Limited Collision Insurance
Limited collision insurance for vehicles may, for example, be suitable for tractors used in agricultural work.
It covers, among other things, damage caused by the rollover of tractors in agriculture and the agricultural equipment permanently attached to them.
Information regarding the insurance
What type of insurance is this?
Limited Collision Insurance is a combined vehicle insurance that includes fire insurance, windshield insurance, theft insurance, and rollover and fall insurance.
What is covered? | What is not covered? |
|---|---|
| The insurance pays benefits: | The insurance does not cover damages: |
If the vehicle is damaged in a fire. | If the vehicle is used for a different kind of driving than listed in the policy. |
If the vehicle is stolen. | If the vehicle is damaged by an ash- or sandstorm. |
If the vehicle rolls over and falls (valid only for tractors used in agriculture). | |
If windows in the vehicle are broken. |
Any limitations on what the insurance covers?
The insurance does not cover damages caused by a driving in a race, unless otherwise agreed upon.
Where is the insurance valid?
The insurance is valid in Iceland, unless otherwise specifically agreed upon.
What responsibilities do I have?
You must report any damage as soon as possible and no later than one year from the date of the damage.
You must ensure that all the information in the insurance policy is accurate.
You must inform us of any changes in your address, telephone number, and email address.
You must follow all the precautions in the terms of the insurance policy, e.g. making sure the vehicle is locked when not in use and the keys or other opening mechanisms are stored in a safe place.
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.
Corporate distribution, where the premium can be paid in monthly payments.
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 can cancel the 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.