Family Protection 2
If you want to have good household contents insurance and accident insurance for leisure time, Family Protection 2 is our most popular home insurance, as it suits the needs of most people.
Family Protection 2 consists of seven types of insurance, including household contents insurance, comprehensive household contents insurance, third-party liability insurance, and accident insurance for leisure time.
Information regarding the insurance
What type of insurance is this?
Family Protection 2 is a combined insurance plan for your family and the contents of your home. It includes home contents insurance, liability insurance, comprehensive contents insurance, leisure time accident insurance, hospitalization insurance, credit card insurance, and legal assistance insurance. Travel insurance is optional in Family Protection 2.
What is covered? | What is not covered? |
|---|---|
| Home contents insurance covers damages: | Home contents insurance does not cover damages: |
Caused by fire. | Caused by fire, if what is damaged is part of, the property itself, for example, doors, fixtures, and floors. |
Caused by water leaking from pipes in the building. | Caused by theft from an apartment left unlocked and empty. |
Caused by burglary, robbery, or theft. | Caused by water being pushed out of sewer pipes unless it is caused by broken or clogged pipes inside the home. |
If food in refrigerators or freezers is damaged due to malfunction or power outage. | |
| Liability insurance covers: | Liability insurance does not cover: |
Damages you may be legally required to pay. | Liability arising from your work. |
Costs you have to pay for damage caused by your children younger than 10, even though they are not legally liable due to their age. | Damages to items you have rented or borrowed. |
| Comprehensive contents insurance covers damages: | Comprehensive contents insurance does not cover damage: |
Caused by sudden, external events. | Caused by production- or appearance defects |
| Leisure accident insurance covers costs from: | Leisure accident insurance does not cover costs from: |
Accidents in your leisure time. | Accidents that happen while mountain climbing or diving. |
Accidents that happen while competing in sports where the public can participate without any minimum requirements of competence or skill. | Accidents that happen at work or while traveling between workplace and home. |
| Hospitalization insurance covers: | Hospitalization insurance does not cover: |
Hospitalization costs for anyone covered by the insurance if they need to stay in a hospital for more than five consecutive days due to an illness or accident. | Hospitalization costs due to congenital disease or mental illness. |
| Credit card insurance covers damages: | Credit card insurance does not cover damages: |
If a credit card is lost and fraudulently used by an unauthorized party. | Caused by not following the credit card company‘s rules, e.g. storing the PIN number with the credit card. |
| Legal expenses insurance covers legal expenses: | Legal expenses insurance does not cover legal expenses: |
For civil disputes being litigated in Icelandic courts. | For criminal cases. |
For divorce, separation, and disputes over custody of children and/or rights of access. | |
For matters involving the insured as the owner and operator of a motor vehicle | |
| Travel insurance (optional insurance) covers: | Travel insurance does not cover: |
Medical expenses incurred abroad due to illness or accident, e.g. cost of medical care or hospitalization. | Medical expenses due to an illness or accident the insured has been treated for before traveling abroad. |
Damage to luggage. | Damage to luggage due to insufficient or poor packaging. |
Costs incurred if the insured can not take a planned trip due to an illness or accident. | Absences due to an illness the insured party was being treated for when the confirmation fee was paid. |
Any limitations on what the insurance covers?
The insurance policy does not cover damages caused by natural disasters or damages caused by war, terrorism, pollution, or other similar events.
Where is the insurance valid?
Home contents insurance is valid in your home which is listed on the insurance policy..
Liability insurance is valid in Iceland and while traveling abroad for up to three months.
Leisure accident insurance and hospitalization insurance are valid anywhere in the world.
Credit card insurance is valid in Iceland and while traveling abroad.
Legal expenses insurance is valid in the Nordic countries and while traveling outside the Nordics when the dispute concerns the insured party as a tourist.
Travel insurance is valid while traveling abroad for up to 92 days from the start of the trip until you return to Iceland.
What responsibilities do I have?
You must report damages as soon as possible and no later than one year from the date of the damage.
You must ensure that all the information on the insurance policy is accurate.
You must inform us of any changes to your home address, phone number, and email address.
You are required to follow the precautions in the insurance policy terms, such as making sure that doors, windows, and other openings into the insured area are securely locked and the keys stored in such a way that unauthorized individuals can not access them.
When and how do I pay the premium?
The premium must be paid on the due date. When the insurance policy is issued or renewed an electronic claim is created in your online bank. You have the option to distribute the premium payments by:
Credit card payment, where the premium is charged monthly to a credit or debit card.
Direct payment, where your bank account is debited monthly.
When does the insurance start and when does it end?
The insurance policy takes effect when an offer is accepted and is renewed annually until it is canceled.
How do I cancel the insurance?
Individuals and companies with fewer than five full-time positions may cancel their insurance at any time and it will expire at the end of the following month after the cancellation is received. Other companies can cancel their insurance one month in advance before the end of the insurance period.
The cancellation must be in writing, for example with an electronic signature.