It is important to keep in touch with friends, watch your favorite show, record your run in Strava and listen to podcasts on the bus. Smart Insurance is a cover for the devices that make all this possible.
Who is Smart Insurance for?
SmartInsurance is primarily designed for young people between the ages of 18 and 25 or young people who still live with their parents.
How does Smart Insurance work?
Smart insurance is a simple insurance for the devices that matter to you, your phone, computer, bicycle, and electric scooter. It compensates for damage caused to these devices by sudden, external events.
We pay a maximum of 400,000 ISK per claim and a maximum of 1,000,000 during the insurance year (between renewals).
How is compensation paid in Smart Insurance?
The benefits, i.e., what we pay for a damaged item, depends on how old it is when the accident happens, because used items are less valuable than new ones. That's why we pay lower compensation for a six-month-old phone than a new one. It is called depreciation when the value of insured items decreases.
In the Smart Insurance, depreciations are slower than in similar insurances, which means that the benefits paid from the Smart Cover can be higher than those from traditional family and household insurances.