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Insurances and reimbursement programs
Local value added tax (VAT) 24 % is included in all prices.
Third Party Liability Insurance (TPL)* - Included
When renting one of the Lessor´s vehicles the Lessee is covered by a mandatory Third Party Liability Insurance (TPL) stipulated by Icelandic law consisting of:
1.Statutory liability insurance of vehicle.
This insurance compensates for damage caused by the rented vehicle to a Third Party, with a deductible of 50.000 ISK in each instance of loss. For each instance of loss the coverage limit for personal injuries is 1.000 million ISK (approx. 60 million EUR ) and for material damages 175 million ISK (approx. 1 million EUR).
2.Statutory accident insurance of driver and owner.
This insurance compensates the driver when operating the rented vehicle for bodily damage with coverage limit of 75 million ISK (approx. 450.000 EUR) for any insurance incident.
Please note: Neither unauthorized additional drivers nor passengers are compensated by TPL.
For more details see the Mandatory Vehicle Insurance Terms provided by FairCar's insurance provider; VIS Insurance Ltd. (Vátryggingafélag Íslands hf.).
Collision Damage Waiver (CDW)* - Included
Collision Damage Waiver (CDW) reduces the Lessee's financial responsibility to a part, in case of damage to the vehicle. The financial responsibility is limited to the deductible amount.
The maximum deductible amount for CDW is 2.900 EUR for all vehicle groups.
Collision Damage Waiver (CDW) is mandatory unless Lessee provides written proof from an insurance company, specially stating that coverage of collision insurance is effective in Iceland and valid for the duration of the rental agreement. Usage of personal third party insurance is always on Lessee's own responsibility. If CDW (see article 6.4) is not accepted, Lessee will be held fully reliable for the full value of the vehicle and extras in case of third party insurance is not valid.
ZERO Excess Damage Waiver (ZEDW)** - from € 4,99 per day
ZERO Excess Damage Waiver (ZEDW) is a third party insurance covers the Lessee's excess on damage and theft on our CDW and reduces the financial responsibility to zero.
ZEDW is available from 4,99 EUR per day, payable at the rental desk, not included in the total amount when booking the vehicle.***
We will help you purchase the insurance upon arrival, price varies depending on your home of residence and length of rental.
What's covered? (Features and benefits)
- Excess on damage and theft
- Authorized additional drivers covered
Gravel Protection (GP)
Gravel Protection (GP) is a feature included and covers all damage to windshield, windows, lights, undercarriage and paintwork of the rented vehicle due to gravel or rocks.
Theft Waiver (TW)
Theft Waiver (TW) is a feature included for loss or theft of the vehicle.
Sand and Ash Protection (SAP) - € 10 per day
Sand and Ash Protection (SAP) reduces the Lessee's financial responsibility for damages caused by erosion or ash, which can for instance damage the paint on vehicles permanently, to the deductible amount.
The maximum deductible amount for SAP is 2.900 EUR for all vehicle groups.
* For limitations and exclusions please refer to article 4 and 6 in the Rental Agreement.
** ZEDW is not valid for few countries, for example Belarus, Ukraine and Russia. FairCar cannot guaranteed that this insurance is valid for lessee's country at the point of vehicle pickup. Please contact us via mail in advance to make sure this insurance is valid for your country.
*** Price for ZEDW on campervans is always slightly higher and have normally deductible amount of 100 GBP and limitation in damage cost of 1000 GBP for a single incident and up to 2.000 GBP for a series of incidents. This can vary from one insurance company to another.