We rely on various smart devices in our daily lives—whether for staying in touch with friends and family, studying or working, watching our favorite shows, or tracking runs on Strava.

These devices are expensive, and repairs or replacements can be costly if they get damaged. That’s why we recommend Smart Insurance for young people living at home with their parents.

If you buy two additional insurance policies along with Smart Insurance (such as mandatory vehicle insurance and life insurance), you will automatically join our loyalty program, Stofn, where you receive various benefits.

Smart Insurance covers your phone, other smart devices, computers, bicycles, and electric scooters that you own.

Smart Insurance costs 1,492 ISK per month.

We do not replace phones but provide compensation that you can use to purchase a new one.

The compensation amount depends on the age of the phone at the time of the accident. Used items depreciate in value, so, for example, the payout for a six-month-old phone will be lower than for a brand-new one.

This depreciation means the insured item loses value over time. However, Smart Insurance has slower depreciation rates compared to similar insurance policies, which means you may receive a higher payout than with traditional family and home insurance.

Your compensation is based on the price of a new, comparable phone, adjusted for depreciation.

No, Smart Insurance is only available for individuals 18 years or older.

However, if you have Family Protection or a similar home insurance policy, children’s belongings are covered under that policy, along with other household contents.