You can pay your insurance with monthly payments. Payments can be divided into 3, 6, 9, or 12 months. It is also possible to make a single payment using any of the payment methods listed below.
Charged to a credit/debit card.
Contact us, and we will register your card number.
It is possible to update card numbers on My Sjóvá.
Charged to a bank account according to an agreement.
Contact us, and we will send you an electronic agreement for approval.
The due date and final payment date for the claim is the first business day of each month.
A claim is generated in online banking.
The due date is the 1st of each month, and the final payment date is the 15th of each month.
The cost for all payment distributions is based on an annual interest rate of 6.75%.
The cost is calculated into the monthly payment depending on the number of months, see table below.
There is no payment fee for claims under payment distribution.
Payment Frequency | Annual Interest Rate |
|---|---|
12 months | 3,09% |
9 months | 2,25% |
6 months | 1,41% |
3 months | 0,56% |
Single Payment | 0% |
Single payment claims - The premium period is paid with one claim.
Payment fee for single payment claims - paperless transactions: ISK 130.
Payment fee for single payment claims - transactions with paper: ISK 390.
Default interest is according to the published default interest rates of the Central Bank of Iceland.
Reminder letter / Collection warning: ISK 950.
Final warning: ISK 1,500.
Motus and Lögheimtan collect unpaid premiums on behalf of Sjóvá. Costs for collection letters are according to their fee schedule.