Smart Insurance

It can be expensive if your phone, smartwatch, or laptop gets damaged and needs repairs or replacement.

Smart Insurance is designed for those aged 18–25 who still live at home. It provides coverage for these valuable devices, often offering better protection than traditional household contents insurance.

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About the insurance
Frequently Asked Questions
Information
Related pages

Smart Insurance is a simple insurance that covers smart devices, computers, bicycles, and electric scooters. This insurance is designed for young people living with their parents, and the deductible is lower than in standard home insurance policies, which means that the compensation you receive for damages can be higher.

Why should I buy Smart Insurance?

What is covered by Smart Insurance?

How much does Smart Insurance cost?

Will I receive a new phone if mine breaks?

Can Smart Insurance be bought for someone under 18?

What is covered?	What is not covered?
The insurance covers:	The insurance does not cover:
Damage due to sudden, external events. Theft from the home.	Wear and tear from normal use. Theft from anywhere but the home, unless it involves a burglary.

The insurance does not cover damage that only causes appearance defects but does not impair the item´s usefulness.

Smart insurance is valid in Iceland and while travelling abroad for up to 90 days.

You must report any damage as soon as possible and no later than one year from the date of the damage.
You must ensure that all the information in the insurance policy is accurate.
You must inform us of any changes in your address, telephone number, and email address.
You must follow all the precautions in the terms of the insurance policy.

The premium must be paid on the due date. When the insurance policy is issued or renewed an electronic claim is created in your online bank. You have the option to distribute the premium payments by:

Credit card payment, where the premium is charged monthly to a credit or debit card.
Direct payment, where your bank account is debited monthly.

The insurance policy takes effect when an offer is accepted and is renewed annually until it is cancelled.

Individuals and companies with fewer than five full-time positions can cancel the insurance at any time and it will expire at the end of the following month after the cancellation is received. Other companies can cancel their insurance one month in advance before the end of the insurance period.
The cancellation must be in writing, for example with an electronic signature.

Download information sheet

Download terms

If you have insurance with us, you can view the terms on My Sjóvá

Make a claim

What is covered?	What is not covered?
The insurance covers:	The insurance does not cover:
Damage due to sudden, external events. Theft from the home.	Wear and tear from normal use. Theft from anywhere but the home, unless it involves a burglary.

The insurance does not cover damage that only causes appearance defects but does not impair the item´s usefulness.

Smart insurance is valid in Iceland and while travelling abroad for up to 90 days.

You must report any damage as soon as possible and no later than one year from the date of the damage.
You must ensure that all the information in the insurance policy is accurate.
You must inform us of any changes in your address, telephone number, and email address.
You must follow all the precautions in the terms of the insurance policy.

The premium must be paid on the due date. When the insurance policy is issued or renewed an electronic claim is created in your online bank. You have the option to distribute the premium payments by:

Credit card payment, where the premium is charged monthly to a credit or debit card.
Direct payment, where your bank account is debited monthly.

The insurance policy takes effect when an offer is accepted and is renewed annually until it is cancelled.

Individuals and companies with fewer than five full-time positions can cancel the insurance at any time and it will expire at the end of the following month after the cancellation is received. Other companies can cancel their insurance one month in advance before the end of the insurance period.
The cancellation must be in writing, for example with an electronic signature.

Download information sheet

Download terms

If you have insurance with us, you can view the terms on My Sjóvá

Smart Insurance

Any limitations on what the insurance covers?

Where is the insurance valid?

What responsibilities do I have?

When and how do I pay the premium?

When does the insurance start and when does it end?

How do I cancel the insurance?

Stofn Loyalty Program

Any limitations on what the insurance covers?

Where is the insurance valid?

What responsibilities do I have?

When and how do I pay the premium?

When does the insurance start and when does it end?

How do I cancel the insurance?

Stofn Loyalty Program

Smart Insurance

Any limitations on what the insurance covers?

Where is the insurance valid?

What responsibilities do I have?

When and how do I pay the premium?

When does the insurance start and when does it end?

How do I cancel the insurance?

Related pages

Stofn Loyalty Program

Any limitations on what the insurance covers?

Where is the insurance valid?

What responsibilities do I have?

When and how do I pay the premium?

When does the insurance start and when does it end?

How do I cancel the insurance?

Stofn Loyalty Program