Insurance

Last updated: 3 7 2019

There are different types of private insurance policies you can get to protect yourself and your things. If you have insurance you can receive compensation in the event that you or the person you have insured has an accident.

A private insurance policy differs from the national insurance policies that Försäkringskassan and the Swedish Pensions Agency manage. This national insurance, also known as social insurance, includes sickness benefit, pensions and parental allowance. It may be necessary to get further cover for you and your things, in addition to social insurance.

You take out an insurance policy from an insurance company. The sum of money you pay for an insurance policy is known as a premium or insurance premium. 

Home insurance 

A home insurance policy provides basic cover that everyone needs. Almost everyone in Sweden has a home insurance policy. You are advised to get one. The insurance policy will cover your property in the event of fire, damage, and theft. Home insurance policies also include third party liability insurance, legal protection, assault cover and travel insurance. 

Personal insurance 

Child insurance 

Most parents choose to take out child insurance for their children. A child insurance policy can provide compensation in the event of permanent physical or mental functional impairment, if your child is ill for a long time, and in the event of a permanent inability to work. The cover provided varies with the policy, so it is important that you read up on what the insurance policy covers before you opt for it. A good child insurance policy provides cover for both illness and accidents. 

Health and accident insurance 

Health and accident insurance policies can provide financial compensation if you become ill or have an accident. 

Life insurance

Life insurance policies can provide financial compensation to your family in the event of your death. 

Car insurance 

If you own a car you are obliged by law to take out motor third party liability insurance in order to be allowed to drive the car. Motor third party liability insurance has to apply from the day that you buy the car. If the car is uninsured you have to pay a motor third party liability insurance charge (trafikförsäkringsavgift). This charge is levied for every day that the car is uninsured, and is much higher than the ordinary insurance premium.

Motor third party liability insurance covers all personal injuries and damage to others' property that you cause with the car. If you want to insure your car further you can take out partial or comprehensive car insurance for it.