Policies by location

Iceland Reykjanesber, Iceland

  After Hours

Our office is open from 9:00 (9am) to 16:00 (4pm) every day. After hours deliveries are accepted without any extra charge under some circumstances.


The lessee/driver of a rental car has to be at least 20-25 years old and present a full and valid driving license. The license must be held for a minimum of one year and without major endorsements or penalty points. Detailed information about driving license requirements for valid driver's license. Young driver fee is 10EUR per day.


Reservations can be cancelled free of charge up to 48 hours before the start of the rental. Reservations cancelled within 48 hours of the start of the rental will be charged a fee equal to one day rental.

  Deposit Rules

Lessee's/guarantor's 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 may be used, by the lessor, to pay any additional cost at the end of the rental period such as damages to the vehicle, which are not covered by any insurance, penalty fees, fines for traffic violations, parking fines, missing fuel or any cost due to the rented vehicle as a result of the lessee's use of the vehicle, even though the charge is higher than the deposit. The deposit amount will be placed on the credit card account to be owed by the lessor, at lessee's date of pickup and may holds as long as 30 days, depending on the issuing bank policy. The deposit hold may not be released in case of vehicle is returned damaged. Credit card accepted for deposit/guarantee: AMEX, MC, VI, DC, DS, UNION PAY and JCB.

  Drivers License

Minimum rental/drivers age is 20 years old and maximum 75 years old. Lessee and each additional driver must present a full and valid driving license which has been held for a minimum of one year and with no major endorsements. Also, a valid national identity card or passport needs to be presented at the time of pickup. An international drivers license (IDL) is required if the lessees national driving license is not in Roman alphabet (for example if the license is in Arabic, Greek, Russian or Chinese). International driver license must be accompanied by the original domestic license of the driver. Additional driver is available for surcharge of 4EUR per day or maximum of 39EUR per rental.

  Early Return

In case of early return we are unable to give a refund the vehicle is supposed to be returned exactly on reserved drop off time at reserved drop off location. If vehicle is returned late renter needs to pay one day rental for each starting day after the reserved drop off time. In additional renter will be charged for a fee of 25EUR in case of early or late return.

  Emergency Info

24/7 breakdown assistance is available. Lessor will assistance via phone and arrange if requested an assistance from the next service providers. Cost of assistance depends on your location, severity of the problem and other factors. The lessee will have to cover the cost for transporting a immobile damaged vehicle / vehicle dropped off at unauthorized locations back to the lessor's office in Keflavik. The towing fee does not apply in case of vehicle breakdown and damages which the lessee is not responsible for. For example unforeseen mechanical or electrical vehicle breakdown or a collision where the rental vehicle is hit by another car. Towing cost is 1.5EUR per km, with a minimum fee of 200EUR. Please call 00354 571 7222 for our road side assistance service. In case of serious emergency please call Iceland national emergency number: 112.


The vehicles are supplied with a full fuel tank and should be refilled prior to return to drop off location and filled up in maximum 10 km distance away from the drop off location. Renter will be charged for every missing half quarter of a fuel in addition to a 25EUR refill fee. Fuel price is 1.6EUR per liter.


- All international cross border travel is prohibited. Traveling with the rental vehicle overseas is allowed but on lessee liability. No insurance covers vehicles damages or losses to do traveling overseas. - Vehicles are driven on the right side of the road. - Headlights are required to be on at all times, day and night, when driving. - Child seats are mandatory by law, seatbelts are mandatory by law.


-- Gravel protection (GP) Gravel protection fully covers damage to windshield and windows, lights and minor damage to paintwork of the rented vehicle due to gravel or rocks throw from other vehicles, when passing them. Driver’s liability is taken to zero when this occurs. -- Sand and ash protection (SAP) Sand and ash protection (sap) reduces the lessee's financial responsibility for damages caused by erosion or ash, which can for instance damage the paint on vehicles permanently, to the deductible amount. The maximum deductible amount for sap is 2.900EUR for all vehicle groups. -- Insurance package 1 (SCDW+GP) -- Insurance package 2 - (SCDW+GP+SAP)


Unlimited Kilometer on each rental.


If reserved renter does not show up (no-show) a payment in the amount of one day rental will be taken at time of rental, in the end of the reserved pickup day of the car or later on.


All major international credit cards are accepted AMEX. MC, VI, DC, DS, union pay and JCB. Transaction Fee of 1.5 percent is charged for payment via AMEX. Other payment methods are without transaction fee. Cash payment or payment via debit card is accepted, But credit card deposit/guarantee is required.

  Prepaid Debit Cards

Customers who make a prepaid reservation using a debit card need to be aware that the renting location may require a credit card in the renters name be used for leaving a deposit for the rental in order to rent the car. Customers who do not have a credit card may be denied rental.

  Prepaid Reservations

If you have made a reservation you may pay on arrival however to make a reservation we will need a credit card to guarantee your vehicle. There may be an authorization on your Credit Card statement of USD$1.00 please be advised that a no show fee equivalent to a one day rental plus taxes with a minimum of USD$35.00 will be charged to the Credit Card. If vehicle is not pick up you can avoid this fee by cancelling your reservation through the same website you made it, you cannot call or write to cancel you can cancel only through the website where the reservation was made at least 48 hours in advance of your scheduled rental time. Prepaid reservations-if you have a prepaid reservation your Credit Card will be charged in full at the time you made your reservation. The Credit Card that you paid your reservation must be present at the time of pick up. Refund and cancellation policy-a prepaid reservation is a nonrefundable booking. If you do not pick up your rental when scheduled your reservation will not be modified. If you do not pick up your rental when scheduled your reservation will be cancelled and you will not receive a refund or credit. For customer satisfaction Economy will apply a refund for any of the reasons below-after verification- -flight cancelled and customer could not get to the rental location-natural disaster prevented travel- Illness prevented travel-death in family prevented travel-jury duty prevented travel-Economy was unable to fulfill the customer reservation (example no vehicle available) - Any action due to the COVID-19 pandemic. Please be advised that there will be a charge of a handling fee for cancelling. If a customer chooses to change the date of their reservation the handling fee will be waived but may be subject to a rate adjustment. For date change please contact 1 877 326 7368. To process a refund or if you have any problems with your reservation please email Must be prior to your pick up.

  Reservation hold time

Reservations are held for two hours past the scheduled pick up time.


By renting a vehicle from Economy Rent A Car and Economy Rent A Car affiliates, you hereby agree that any and all disputes and controversies arising out of your reservations and your rental of the vehicle shall be resolved solely and exclusively by binding arbitration administered by the American Arbitration Association.


Thank you for choosing economy rent a car represented in Iceland by Fair Car Car Rental. We will be waiting for you in the arrival hall with the economy logo on a White board. From the airport we will transfer you free of charge directly to our office. There we will deliver you the car and provide you with all the information you need. Our Keflavik international airport (meet & greet) service is available every day (24/7) all year around when flights are arriving at Keflavik international airport. Our representative will arrive 25 minutes After landing and will wait for 30 minutes (in case you have provided the correct flight information). On return we will meet you up on requested time and will drive you straight to the airport. If you do not find our representative please call 00 354 571 7222. In the event that you are not able to contact fair car through this number, then, please call economy at 877 326 7368 (USA toll free).

  Taxes and Fees

A location fee of 50.00 EUR per rental will apply to all started rentals. -- Reykjavik office/shuttle service -- - Extra 25 EUR surcharge will apply to vehicles picked up in Reykjavik office/area. - Extra 25 EUR surcharge will apply to vehicles returned in Reykjavik office/area. This surcharge includes shuttle pickup/dropoff were you are staying in the greater Reykjavik area (guesthouse, hotel or other), alternatively at Reykjavik domestic airport or BSI bus terminal. Reykjavík office/shuttle service is open from 8:00 (8am) to 22:00 (10pm) every day all year around. Local value added tax - vat - 24 percent of total price.


Collision damage waiver (CDW) reduces the lessee's financial responsibility to a part, in case of damage to the vehicle. The financial responsibility is limited to the deductible amount. The maximum deductible amount for CDW is 2.900EUR for all vehicle groups. Collision damage waiver (CDW) is mandatory unless lessee provides written proof from an insurance company, specially stating that coverage of collision insurance is effective in Iceland and valid for the duration of the rental agreement. Usage of personal third party insurance is always on lessee's own responsibility. If CDW, or SCDW is not accepted, lessee will be held fully reliable for the full value of the vehicle and extras in case of third party insurance is not valid. -- Super collision damage waiver (SCDW) -- Super collision damage waiver (SCDW) reduces the lessee's financial responsibility to a part of the vehicle, in case of damage to the vehicle, to the deductible amount. The maximum deductible amount for SCDW is 700EUR for all vehicle groups. The restrictions specified about the collision damage waiver (CDW) apply also to the SCDW.