Insurances
We at Lotus car rental do not want to charge you for any damages. We want you to have a pleasant trip without worries. Therefore, we offer you probably the best car rental insurance available in Iceland: The Platinum Insurance Plan with a liability/deductible of 0 ISK, also it covers river crossing, damage to chassis, engine, transmission, towing cost, and many other things. Third-party liability insurance is included in all rentals.
For more information about our insurances click here
Debit Card Imprint and deposit
All rentals are subject to the full rental agreement terms and conditions at the time of rental. A debit card imprint and deposit of the selected insurance liability will be taken at the start of all rentals, for security reasons, even when a voucher covers the cost of the rental. The deposit amount will be released after inspection by Lotus car rental at the end of the rental. This debit card imprint or deposit may be used to pay all extra charges as additional insurance, parking fines, damages or any cost due to the rented vehicle as a result of the renter's use of the vehicle.
Note: Renter(s) who purchase the Platinum Insurance Plan do not pay any deposit. The deposit for the Gold Insurance Plan is 65.000 ISK, Silver Insurance Plan is 150.000 ISK, and Bronze Insurance Plan is 360.000 ISK.
Credit Card Imprint
All rentals are subject to the full rental agreement terms and conditions at the time of rental. A credit card imprint will be taken at the start of all rentals for security reasons, even when a voucher covers the cost of the rental. This credit card imprint may be used to pay all extra charges as additional insurance, parking fines, damages or any cost due to the rented vehicle as a result of the renter's use of the vehicle.
Age requirement and driver license
A full driver’s license must have been held for at least 12 months and must be present at the start of the rental. The renter must be 20 years of age to rent a smaller vehicle. The renter must be 23 years of age to rent a 7-seater SUVs, Luxury vehicles, and 9-seater vans.
Cancellation policy
Bookings canceled more than 48 hours prior to the pick-up time are fully refundable (100%)
Bookings canceled less than 48 hours prior to pick-up time are not refundable
In case of no-show or early returns, no refund will be made.
This Policy is valid for all cars booked from 1/1/2021
Pick-up and Drop-off service
No additional fees are charged for pick-up and drop-off at Keflavík International Airport. A small additional fee will apply for pick-up and drop-off at a chosen location in Reykjavík or Keflavík. Instruction about the pick-up and drop-off service: www.lotuscarrental.is/about/pick-up-service/
Late or Early returns
Late returns of more than an hour after the scheduled drop-off time will result in charge of one additional day.
The renter(s) can return the vehicle earlier than the scheduled drop-off time. The renter(s) will get that price difference refunded if he notifies Lotus car rental at least 48 hours before scheduled pick-up otherwise no refund.
Fuel
The vehicle is normally full of fuel, the renter(s) must return the vehicle full of fuel. If the vehicle is an electric vehicle (EV) the renter shall return it at above 50% battery charge. A 3.500 ISK administration fee will apply if the vehicle is not returned full of fuel or above 50% battery charge. Renter(s) are fully responsible and will need to carry the repair cost if a wrong fuel type is pumped into the vehicle.
Vehicle Types
We reserve the right to substitute vehicles if the reserved vehicle type is not available, either with a similar vehicle or higher class.
Subject to terms and conditions
In the event of a collision or accident, the renter shall immediately notify the appropriate police authorities as well as Lotus Car Rental of the incident. The renter may not leave the scene before the police have arrived.
Should the renter(s) fail to comply with any conditions of this contract, all losses and damages suffered by the owner arising out of such failure might be borne by the renter(s). The renter(s) agrees to rent the above vehicle and elects to pay all amounts payable under this agreement by the method of payment of which details are given in this document.
The renter(s) accept responsibility for all traffic violations. An ISK 5.000 administration fee will apply for any unpaid fines or to a delayed process of infringement.
Renters responsibility
Maintaining antifreeze, AdBlue, and oil levels is the renter(s) responsibility. Any cost incurred will be reimbursed upon the production of a receipt. Should any malfunction of the vehicle occur, any sign of overheating, the renter(s) must stop the vehicle immediately, or renter(s) will be held liable, and loss of bond may occur.
TAX
Local value-added tax (VAT) 24% is included in all prices.
Payment
If you have a specific wish regarding payment or your car rental, please email us: lotus@lotuscarrental.is
Service fee
The vehicle pick up fee after the damage is 400 ISK per. Km. Minimum 35.000 ISK
Other fees:
Losing/Damaging charging cable - Type 2: Fee of 50.000 ISK
Losing/Damaging charging cable 220V: Fee of 70.000 ISK
Losing/Damaging GPS device: Fee of 45.000 ISK
Losing/Damaging Wifi doungle: Fee of 15.000 ISK
Losing/Damaging Booster seat: Fee of 15.000 ISK
Losing/Damaging Child Seat: Fee of 60.000 ISK
Rental Agreement
Obligations of the Renter
1) The renter(s) agrees to the provisions of this lease and has received a copy of it.
2) The renter(s) will return the vehicle:
a) And all accessories (including tires and tools) in the condition they were when received, apart from normal wear due to use.
b) On the date specified in this lease, unless otherwise agreed upon later.
c) To Lotus Car Rental’s premises unless otherwise specified.
d) With a full tank of the appropriate fuel. The lessor is permitted to charge the lessee for the missing fuel as well as a service fee according to the terms of the lessor.
e) If the vehicle is an EV the renter(s) will re-charge the vehicle above 50% battery charge. Renter(s) will be charged a[SM1] service fee according to the terms of the lessor.
3) If the renter(s) does not return the vehicle at the time agreed upon in this lease or does not declare his intention to extend the lease, Lotus Car Rental or the police is authorized to repossess the vehicle without further notice and at the renter’s expense. Extending the lease is dependent upon the consent of Lotus Car Rental. If the renter(s) returns the vehicle 1 hour or later after the lease has expired, Lotus Car Rental is authorized to demand up to 24-hours rental under the terms of this lease.
4) The vehicle shall be handled and driven carefully. Only those named as drivers on the first page of the agreement are authorized to drive the vehicle. The renter is liable for damages resulting from the use of the vehicle for which no compensation will be paid by the vehicle’s insurance company. This includes damage to the vehicle and/or injury to passengers due to the following and towing cost of retrieving the vehicle:
a) Off-road driving and driving where driving is prohibited.
b) Driving across rivers or any kind of watercourse (Only covered by Platinum Insurance Plan).
c) Intentional acts or gross negligence.
d) Use of intoxicants by the driver.
e) Vehicle use that contravenes Icelandic law and/or the provisions of this lease.
5) In the event of a collision or accident, the renter(s) shall immediately notify the appropriate police authorities as well as Lotus Car Rental of the incident, and the renter(s) may not leave the scene before the police have arrived or received permission from Lotus Car Rental to do so.
6) The number of kilometers (km) that the vehicle will be driven while this lease is in force is determined by reading a normal odometer supplied with the vehicle by the manufacturer. The renter(s) shall notify Lotus Car Rental as soon as possible if the odometer is out of order or stops functioning during the term of the lease.
7) Lotus Car Rental is not responsible for the disappearance of or damages to property that the renter(s) or any other party leaves in or transports with the vehicle.
8) The renter(s) agrees to pay Lotus Car Rental, upon request:
a) A deposit amounting to the estimated cost of hiring the vehicle.
b) Any and all expenses incurred by Lotus Car Rental if he has to bring the vehicle back to his premises, if the vehicle has been left somewhere without supervision, regardless of the condition of the vehicle, the roads or the weather.
9) The renter(s) is not authorized to have repairs done or make changes to the vehicle or its accessories or to put the vehicle up as any kind of security, without the prior consent of Lotus Car Rental.
10) The renter(s) is not allowed to drive a vehicle on F-roads that are not allowed on F-roads by Lotus Car Rental. All 2-wheel drive vehicles, 9-seater vans and electric vehicles are not allowed on any F-roads.
11) The renter(s) is liable for all parking meter charges and fines for breaking traffic laws.
12) The renter(s) is not authorized to use the vehicle for transporting passengers for payment, loan it to others, or sublease it.
13) The renter(s) is responsible to let Lotus Car Rental know of any malfunctions or something not working properly with the vehicle during and/or at the end of the rental.
Obligations of Lotus Car Rental
14) Lotus Car Rental will supply the vehicle at the agreed time and make sure it meets all the demands.
15) If the vehicle malfunctions, Lotus Car Rental shall supply the renter(s) with a comparable vehicle as soon as possible. If the damages are minor, Lotus Car Rental is authorized to have repairs done on the vehicle after obtaining the renter’s consent.
16) Lotus Car Rental shall inform the renter(s) of the content of the agreement, particularly the obligations that the renter(s) undertakes by signing it.
17) Lotus Car Rental shall inform a foreign renter(s) about Icelandic traffic regulations, traffic signs, and regulations banning off-road driving. Lotus Car Rental shall particularly point out the danger stemming from animals on the roads.
18) If Lotus Car Rental wants to limit the use of the vehicle regarding its equipment and/or road conditions.
19) Lotus Car Rental will maintain valid liability insurance for its business operations.
Insurance
20) The lease sum/rental fee includes mandatory vehicle insurance that includes liability insurance and accident insurance for the driver and the owner.
21) Third-party liability insurance consists of the amount stipulated by Icelandic law at any given time.
22) Insurances:
a) The renter(s) can be liable for the full amount of the vehicle's value depending on the type of damage and the protection coverage the renter(s) has. An estimate of the repair costs can be seen on the back of the condition report. The renter(s) can purchase separate accident insurance. For more information visit: www.lotuscarrental.is/insurance.
b) Bronze Insurance package includes (third-party liability insurance (TPL) + collision damage waiver (CDW) + Theft Protection (TP)), Silver Insurance package((TPL) + Super Collision Damage Waiver (SCDW) + (TP)), Gold Insurance package ( Silver insurance + Gravel Protection (GP) + Sand And Ash Protection (SAP)) or the Platinum Insurance package(Gold Insurance + Tire Insurance (TI) + F-road Insurance (FI) + Towing Protection Insurance (TPI) + River Crossing Protection (RCP).
c)Silver and Bronze insurance packages do not cover any damage to the vehicle caused by gravel, sand and ash, tire damage, damages caused by water, damages that occurred while driving on F-roads, damages caused by animals nor if the renter(s) requires towing assistance as well as exclusions seen in paragraph 23. The renter(s) can be liable for the full value of the vehicle depending on the type of damage.
d) The Gold insurance package does not cover any damage to the vehicle caused to the tires or wheels, damages caused by water, damages that occurred while driving on F-roads, damages caused by animals nor if the renter(s) requires towing assistance as well as exclusions seen in paragraph 23. The renter(s) can be liable for the full value of the vehicle depending on the type of damage.
e) The Platinum Insurance package gives you full protection with 0 ISK deductible for all insurable instances and lowers the maximum cost due to towing down to 35.000 ISK except for exclusions seen in paragraph 23.
23) This accident/all-risks insurance does not cover:
a) intentional damages or damages due to gross negligence on the part of the driver.
b) damages resulting from the driver being under the influence of alcohol, stimulants, or sedatives, or in any other way incapable of driving the vehicle safely.
c) Damages due to race or test driving.
d) Damages due to war, revolution, civil unrest, riots.
e) Damages done by animals, only covered by Platinum Insurance Plan.
f) Holes burned into seats, carpets, or mats.
g) Damages affecting only wheels, tires, suspension, 12V batteries, glass (other than windows), radios, or loss by theft of parts of the vehicle and damages resulting from this, only covered by the Platinum Insurance Plan.
h) Damages caused by driving on rough roads to the vehicle’s transmission, drive, and other parts that are in or attached to the chassis; damages to the chassis resulting from the vehicle scraping bottom on rough roads as a result of ridges being left by road graders; stones lodged in the road surface or on the shoulder of the road. The same applies to damages occurring when stones are thrown up, striking the underside of the vehicle during driving, only covered by the Platinum Insurance Plan.
i) Damages or towing costs, resulting from driving in places where vehicle traffic is prohibited, such as paths, tracks, banks of snow, ice, unbridged rivers or streams beaches, places only accessible at low tide, or other trackless areas. However, compensation will be paid for damages if the driver is forced to leave the road, for example, due to road repairs.
j) Damages or towing costs when driving on a closed road, off-road or in areas where driving is prohibited are not covered by any insurance. No insurance will cover damages that may happen when driving cars on F-roads that are not allowed on F-roads by Lotus Car Rental. All 2-wheel drive vehicles, 9-seater vans and electric vehicles are not allowed on any F-roads.
k) Damages caused by sand, gravel, ash, pumice, or other kinds of earth material being blown onto the vehicle, are only covered by Gold and Platinum Insurance Plans.
l) Damages to the bodywork or the door frame of the vehicle resulting from the wind, only covered by the Platinum Insurance Plan.
m) If the vehicle is transported by sea, no compensation will be paid for damages caused by sea spray/seawater.
n) In other instances, reference is made to the general conditions for accident /All-risks insurance.
o) Loosing or breaking the vehicle keys is not covered by any insurance.
p) Pumping the wrong fuel into the car is not covered by any insurance.
q) The 12V vehicle batteries are not covered by any insurance
r) If the vehicle is an EV and the renter(s) fully deplete the EV's battery pack, the renter(s) are fully responsible for any fee associated with the transportation of the vehicle as well as recharging the EV.
s) Losing the charging cable for the EV, only covered by the Platinum Insurance Plan.
24) The renter(s) can decline all insurance if requested by the renter(s) in the form of a written statement or by email.
General provisions
25) This lease agreement should always be kept in the vehicle either in printed or in electronic form
26) Additions and amendments to the conditions and provisions of this lease agreement shall be made in writing.
27) Icelandic law applies to agreements made based on the terms cited above. This includes any claims for compensation that might be made. It also applies to the basis for and the calculation of compensation. The same applies to claims for damages based on liability outside this agreement. If legal disputes arise concerning this lease agreement, they will be heard before Lotus Car Rental’s legal venue.
28) Disputes between the parties to this lease agreement can be submitted to the active Arbitration committee of the Icelandic Consumers Association and the Icelandic Travel Industry Association.
29) It’s the driver’s responsibility to know road conditions and whether the road is open or closed.