rheUnlike in other parts of the world where car ownership could be a pipe dream, a lot of people in the Nordics own cars. Even as an expat arriving in any of the Nordic countries, it would be advisable that you just decide which car model exactly you would buy. If you are really focused on diligent work and dedicated to whatever you do as a foreigner in the Nordics, it won’t be too long before purchasing a dream car either a brand new or used car in the sprawling car market. But even then, buying a car in the Nordics is the easy bit. The real challenge comes with car maintenance and servicing plus paying up every subscription including car insurance and state taxes such as celebrated Green Motor Vehicle taxes. Even if you earn so much in the Nordics, it won’t just be the car that needs to be looked after. So, you basically need to check out any slightest possibility of cutting costs.
Car ownership in the Nordics is not a rarity but a great thing
Owning a car in the Nordics means that budgeting your time gets top notch. You can easily and conveniently book an appointment and set off only when its lets say 5 minutes early. Like you get to budget well with your time each day which cumulatively gives you proper spending of every day. Whether its about doctors appointments, working, dentist appointments, dropping kids at school and picking them, taking the young ones to an event. The beauty of having a car in nordics isn’t even about the amusement of getting to another status but really the flexibility and convenience.
As you may already know, the Nordics can be extremely cold and rainy in winter, Autumn and Spring seasons. Once you have a car, things get better and it’s freaking to stay a single day without the car. Like the car becomes part and parcel of the family. It gets even difficult to go a day without a car if you already have one. No wonder established mechanics in the Nordics will always give you a replacement car to use while they check your own.
The greatness of car ownership in the Nordics isn’t without a cost. You must pay your taxes to keep the car on the road. Actually, motor vehicle taxes are a must have in the Nordics so you better plan ways for it. You have a free choice on whether to expand the insurance package to include a full comprehensive car insurance or just stick to the mandatory motor vehicle tax. The choice here lies with your individual needs as a car owner.
Car insurance companies in the Nordics.
While purchasing car insurance in the Nordics shouldn’t actually be a daunting task as iit sounds, it might be time consuming to pick out the best insurance company and package. There are various car insurance companies out there who attempt to get as many customers as possible but when it gets to the time of making a claim, some dilly dally and take customers through harrowing experience. Your best bet is to sort through all the car insurance companies and find the best fit for you.
But one thing we may need to get clear here is that car insurers in the Nordics operate within the set laws. Yes some of them that act negligently may appear as frustrating but at the end of the day, they will have to live up to every word of the insurance agreement. Failure to provide everything as in the insurance policy attracts heavy sanctions from the regulatory agencies there. They never bluff if it comes to customer protection.
All car insurance companies in the Nordics do all they can to recruit as many customers as possible. Because the nature of their services and insurance packages are almost identical, Their main differentiation strategy is to win the heart and mind of their customers through excellent customer centered interactions plus juicy discounts.
As a person looking to take insurance cover for your car in the Nordics, your worry would not be so much about whether the insurer is legit or not. Any insurer you see around has gone through rigorous checks by the authorities and plays by the rules to the latter. So the focus goes towards other small small yet important issues. Focus on insurance pricing, customer experience, claim processing, response time and so on.
Considerations for your Nordic car insurance pick
You can’t just wake up and decide on an insurance company to go with. Ordinarily, picking an insurance company for your car in the Nordics is a well thought out process. But in the unlikely event that you never thought through it, there is always an option to change.
How much Coverage is Enough to Meet your Needs
You know by now that the best policy is one that meets all your insurance needs while saving costs. However, price is not the only thing that you should consider when making a decision on the best policy to purchase. You should work under the assumption that the cheapest policy won’t always meet your needs.
Most insurance companies limit collision coverage to their expensive policies. Collision coverage is necessary for repairing your car whenever you are involved in an accident. Similarly, cheap policies don’t offer comprehensive coverage which protects you from other factors. Examples include car damage from auto accidents, such as natural disasters, theft or vandalism. Like it or not, these are challenges that every driver is likely to encounter at one point or another.
You will likely notice that the cheapest policies only offer the minimum insurance requirement for most countries. Thus, they will only cover property and bodily injury liability coverage. While this policy might save you costs, it will cost you a lot of money whenever you get into an accident.
For instance, it doesn’t cover the legal claims that might result from critical accidents where there is an injury or property damage. Furthermore, insurance needs differ from one person to another depending on various factors. For instance, gap insurance is necessary whenever one is leasing a car. Gap insurance accounts for the difference between the actual cash value of the vehicle and the remaining balance on the lease.
Explore the Financial Status of the Insurance Company
The availability of many insurance companies in the market implies that competition is stiff. So, you can expect companies to advertise some of the most competitive prices out there. However, you should be cautious when deciding the policy to buy because not all companies are financially sustainable.
While selecting the best policy, it pays to look into the financial health of each company. There is no point in saving money while getting stuck with a claim that will never pay off. So, you should ensure that the company you choose will be out there long enough to pay out your insurance claims.
The most important question thus, becomes how to examine the financial health of an insurance company. The good news is that the internet has made this easier than you might think. You can access online reports from independent ratings companies that will help you to determine your insurer’s financial status. You can also use these sites to compare different insurance companies and select the best. However, you should note that every ratings site applies distinct standards for examining insurance companies and their financial status.
Compare Car Insurance Quotes from different companies
Your best bet when purchasing car insurance policies is to shop around and find quotes from different companies. Whether you are conducting your search online, on the phone or through an insurance agent, you can access these quotes. Most online sites will ask you to fill in a simple application form then provide quotes.
However, it’s important to note that while some sites might offer actual quotes, others only provide an estimate. Whatever the case, you will end up with a rough idea of what to expect. The first thing you will notice is that the companies might offer the same level of coverage but at varying prices.
The significant difference comes up because companies set policy prices based on the level of risk. Likewise, every company applies its own method to determine the level of risk a client poses. This also determines the likelihood of you filing for an insurance claim, which is why a poor driving record will cost you more.
Other companies also use a client’s insurance scores to determine your insurance risk. Some, on the other hand, will rely solely on the type of car you drive. This will help determine how much it would cost to repair the car after an accident. Finally, your area of residence can also be used to determine insurance risk. Car insurance will cost you more if you live in an area with a higher-than-average rate of car accidents.
Look at other incentives offered by a car insurance Company
Insurance companies often offer incentives to attract more customers. These incentives can come in the form of discounts. So it pays to confirm which discounts are offered by a company. Some discounts might not be significant enough to save costs though so be careful when making a choice.
What this means is that the discounts might not be worth the policy if it’s too expensive and won’t cover the extra costs. For instance, when your teenage kid is included in your policy and they have good grades, they might qualify for lower premiums. Discounts can also be determined by annual low-mileage thresholds or taking driver education classes.
It might also be based on whether or not your car has an anti-theft device among other things.