It can be expensive if your most valuable devices are damaged and you need to have them repaired or buy new ones.
Smart Insurance is intended exclusively for those aged 18-25 who are still living at home. With this insurance, they can insure these valuable devices, even better than with traditional contents insurance, as the deductible is lower.
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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.
If you have insurance with us, you can view the terms on My Sjóvá
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