With private insurance, you don't have to pay even if you have a fire in your home, are exposed to theft or a car accident. All customers pay into their insurance company and receive compensation if an injury were to occur. This is a system built on community and trust.
There are many different types of insurance that are often grouped together under the term, or the word, non-life insurance. This applies, for example, to home insurance, contents insurance and car insurance. The price of the insurance policies varies between the companies, and the insurance policies that cover the most are often the most expensive. The most important thing is to insure what has the greatest value.
It is common for customers to pay a deductible, but these are small amounts compared to, for example, replacing an entire house after a fire.
Prices may vary from year to year. It is therefore advisable to check the prices at regular intervals. When it comes to household contents insurance, you can, for example, check Finans Norge's household contents calculator to find out more about how you can insure your valuables.
To compare insurance prices, you can use Finansportalen. Research both price and terms before you decide. You can buy insurance policies individually from different insurance companies or have many insurance policies combined in one insurance company.
Remember that the excess on insurance can vary both from company to company, and also from claim to claim.
The entire system of insurance is built around honesty and trust. If someone cheats on the insurance, they risk both being reported to the police and ending up in prison.
Most insurance policies are voluntary. But some insurance policies are particularly important to have in order. Home and contents insurance is something almost everyone in Norway buys. Fire insurance is very important to have, because otherwise you won't be able to replace your valuables if it starts to burn.
Home insurance covers the damages that most often occur in homes and holiday homes. Natural damage insurance and liability and legal aid insurance are also included in this insurance. If you do not own your own house or apartment, you do not need home insurance, but only contents insurance. Villa insurance is best suited for detached houses. In addition to contents, such as furniture and other equipment, this insurance also covers the building itself. Check with an insurance company whether you have the right insurance.
Insurance of your assets at home
The contents insurance applies to:
- Economic loss due to fire
- Natural damage from, for example, storms and floods is also covered
- Water damage. This applies to damage that occurs suddenly when a pipe breaks or leaks. But also water damage in connection with equipment such as a washing machine, hot water tank or dishwasher.
- Food in the freezer in the event of a power cut.
- Loss and damage as a result of burglary and theft.
- Legal aid.
Familiarize yourself with the safety regulations
The safety regulations apply to important safety measures that you must take care of. Examples of safety regulations are the requirement that doors in the home must be locked, and that the home must have a fire extinguisher and smoke detectors. If this is not followed, you may risk that the compensation is reduced or that you do not receive compensation at all.
A car insurance can be made up of several individual policies:
- Liability insurance: Liability insurance is insurance that all car owners in this country must buy when the car is registered. It is not optional to have this insurance. The insurance covers all damage the car can cause to other people and things.
- Part-casco: Comprehensive insurance covers fire, theft, vandalism in connection with theft and glass damage. This insurance is preferably used on used cars that are over 10 years old.
- Casco: Comprehensive insurance is an insurance policy that, in addition to partial comprehensive insurance, also covers damage to your own car in the event of a collision and overtaking and other mishaps and accidents.
Remember that you must have your travel insurance in order when you travel. The authorities also emphasize that people must remember to buy travel insurance. It is the most important travel advice.
The travel insurance usually includes the following:
- Luggage: Covers damage to and loss of luggage due to, for example, theft, robbery or vandalism. Also includes loss of tickets, passports and money.
- Motion sickness: Covers necessary expenses due to acute illness or accident. Includes expenses for doctors, medicines and hospital stays.
- Travel accident: Covers damage caused by accidents. For those over 70, there are restrictions on the sums in the event of death and disability.
- Return home in case of illness: Covers necessary transport home if you or someone in your immediate family is affected by sudden and serious illness, accident or death.
- Extreme-holiday and possible exceptions: If you go on an extreme holiday or take a high risk, the insurance may not apply. There are often exceptions when it comes to risk sports such as diving, riding etc. Check the conditions carefully.
- Credit card: You are only covered by the travel insurance linked to a credit card if you can document that you have paid at least 50 per cent of the transport costs with the card. Credit card insurance is less suitable if the trip is divided. You can then end up in a situation where you are only insured for parts of the trip.
- Long-term holiday: If you are going to be away for more than 45 days, you should be aware that most insurance policies do not apply for that long. You will probably need to purchase an extension of the policy. It is also important to check whether the insurance applies to the area you are going to.
Personal insurance and health insurance
There are many different types of personal insurance. You can buy personal insurance that applies to death, disability, critical illness, or any of these. Insurance that provides compensation in the event of death due to illness or accident is called life insurance. If you want to secure yourself financially in the event of disability, there are insurance policies for this. It is normal that you then have to fill in a health declaration form.
Other types of insurance
There are a number of other insurances than those mentioned here, but it is important to think carefully about what you really need. In this overview, we have only written about some of the most important insurance policies. Look at the websites of the insurance companies to find out what they offer. Also feel free to contact the insurance companies to find out more about the various insurances available.
If you are employed, the employer often covers certain insurances. In addition, membership of a trade union may also include insurance.