Note!
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Motorcycles, like cars, are required by law to have mandatory insurance. Third-party liability insurance and accident insurance for the driver and owner are included in this insurance policy. The cost of Motorcycle Insurance depends on the time of year and how the motorcycle is used.
Yes, TM is notified by the Icelandic Transport Authority (Samgöngustofa) when license plates are returned, and cancels the mandatory insurance as of the day the Transport Authority accepts them.
No, comprehensive insurance is a voluntary insurance, which has to be cancelled manually.
No, but protective gear may be covered by home insurance.
The insurance only covers you and your spouse.
No, mandatory insurance must be in effect if the license plates haven’t been returned to the Icelandic Transport Authority or another depository authority.
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