Damage caused by natural disasters

The following shall be insured against natural disasters, even if they are not fire-insured:

• Heating, water and sewage systems owned by municipalities or the Treasury.

• Port facilities owned by municipalities or the Treasury.

• Bridges of 50 m in length or longer.

• Publicly owned electricity infrastructure, including distribution networks, dams and utility installations.

• Publicly owned telephone and telecommunications installations.

• Ski lifts.

Owners are obliged to inform NTÍ of the insurance amounts of new constructions and changes to existing structures before 1 March each year, otherwise NTÍ will update the insurance amounts from the previous year in accordance with the building index.

If no new structures or extensions have been disclosed, this is not considered as insured by the NTÍ. When development takes place in municipalities, such as on networks, it is important to send information regularly to NTÍ to ensure that the projects in question are covered by the insurance coverage of NTÍ in case of damage.

The premium is 0.02% of the insurance amount. The own risk is 2% of each damage, but the minimum own risk due to construction projects is ISK 1,000,000.

Owners have access to the detailed re-stock price on 'my pages' and are asked to report changes and additions in this form.