Travel insurance for Sparisjóðurinn credit cards
Sparisjóðurinn credit cards include a variety of travel insurance coverages. If you hold a credit card from Sparisjóðurinn, 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.
- 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.
- Sparisjóðurinn credit card insurance is valid for either 60 days or 90 days, depending on the card.
- Some Sparisjóðurinn 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.
- Travel insurance coverage on Íslandsbanki credit cards varies by card type. You can review the protection and compensation limits included with each card in the summary table below.
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.