Insurances

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

Insurance Packages

GOLD Insurance Package - (SCDW+GP+TP+TI+SAAP)
€ 29 per day for standard vehicles.
€ 39 per day for other vehicles.**

PLATINUM Insurance Package - (SCDW+GP+TP+TI+SAP)  with ZERO Excess 
€ 39 per day for standard vehicles.
€ 55 per day for other vehicles.**

The Platinium Insurance Package takes your risk in case of a collision to ZERO!
Includes all our insurances: SCDW with self-risk of ZERO, GP with self-risk of ZERO, TP, TI, and SAAP. Debit cards are accepted with our Platinium Package and we only need your card number on file for missing fuel, parking fines etc.

Additional Insurances

Gravel Protection (GP)*
€ 11 per day for standard vehicles.
€ 15 per day for other vehicles.**

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

Super Collision Damage Waiver (SCDW)*
€ 25 per day for standard vehicles.
€ 35 per day for other vehicles.**

Super Collision Damage Waiver (SCDW) reduces the renter’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 800 EUR for standard vehicles and 2.700 EUR for passenger vans, campervans and motorhomes (Class codes: *VMR, *VAR, *HMR, *HAR, *RMR and *RAR).

Sand and Ash Protection (SAAP)*
€ 9 per day for standard vehicles.
€ 13 per day for other vehicles.**

Sand and Ash Protection (SAAP) covers damage to the vehicle resulting from external objects such as; ash particles, sand or small rocks being blown into the vehicle in high winds. The policy covers damage to paint, glass, lights, plastic parts, tires and rims. The maximum deductible amount for SAAP is 2.700 EUR for all vehicle groups.

Tire Insurance (TI)*
€ 8 per day for standard vehicles.
€ 13 per day for other vehicles.**

The Tire Insurance (TI) fully covers the cost of tire repair or replacement in case of damage to the tires. Please note that this does not cover the transport of the vehicle to a tire shop or serviced roadside assistance in case of tire damage.

Theft Protection (TP)*
€ 5 per day for standard vehicles.
€ 7 per day for other vehicles.**

Theft Protection (TP) reduces the renter's costs resulting from theft or burglary of the vehicle to the deductible amount. The renter/driver is responsible for reporting theft and burglary to the rental company and the police. The maximum deductible amount for TP is 2.700 EUR for all vehicle groups. The insurance does not cover the personal property of the renter or passenger(s) in the rental vehicle resulting from theft or burglary. 

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 the vehicle. This insurance compensates for damage caused by the rented vehicle to a Third Party. 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 a 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; Sjóvá-Almennar Insurance Ltd. (Sjóvá-Almennar tryggingar hf.).

Collision Damage Waiver (CDW)* - Included

CDW reduces the renter’s financial responsibility to a part, in case of damage to the vehicle, unless the damage is the result of theft, burglary or instances listed in articles 6.5.1 – 6.5.15 in this policy. The financial responsibility is limited to the deductible amount. The maximum deductible amount for CDW is 2.700 EUR for standard vehicles and campervans and 3.700 EUR for passenger vans(all 6+ passengers vehicles) and motorhomes (Class codes: PFAR, *VMR, *VAR, *HMR and *HAR).

CDW is mandatory unless the renter provides written proof from an insurance company, specially stating in English 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 the renter’s own responsibility. If CDW is not accepted, the renter will be held fully responsible for the full value of the vehicle and extras in case of third-party insurance is not valid.

Insurance Limitations and Exclusions

* For limitations and exclusions please refer to articles 4 and 6 in the Rental Agreement.
** Other vehicles: Passenger vans, campervans and motorhomes (Class codes: *VMR, *VAR, *HMR, *HAR, *RMR and *RAR).