

Compensates total and partial loss of a fishing vessel under 100 tonnes and loss of its fixtures. 

What Is Covered?

What Is Not Covered?

Comprehensive Insurance of Fishing Vessels Under 100 Tonnes 

Marine 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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