Insurance in Denmark

Generally, Denmark is a safe country with few major incidences of public risks and uncertainties. However, individual private risks still exist. The private risks come in the form of car accidents, fire risks, property loss, and others.

Many people living in Denmark have one form of insurance to take care of any losses that may be incurred out of any extraordinary situation. It is advisable that anyone planning to live in Denmark for a long period secures their interest through an insurance policy.

The beauty with insurance in Denmark is that the insurance companies are very prompt in processing and paying out claims as soon as they are received. You don’t expect to be frustrated in signing up for an insurance policy and getting paid by any Danish insurer provided your premiums are up to date.

Benefits of private insurance in Denmark

The last thing anyone would wish to experience is financial harassments when anything unpleasant happens. Assume you or your family house gets ravaged by fire, the loss can be so immense to pay using own savings.

Yes, there are incidents where the government can intervene to bail individuals out of a loss especially if the magnitude of the damage is so expansive and affected many.

If the loss is only incurred by a private individual, it remains own responsibility to recover from the damage. In such a case, the insurance company comes in handy if you have a policy with any.

You can actually take insurance policies with multiple companies or consolidate them with only one insurer which makes it easy to make premium payments and process claims.

With a private insurance policy, you can be sure that the insurer will indemnify you against any common losses including  water damage, theft or burglary; whichever you insure against.

Compulsory insurance in Denmark

While public health insurance in Denmark is provided by the government through its social system, private insurance is personally acquired by the insured from the various companies in the country.

There are three compulsory insurances that anybody in Denmark is required to have based on what they own. Those who own a motor vehicle and or a dog must take a third party liability. As you know you also need a drivers license to maneouver a car.

Employers must take worker’s compensation insurance. Outside these compulsory insurance, an individual has the freedom to take other forms of insurance.

Other Private insurance in Denmark

Below you can find a selection of insurances that are available.

Home insurance

Home insurance in Denmark is one of the most common type of cover among the Danish residents. Home insurance policy offered by the Danish insurers typically covers against any losses of belongings in the home including clothing, furniture, electronics and anything else that you own at home.

Therefore, the amount insured will be pegged on the assessed value of your belongings. Because the home insurance covers everyone who lives within the home setting, it is sometimes easily referred to as a family insurance (familieforsikring).

Personal liability insurance (ansvarsforsikring)

Personal liability is another insurance which is always amalgamated with the home insurance. It covers the damages that the person insured may cause to other people or their property. It is highly important that one takes a personal liability insurance.

Accident insurance

Accident insurance is a very common private insurance in Denmark. As the name suggests, the insurance covers any accidents. There are two major categories of accident insurance include basic and an extended accident insurance.

Basic accident insurance covers against injuries or disability suffered dur to an accident arising from external events or caused by others. It is possible to extend the insurance to the family to protect them against injuries not necessarily caused by other parties.

Compulsory Third Party Liability Insurance

All cars in Denmark must be covered by compulsory third party liability insurance. The insurance basically covers any injuries or damages resulting from actions of other people or their property.

The car insurance policy in Denmark fall into two major categories including third party insurance (ansvarsforsikring) and comprehensive insurance (kascoforsikring).

The car insurance policy cannot work if the motor vehicle is registered in another country. Any vehicle purchases from outside Denmark must be imported into the country and registered within  2 weeks of arrival.

How to Purchase a Car Insurance in Denmark

Insuring a car in Denmark is a pretty simple and straightforward process provided that you have all the details required in place. There are also some of the best insurers jostling to insure you.

Because insurers rely on creating long lasting customer relations to get more risks insured, they always try as much as possible to appeal to them.

The car insurance in Denmark varies depending on whether it is the first car one has bought, the age of the car, distance driven and other considerations which vary from one insurer to the next.

The fact that there are many insurance companies that offer different products, a customer can easily choose the best.

However, making a comparison of the companies is important so that you make an informed choice  depending on aspects of the insurance that appeals specifically to you. Some of the sites for comparing insurance in Denmark include;

Accidents and Making an Insurance Claim

Whenever anyone is involved in a car crash or car accident of whatever nature, it is a requirement that the full insurance details of everybody involved is collected so that all the details required during claim becomes handy when needed. The information that should be captured at the scene of accident include:

  • Names and addresses of all drivers involved in the accident
  • Driver licence number
  • Insurance details of every driver involved
  • Number plates of the vehicles involved
  • Details of the vehicles involved (make, model).
  • Photos of the scene (if possible)

Insurance companies in Denmark have a standard report claim form to be filled by the claimant to be used in processing the claim from an accident situation. In the event of a traffic accident, the police should be called via 112.  

Once the claim report has been filled up, the claimant can submit it directly to the company’s online platform or on telephone. However, as a standard practice, all insurance claims from accidents must be made within 6 months of occurrence.

In administering the insurance, each company has its own way of dealing with no claims. Typically, if an insured person does not make any claim for an accident over one year, their premiums are reduced. Therefore, it is important to also check how each company handles no claims cases before deciding to settle for any in the market.

Terminating Car Insurance

Taking insurance with any company in Denmark does not mean you have to continue with the same insurer forever. Like any other contractual agreement, insurances can be cancelled.

Typically, the insured person is expected to write a termination notice to the insurer and send it by mail. Cancelations done at the time when a policy expires does not come with any costs.

However, some insurers may require the insured to pay a penalty for terminating a contract any other time. So as a precaution, it is recommended that you check the terms and conditions of your insurance company regarding insurance termination.