Insurance cover

The natural catastrophe cover is a stand-alone policy; the fire insurance companies collect the premiums alongside fire premiums in exchange for a collection fee. There is a single premium of 0.25‰. Infrastructure, lifelines - waterworks, geothermal heating systems, sewage systems, electric installations, bridges and harbour installations - not normally insured against fire, are separately insured by the Natural Catastrophe Insurance of Iceland. The premium for lifelines is 0.2‰. The policy only insures against direct losses resulting from the above mentioned catastrophes. There is a deductible of 2% for each loss as well as a minimum deductible.