The laws of Sweden dictate that every car must be insured from the moment it is purchased. For this reason, there are so many companies that sell car insurance.
This article gives a guideline on how to choose car insurance in Sweden. Here are some factors to consider;
- Company reputation
The first step to finding reliable car insurance is to look at your options.
Each insurance company has their own and policy underwriters and the hence have a variation of prices and coverages.
The next step after finding a list of potential insurance companies is to learn everything you can about their services.
A company’s reputation reflects its consumer judgment about its products. You can find a review website from Sweden like Omdomesstalle.se, that has independent reviews from Swedish citizens.
A customer experience about insurance companies before deciding to purchase an insurance policy for your car.
If you happen to be in Sweden and looking for a car insurance company is perhaps you may consider reading some reviews about ICA Försäkring.
Reading reviews will help you make the right decisions and avoid scam companies.
- Insurance requirements
Insurance requirements are twofold; what is needed of you from the insurance company and what is expected of you by the government when taking an insurance policy.
Most insurance providers will ask you to provide the following;
- Proof of ownership of the vehicle
- A driver’s license
- Vehicle information
- Financial details.
By the laws of Sweden, third-party liability insurance and fire insurance are compulsory for all motor vehicles. No car insurance company in Sweden can exclude these mandatory requirements.
Nonetheless, the minimum coverage is in car insurance is often insufficient and parties go try to find extensive insurance cover.
Some of the things to consider having in your insurance cover are;
- Collision coverage
- Medical payment expenses
- Personal injury protection
- Theft, vandalism, natural peril damage cover
You can find a majority of these in a comprehensive insurance cover that is often expensive than basic car insurance. The good thing about comprehensive insurance cover is that the value you get out of it it is higher.
In Sweden, there is an option for coverage called the ‘BILXTRA’ offering partial cover covering the cost of car rental at a maximum of 45 days.
It is much cheaper than comprehensive coverage insurance.
- Content of the policy
Inclusions and exclusions are important checks when getting car insurance.
Inclusions are what is covered under the insurance policy with exclusions are what are not covered in the insurance policy.
More often than not people purchase insurance is without fully reading and understanding what can be covered.
Even comprehensive insurance coverage does not mean you get full coverage per se. It may mean what the maximum coverage is in that particular insurance company but not necessarily everything possible to be provided by a regular insurance company.
Sometimes insurance companies try to sneak in exclusion liabilities in the insurance policy so that they can limit the extent of liability they have to cover.
This is why it is very important to always counter-check your policy and not just take marketers’ sales for the words.
Premium is the amount of money you have to pay in exchange for coverage.
The major factor that determines how much premium you going to pay is the coverage, however, other factors are affecting the amount of premium placed on an insurance policy. These are;
- The limits and deductibles -This is the maximum amount of money that the policy can cover when the risk is attached.
- Driving age – The premiums for young drivers may be higher than for older, more experienced drivers.
- Driving record – Having a history of multiple car accidents may result in an insurance company charging a higher premium for your car insurance.
Premiums are underwritten based on the exposure to risks such that situations and circumstances that expose a driver to more risks will ultimately result in a higher rate of premium.
- Financial situation
Finally, with all that said, it is time you assess your financial situation.
There is no need to take a comprehensive coverage that is often more expensive when you cannot afford it.
Fast access your income and how much you are willing to pay for our car insurance. List down the coverages that you cannot do without ( keeping in mind the mandatory coverage is listed.)
Thereafter, by reading reviews you can find a reliable Swedish car insurance company that covers what is on your list at an affordable price.