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Home insurance and vehicle insurance are common policies

Publicerad: 2022-09-21 Nästa publiceringsdatum: 2023-09-21

There are many different insurance policies that compensate households for
damage or loss of property and personal possessions owned or rented by the
person insured, in for example homes, houses, holiday houses, boats, cars and
other vehicles.

Vehicle insurance is the most common insurance policy for households. At the end of 2021 there were just under 5.3 million insured passenger cars and almost 3.1 million other insured motor vehicles.

Home insurance and house insurance are also common policies. Homeowner insurance is a combination of these and not only covers the costs for claims covered by the ordinary home insurance, but also functions as financial protection against claims that may arise concerning the property itself.

In 2021 the number of home insurance policies was just over 3.4 million and the number of homeowner insurance policies was almost 1.8 million. All in all, there were just under 14.4 million property insurance policies in 2021.diagram_8.png

Traffic and motor vehicle insurance accounts for most premium income

Non-life insurance premiums paid by households, individuals, and businesses totalled more than SEK 100 billion in 2021.The majority ofthe premiums is paid by households, which paid for traffic and motor vehicle insurance (34%), as well as home and house insurance (19 percent). Slightly more than a fifth (21%) of total premiums is paid by companies for business and property insurance policies.

In the last ten years, non-life insurance premiums have increased by 56%. This increase can partly be explained by the fact that the economy (GDP) has increased, since the demand for non-life insurance often rise as the income of households and companies increases.