Natural disasters and insurance

Civil Defence ‘level of uncertainty’ in response to earthquakes in Reykjanes

Natural disasters and insurance

In response to the recent series of earthquakes in Reykjanes, the National Police Commissioner – in consultation with the Suðurnes Police Commissioner – has declared a Civil Defence ‘level of uncertainty’. We at TM have therefore brought together the main information on insurance, earthquakes and volcanic eruptions.

Real estate

Real estate in Iceland is insured against damage caused by natural disasters by Natural Catastrophe Insurance of Iceland (NTÍ). NTÍ insurance is dependent on property being insured for fire damage – and since all property must be fire insured by law, it is automatically covered by NTÍ. In cases where the fire compensation assessment does not reflect the construction value of the property, you can take out additional fire insurance or request a reassessment from the Housing and Construction Authority (HMS).


NTÍ compensates damage caused to contents by an earthquake, provided that there is valid fire insurance on the contents. Such fire insurance is included in TM’s home insurance. We recommend you review your TM home insurance policy to ensure it reflects the value of what you own in your home.


NTÍ compensates damage to vehicles if you have taken out special fire insurance with natural disaster insurance, with the location of the vehicle registered to your home address.

Overview of your policies

You can view all of your valid TM insurance policies in the TM app or in the My pages section on this website.

What can I do to reduce the risk of damage?

You can find information on earthquake defence and preparedness here.

What do I do if I suffer damage?

Damaged caused by a natural disaster should be reported to NTÍ via the form available on the NTÍ website. You should refrain from repairs, preserve damaged items and take photographs until such time as NTÍ has assessed the damage.

We are happy to help if anything is unclear. Please do not hesitate to contact us in our online chat, by email at or by phone on 515 2000.