Additional fire insurance
This insurance is supplementary to the mandatory fire insurance for real estate and is intended to increase the insured amount when the property is considered to be more valuable than its official fire insurance valuation indicates. If you believe that the fire insurance valuation of your property does not reflect the cost of rebuilding after fire damage, we recommend purchasing additional fire insurance. This insurance is only available to those who hold the mandatory fire insurance with VÍS.
Please send us an inquiry if you want a quote for additional fire insurance.
If you have made improvements to your property or added extensions, we encourage you to request a reassessment of the fire insurance valuation from the Icelandic Housing and Construction Authority. Improvements may include replacing fixtures, upgrading insulation, cladding, or flooring, or adding features such as windbreaks, decks, or hot tubs.
When do we recommend purchasing additional fire insurance?
If you have already requested a reassessment of the fire insurance valuation but are awaiting the results, it is advisable to have supplementary fire insurance in place during the interim.
If you believe the fire insurance valuation - even after reassessment - is too low and does not reflect the cost of rebuilding your property, we recommend additional fire insurance.
The insured amount of the additional fire insurance is added to the valuation provided by the mandatory fire insurance for real estate. It is important to note that the insured amount is not proof of the property's value, and the total compensation from both the mandatory and additional fire insurance will never exceed the calculated reconstruction cost of the property plus cleanup expenses.
Reconstruction costs can vary between properties, regions, and parts of the country, making it difficult to advise on an exact insured amount. Use our calculator to get an indication of whether you need additional fire insurance!
If you have made improvements to your property or added extensions, we encourage you to request a reassessment of the fire insurance valuation from the Icelandic Housing and Construction Authority. Improvements may include replacing fixtures, upgrading insulation, cladding, or flooring, or adding features such as windbreaks, decks, or hot tubs.
When do we recommend purchasing additional fire insurance?
If you have already requested a reassessment of the fire insurance valuation but are awaiting the results, it is advisable to have supplementary fire insurance in place during the interim.
If you believe the fire insurance valuation - even after reassessment - is too low and does not reflect the cost of rebuilding your property, we recommend additional fire insurance.
The insured amount of the additional fire insurance is added to the valuation provided by the mandatory fire insurance for real estate. It is important to note that the insured amount is not proof of the property's value, and the total compensation from both the mandatory and additional fire insurance will never exceed the calculated reconstruction cost of the property plus cleanup expenses.
Reconstruction costs can vary between properties, regions, and parts of the country, making it difficult to advise on an exact insured amount. Use our calculator to get an indication of whether you need additional fire insurance!
The insurance covers
-
Fire damage.
-
Damage caused by sudden accumulation of soot.
-
Damage caused by fall of aircraft on the property.
-
Damage caused by firefighting and rescue operations to avoid or limit damage.
The insurance does not cover
-
Damage caused by items burning or melting if there is no fire.
-
Damage from soot or smoke that has accumulated gradually. For example, soot from a chimney or candles.
-
Indirect damage due to fire, including operating loss, delay in production or delivery of goods, loss of rental income etc.
-
The cost of cleaning up waste or toxins in the environment or soil following an insured event.
Please note that the information about the insurance is not exhaustive. More detailed information can be found in the insurance terms.
In case of a discrepancy between this information and the insurance terms, the insurance terms apply.
Insurance terms and other information
The insurance terms is your contract with VÍS. It is important to thoroughly read the terms and understand what is covered and what is not, before purchasing the insurance.
Other insurance
Family and home contents insurance
What we all have in common is that we can encounter unexpected events in life that cause damage to possessions or accidents to people. Therefore, it is important that you have appropriate coverage for your family and your belongings.
Vehicle insurance
All of us can make mistakes while driving or find ourselves in a situation that results in damage. Therefore, it is important to have good motor vehicle insurance.
Life and health insurance
No one expects to lose their health or get into a serious accident, but the fact is that it can happen to all of us. With life and health insurance, you reduce the financial consequences of damage to your health
Travel insurance
Are you planning a trip? Whether you are travelling for pleasure, study, work or other reasons, we recommend that you check whether you have travel insurance that suits you.
Animal insurance
Animals need insurance just like any other family member. We have extensive experience in insuring animals and offer several types of animal insurance for horses, dogs and cats that you can combine according to your needs.