Insurances

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. 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; Sjóvá-Almennar Insurance Ltd. (Sjóvá-Almennar tryggingar hf.).

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 our terms and conditions. The financial responsibility is limited to the deductible amount.

The maximum deductible amount for CDW is 2.700 EUR for standard vehicles and 3.700 EUR for passenger vans, , premium cars, luxury cars and campervans and motorhomes (Class codes: L***, P***, *VMR, *VMD, *VMN, *HMR, *HMN *RMR, *RMN).

The gold insurance includes all our insurances: SCDW, GP, TP, TI, and SAAP.

Gravel protection covers the vehicle against damages to the windscreen and paint on the bumpers, hood and doors caused by a passing vehicle. Windscreen damages caused by gravel have the liability of 25.000 ISK.

TP reduces the renter’s costs resulting from theft or burglary of the vehicle. The insurance does not cover the personal property of the renter or passenger(s) in the rental vehicle resulting from theft or burglary. When TP is not taken, liability can amount up to the full value of the vehicle resulting from theft. 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 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.

Platinum Insurance - ZERO Excess and ZERO Deposit
The platinum insurance 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 Platinum Insurance and we only need your card number on file for missing fuel, parking fines etc. Both debit cards and credit cards that support authorization-only transactions are accepted with our Platinum Insurance.

Super Collision damage Waiver (SCDW) 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.

For passenger vans, campervans and motorhomes (Class codes: P***, *VMR, *WMD, *VAR, *HMR, *HAR, *RMR and *RAR). deductible amount is 2.700 EUR. 

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.