Insurances

Local value added tax (VAT) 24 % is included in all prices.
 

Insurances included with every rental

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 and for material damages 175 million ISK.

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 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.

Theft Waiver* - Included

Theft Waiver (TW) reduces the Lessee's financial responsibility for loss or theft of the vehicle to the deductible amount. The maximum deductible amount for TW is 2.900 EUR for all vehicle groups.

 

Additional Insurances

Gravel Protection (GP) - € 9 per day - POPULAR

Gravel Protection (GP) fully covers damage to front windshield and minor damage to paintwork and lights of the rented vehicle due to gravel or rocks thrown from other vehicles when passing them. This is limited to front windshield, front bumper, hood and front lights. Driver’s liability is taken to zero when this occurs.

GP is available for additional 9 EUR per day.

Super Collision Damage Waiver (SCDW)* - € 19 per day

Super Collision Damage Waiver (SCDW) reduces the Lessee's financial responsibility to a part of the vehicle, in case of damage to the vehicle, to the deductible amount. The maximum deductible amount for SCDW is 700 EUR for all vehicle groups.

SCDW is available for additional 19 EUR per day.

Sand and Ash Protection (SAP) - € 9 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.

SAP is available for additional 9 EUR per day.

 

Insurance Packages

 

PACKAGE 1 - (SCDW+GP) - € 23 per day - MOST POPULAR

 

PACKAGE 2 - (SCDW+GP+SAP) - € 29 per day 

 

Insurance Limitations and Exclusions

* For limitations and exclusions please refer to article 4 and 6 in the Rental Agreement.