Íslandsbanki travel insurance
Íslandsbanki credit cards include a variety of travel insurance coverages. If you hold a credit card from Íslandsbanki, you can contact us if you suffer a travel related damage or incident. We assess the damage and pay compensation in accordance with the card’s terms.
Íslandsbanki credit card insurance is valid for either 60 days or 90 days, depending on the card.
You do not need to pay for travel abroad with the card in order to use the card’s insurance for travel related incidents outside Iceland.
To use the card’s insurance for travel-related incidents within Iceland, you must either pay at least half of the domestic travel costs with the card, use an installment payment plan, or book accommodation in advance and provide the card number for payment. Purchases and/or bookings must be completed before you depart on your trip from your home.
Some Íslandsbanki credit cards include insurance for damage to rental cars hired abroad. Credit card rental car insurance is generally limited to basic collision damage insurance and supplementary liability insurance. Rental companies often also offer insurance packages that include various services such as roadside assistance and help with obtaining a replacement vehicle in the event of damage or breakdown. We recommend purchasing the rental company’s insurance, as it is usually more comprehensive than the coverage provided by the credit card.
If you incur damage to a rental car abroad, you should carefully consider whether to claim under your credit card insurance or the rental company’s insurance. The credit card insurance covers the deductible (excess) in the rental car insurance. The cardholder must initially pay for the damage and will be reimbursed after returning home if the claim is deemed eligible for compensation.
In certain cases, you may need to confirm to a third party that you have travel insurance. This is most commonly required by medical institutions abroad in cases of serious accidents or serious illness.
Please note that this overview of the insurance is not exhaustive. Further details can be found in the insurance terms. In the event of any discrepancy between this overview and the terms, the terms apply.
Íslandsbanki credit cards include a variety of travel insurance coverages. If you hold a credit card from Íslandsbanki, you can contact us if you suffer a travel related damage or incident. We assess the damage and pay compensation in accordance with the card’s terms.
Íslandsbanki credit card insurance is valid for either 60 days or 90 days, depending on the card.
You do not need to pay for travel abroad with the card in order to use the card’s insurance for travel related incidents outside Iceland.
To use the card’s insurance for travel-related incidents within Iceland, you must either pay at least half of the domestic travel costs with the card, use an installment payment plan, or book accommodation in advance and provide the card number for payment. Purchases and/or bookings must be completed before you depart on your trip from your home.
Some Íslandsbanki credit cards include insurance for damage to rental cars hired abroad. Credit card rental car insurance is generally limited to basic collision damage insurance and supplementary liability insurance. Rental companies often also offer insurance packages that include various services such as roadside assistance and help with obtaining a replacement vehicle in the event of damage or breakdown. We recommend purchasing the rental company’s insurance, as it is usually more comprehensive than the coverage provided by the credit card.
If you incur damage to a rental car abroad, you should carefully consider whether to claim under your credit card insurance or the rental company’s insurance. The credit card insurance covers the deductible (excess) in the rental car insurance. The cardholder must initially pay for the damage and will be reimbursed after returning home if the claim is deemed eligible for compensation.
In certain cases, you may need to confirm to a third party that you have travel insurance. This is most commonly required by medical institutions abroad in cases of serious accidents or serious illness.
Please note that this overview of the insurance is not exhaustive. Further details can be found in the insurance terms. In the event of any discrepancy between this overview and the terms, the terms apply.
The insurance covers
Trip cancellation
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Expenses for travel tickets and accommodation when you are unable to go on the trip due to specified events.
Accident during travel
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Disability compensation is paid if an accident results in permanent disability.
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Death compensation is paid if the insured dies as a result of an accident.
Medical expenses during travel abroad
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Medical expenses due to illness, accidents or death.
Travel expenses of other parties
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Travel and living expenses of a relative or friend who accompanies you home.
Reimbursement of trip
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If the trip has to be interrupted and you have to return home early due to serious illness or accident.
Trip interruption
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Necessary additional expenses for return travel to Iceland or to the country of residence if the insured has to shorten his or her stay abroad due to specified events in Iceland or in the country of residence.
Luggage and purchases
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Loss or damage to luggage due to fire, the , burglary, robbery, vandalism or transport accident.
Delayed luggage
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Compensation paid for the purchase of necessities if your baggage is not delivered to you upon arrival at your destination due to delay or mishandling.
Liability insurance
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Bodily injury or property damage suffered by a third party as a result of compensable conduct on the part of the insured.
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The following compensation items are only included with certain cards:
Hospital daily allowance
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A daily allowance is paid if you are injured or becomes ill while travelling and need to be hospitalised abroad.
Purchase protection
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Loss or damage to personal belongings paid for with the card during travel, caused by a sudden and unforeseen external event.
Travel delay
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Compensation is paid if strikes, adverse weather conditions or mechanical breakdown cause delays to public transport and this results in the insured arriving late at the destination.
Delay on the way to the airport
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Compensation is paid if you miss an international flight due to delays on the way to the airport caused by specified events.
Delays due to overbooking
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Compensation is paid if you attempt to check in for a flight you have booked but are denied boarding due to overbooking.
Car rental insurance
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Claims for damage to a rental car for which you are liable under the rental agreement due to specified events.
Supplementary liability insurance
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Liability claim that you may become liable for towards a third party, as the driver of a rental car during the rental period, provided that the other conditions of the policy are met.
The insurance does not cover
Trip cancellation
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Expenses resulting from circumstances that existed before the insurance was taken out.
Accident during travel
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Accidents that occur during participation in competitions or high-risk leisure activities.
Medical expenses during travel abroad
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Medical expenses due to illness and accidents for which you have received medical care during the six months prior to payment of the confirmation fee.
Reimbursement of trip
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If the trip lasts five days or less.
Trip interruption
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The unused portion of travel expenses or a new trip in place of the interrupted one.
Luggage and purchases
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Damage to items that does not impair their utility, or damage to suitcases or protective cases.
Delayed luggage
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Compensation is not paid for delayed luggage when you are travelling home.
Liability insurance
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Damage covered under contractual liability, or damage to items that you have on loan.
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The following compensation items are only included with certain cards:
Hospital daily allowance
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No benefit is paid for the first two days of hospitalisation.
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No compensation is paid for children under 16 years of age.
Purchase protection
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Loss or damage resulting from normal wear and tear, defects, incorrect assembly or internal breakdown, such as mechanical failures.
Travel delay
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No compensation is paid if the delay is due to your having scheduled a connection time that is shorter than the minimum connection time stipulated by the airline/airport in question and an objection has been raised to the travel booking.
Delays en route to the airport
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Delays resulting from strike action and from instructions by public authorities to stop or alter public transport.
Car rental insurance
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Loss or damage occurring while driving in areas where motor vehicles are prohibited or during motor sport competitions.
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Loss or damage resulting from use of the vehicle in breach of the terms of the rental agreement.
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.
Property insurance
Buying a property is usually the biggest investment we make in our life. It is therefore important that we make sure that the property is properly insured to minimize the financial consequences of property damage.
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
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.