The Car insurance in Sweden (bilforsakring) is a contract between an owner of car and the Insurance wherein the later undertakes subject to payment of to offer insurance against financial loss in the event of an accident or loss of the car or other perils such as fire incident. The protection the insurance company provides is in exchange of payment of insurance premium.
Thus, the Car insurance policy in Sweden provides you coverage for; damage to or theft of your car, legal liability to others for bodily injury or property damage, the cost of treating injuries, rehabilitation and sometimes lost wages, funeral expenses and even reimburses you when an accident. You can also purchase under insured motorist coverage, which will cover costs when another driver lacks adequate coverage to pay the costs of a serious accident.
It is to be noted that third party car insurance (trafikforsakring) is compulsory in Sweden not minding the type of car you use, in fact, even motorbikes are under compulsion to buy third party car insurance.
In Sweden, there are five different car insurance covers and they are large comprehensive insurance, comprehensive insurance, third party cover, partial cover and the Trafikxtra.
WHAT COVERS AND THE CIRCUMSTANCES
Car insurance will cover you and other family members in your policy irrespective of whether you are driving your car or someone else’s car. Your policy also provides coverage if someone who is not on your policy is driving your car with your consent.
Your personal car insurance policy only covers personal driving, irrespective of whether you are commuting to work, errands or taking a trip. It will not provide coverage if you use your car for commercial purposes.
It also covers collision with animals, wide fires, road side assistance, theft etc
Note further that Personal car insurance will not also provide coverage if you use your car to provide transportation to others such as a ride-sharing service such as Uber.
CAR INSURANCE IN SWEDEN
It is compulsory to have car insurance in Sweden before such car can be registered. This legal requirement with respect to car insurance is for both citizens and foreigners. However, there are options ranging from third party insurance to comprehensive insurance and others
Sweden permits people to bring in cars from their home countries but it must get registration within 7 days of arrival Similarly, it’s compulsory to register a new car in your name within seven days of purchase. The same rule applies to getting insurance.
In the alternative, you can get a seasonal insurance known as seisontavakuutus if your car is not going to be in use. The Seisontavakuutus plan comes at a cheap price covering the time the car will not be in use.
Comprehensive car Insurance in Sweden
The comprehensive car insurance policies are not compulsory in Sweden unlike the third party car insurance. Therefore, a car owner is at liberty to buy comprehensive insurance policy to improve the extent of the insurance. Comprehensive insurance in Sweden vary in scope from one insurance company to another.
Cost
The car insurance companies in Sweden offer various insurance services at different rates. Therefore, it is your responsibility to choose the plan that serves your insurance needs. Generally, the minimum cost of car insurance in Sweden is SEK 3,500 and the maximum could extend to SEK 6,000. And it is advisable you also pay attention to hidden costs.
Similarly, note that while the level of coverage may be the same and the premiums may vary from one company to another. Thus, each company employs a distinct formula to calculate the risk and probability of filling claims by policyholders. Note also that the cost will also depend on other factors such as risk and the value of your car.
Others factors may include type, age and safety features. Safety features may include things such as anti-locking brakes on the car.
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