Payment methods and costs

You can choose to pay your insurance premiums either by receiving a payment request at your bank or by credit card. You can also choose whether to pay in a single installment or spread the payments over the year.

Sign in and change your payment method, adjust your payment schedule, and update your credit card details.

Cost of instal­ment payments

Payment frequency

Individuals in bronze, silver, gold and diamond tiers. Companies*

Individuals in copper tier and non-member**

Single payment

0%

0%

3 months

0.58%

0.96%

6 months

1.44%

2.40%

9 months

2.30%

3.83%

12 months

3.16%

5.27%

*Monthly interest cost. Based on 6.9% annual interest.

**Monthly interest cost. Based on 11.5% annual interest.

The cost in instalment payments is calculated as a percentage of the total premium.

Notification and payment fees

Automatic credit card charge

ISK 0

Online banking payment request

ISK 190

Paper payment slip

ISK 390

This fee schedule is valid from 1 November 2022

Collection costs

Penalty interest is charged in accordance with penalty interest rates published by the Central Bank of Iceland.

Collection process begins when an invoice is five days overdue.

Motus and Lögheimtan collect overdue premiums for VÍS. The cost of collection letters is in accordance with the price schedule of Motus and Lögheimtan.

Frequently asked questions

Please contact us or visit our offices if you need more information — we are happy to assist you.