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      Home Contents Insurance

      Home Contents Insurance insuresunderlinehome contents and personal belongings that are intended for general domestic use. Contents Insurance covers, for example, theft, fire and water damage to household effects.

      Home contents are the personal possessions of you or your family as well as items such as furniture, ornaments, tableware and bed linen, to name a few. As a general rule, your contents are all the things that you take with you if you decide to move house.

      More About Contents Insurance

      It is important that you make a correct assessment of the real value of your home contents. This is because, in the event of damage, the compensation is based on the registered value of the contents. If there is a change in the size of your family or property, we recommend reviewing and updating the registered contents value.

      Valuable leisure equipment such as golf carts, kayaks, drones, etc. is covered under the F Plus 4 Contents Insurance . If the equipment is stored in your legal domicile it is fully insured but only partially insured if stored elsewhere.

      If some of your items are usually kept outside your home, you might want to insure them separately. This also applies to particularly valuable items, even if they are stored in the home, because the maximum insurance coverage for such items is determined as a certain percentage of the contents value. Contact us and we will advise you on how best to insure these items.

      Main Limitations to Contents Insurance:

      • The compensation amount for combined damage in the category watches and jewellery is a maximum of 5% (F Plus 1,2,3) and 10% (F Plus 4) of the contents value.
      • The compensation amount for combined damage in the category cash, securities, manuscripts, original drawings, coin and stamp collection is a maximum of 1% (F Plus 1,2,3) and 2% (F Plus 4) of the contents value.
      • The compensation amount for combined damage in the category tools, spare parts and utensils used for business purposes is a maximum of 5% of the contents value.
      • The compensation amount for combined damage in the category accessories and spare parts belonging to motor vehicles, caravans, folding campers, trailer tents or pleasure boats is a maximum of 2% of the contents value.
      • Only one set of winter and summer tires is insured for each private car.

      Example: Your registered contents value is ISK 16,000,000. Your home is broken into and watches and jewellery are stolen. The compensation amount for combined damage in the category watches and jewellery under your Contents Insurance in this case is a maximum of ISK 800,000 (F Plus 1, 2, 3) or ISK 1,600,000 (F Plus 4).

      Contents Insurance is included in all our F Plus packages. However, there is a difference in the amount of compensation, deductible amounts and the extent of protection depending on which F Plus package you choose.

      The insurance covers

      • Damage to contents due to due to fire, soot, lightning, explosions, water, steam and oil.
      • Damage to contents due to theft and robbery.
      • Damage to contents due to vandalism that is caused intentionally.
      • Damage to contents due to breakage or collapse of home contents due to incidental breakdown.
      • Damage to contents in a vehicle involved in a traffic accident.
      • Damage to laundry due to breakdown of dryer or washing machine.
      • Damage to food due to unforeseen stoppage of the refrigeration system of a chest freezer or refrigerator.
      • Damage to contents due to sudden snow load.
      • Damage to contents due to storm when the wind speed reaches 28.5 meters per second.
      • Damage to contents due to aircraft or parts falling from them.

      The insurance does not cover

      • Damage to contents caused by explosions related to construction work.
      • Damage to contents due to soot or smoke that has accumulated over a long period of time.
      • Damage to contents due to external water.
      • Damage to contents due to theft in an unoccupied and unlocked residential property.
      • Damage due to theft of contents that are left unlocked.
      • Damage to contents that are outdoors, outside the boundaries of the insured home.
      • The part of the claim that falls under the deductable.

      Coverage under the Icelandic Natural Catastrophe Insurance is also included. This insurance covers damage caused by volcanic eruptions, earthquakes, landslides, avalanches and water floods.

      Please note that the above list is not exhaustive. Further information can be found in the insurance terms for F plus 1-4.
      In case of discrepancy between this list and the insurance terms, the insurance terms applies.