An invoice for the insurance premium is sent on the first day of each month, with a payment deadline of one month from the due date. If the invoice remains unpaid, the collection process will begin.

Verna's collection and legal collection partner is Gjaldskil ehf.

Information about billing fees can be found on their website.

Overdraft interest rates follow the rates published by the Central Bank of Iceland.

If we do not receive a response, a billing warning, along with additional costs, will be issued by Gjaldskil three days after the initial due date.

The process after that is then the following:

13 days after the first day, collection letter 1 is issued, from Gjaldskil, together with costs.

23 days after the first day, collection letter 2 is issued, from Gjaldskil, together with costs

33 days after the first day, collection letter 3 is issued from Gjaldskil together with costs

After 43 days from the first due date, a legal collection letter is issued by Gjaldskil along with a final warning, requiring payment within 14 days. If the premium is not paid within this period, the insurance will be canceled.

53 days after one day, a repeat legal collection letter is issued from Gjaldskil