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Home insurance and vehicle insurance are common policies


Many insurance policies compensate households for damages on homes and
houses, boats, cars and other vehicles. Vehicle insurance is the most common
of these policies. At the end of 2018, there were almost 5.1 million private
cars and just over 3 million other insured motor vehicles (see Figure 1).

Home insurance and homeowner insurance are also common. Homeowner
insurance policies do not only cover costs of damages under the standard
home insurance policy, but also function as financial protection against damages
that can affect the property itself. In 2018, the number of home insurance
policies was more than 3.3 million and the number of homeowner insurance
policies was 1.8 million.

Almost all people in Sweden have home insurance
Most people in Sweden have a home insurance, but not quite everybody.
Home insurance is a package of different insurance policies that can
compensate the policyholder for such things as theft and fire. The insurance
policy covers items that the policyholder owns, hires or borrows for private
use, such as furniture, clothing, household utensils, domestic appliances
and home electronics. It can also pay compensation for claims that may arise
while travelling or if the policyholder is assaulted, required to pay damages
or in need of legal protection.

At present, it is estimated that almost 97 per cent of the population in
Sweden have home insurance (see Figure 2). Thus, above 3 per cent, just
under 400,000 individuals, have no home insurance, which means that they
have no legal or financial protection at home or while travelling. It is more
common for men not to have home insurance, as well as people born outside
Sweden, particularly those born outside the Nordic countries.