6 Factors to Consider Before Buying Home Insurance in Sweden

The number of damages that may result during the occupancy of a home in Sweden can be immensely frustrating on top of being a huge financial burden. This is why many people in this country opt to purchase home insurance policies.

Here are some of the factors to always consider before choosing to buy home insurance from any Swedish provider; 

1. Insurance provider

The insurance industry is a very lucrative business in Sweden And every investor wants a slice of it. There are old and emerging insurance providers with each having different policies on home insurance covers. 

The best way to assure you purchase our home insurance policy from the best insurance provider is to ensure that you have undertaken a comprehensive comparison of the services offered. 

Reading reviews from other users of home insurance services from a Sweden review website such as OmdömesStälle will guide you to the best provider.

In case you still feel stuck, you may perhaps look at some reviews about Hedvig insurance providers. If their reviews are not to your liking, you may read further to find out more about other insurance providers.

Each time you read the reviews try to get all the feedback about these factors;

2. The type of property insurance

Many people do not know that there exist different types of property insurance. Types of property insurance are often confused with the type of coverage offered.

Understanding the type of property insurance to take is the first step to deciding the list of averages you want. Here are the major types of property insurance in Sweden;

• Homeowners insurances 

From the wording, this type of insurance covers damages that occur in the exterior and interior of a home. It is often purchased by permanent homeowners and it is the most common type of home insurance.

It is more comprehensive in terms of coverage than other types of property insurance. 

• Renters insurance 

Renter’s insurance covers rental properties for tenants. Many landlords opt not to purchase commercial property insurance and tenants have to purchase renter’s insurance instead. 

• Short term rental insurance 

Short-term rental insurance often offers coverage for a shorter period than renter’s insurance or homeowners insurance. The coverages you get are often similar to the renter’s insurance only that it is valid for a few months. 

• Flood insurance and natural disaster insurance 

Many insurance providers opt out of offering coverages on floods and natural disasters mainly because their costs tend to be higher and in many cases insurance providers run losses from covering flood insurance in the same policy as home insurance. 

3. Type of coverage

After considering the type of property insurance you need for your stay the next step is to consider the type of coverage that best suits your home. 

Often the coverages determine the final rate and if you want to pay less you will have to filter the necessary coverage as you want in your policy.

The major types of coverages found in most Sweden home insurance policies are;

• Dwelling coverage 

The dwelling coverage is often found in a regular homeowners insurance policy.  in many cases they cover the cost of rebuilding and repairing the home structure resulting from wear and tear. 

• Personal property 

Personal property coverage is another thing to be on your checklist when deciding what type of home insurance to purchase. 

They cover personal assets in a home that may be damaged or stolen. 

• Personal liability medical expenses 

In case a third party is injured from the damages resulting from your home a personal liability medical expense will be covered by basic home insurance. 

• Loss of use  

The loss-of-use coverage often provides reimbursements when your insured home is inhabitable for a while.

4. Rates and premiums 

Rates and premiums for your home insurance should counter-check with the type of coverage you’re getting. to keep your spending on the low, consider checking some things out of the insurance policy for instance you don’t need to have a loss of use coverage.

5. Exclusions 

Be careful when picking an insurance policy to ensure you are not excluded from the necessary coverage as you need in a home insurance policy.

6. Claims and waiting period

Always opt for an insurance policy that has a lesser duration for their waiting period and has faster processing of claims.

Conclusion:

As mentioned earlier the best way to find good insurance providers is by reading reviews. Compare and contrast how companies in Sweden perform in terms of all the listed guidelines.