Take care of yourself with insurances
Insurances are always a good precaution, as you never know what may happen. You may be taken so ill you cannot work, your car may be stolen or perhaps your home will burn down. These things might not happen, but if they do, insurances provide you with the financial help and advice you need most.
An insurance can cover many things
You can insure almost everything, some of the best-known insurances being car insurance, contents insurance and accident insurance. When you buy a specific insurance such as car insurance you insure your car against theft and damage, while a contents insurance covers your belongings and an accident insurance covers you.
You have to hold certain insurances in Denmark
Insurances are convenient - especially when an accident occurs. However, it is actually often up to you whether you want a particular insurance or not. On the other hand it is a statutory requirement to hold an insurance if you own certain objects or pets.
Statutory insurances in Denmark:
- Third-party car insurance
- Third-party motorcycle insurance
- Third-party moped insurance (incl. scooters)
- Comprehensive motor insurance for your vehicle if you bought it with a loan
- Fire insurance (often part of house insurance) if you bought the house with a loan
- Third-party dog insurance
- Third-party horse insurance
An insurance covers your liability
If you or your pet inadvertently injure other people or damage vehicles or objects, it is up to you as the owner to pay for the damage for which you are liable.
If your car collides with a cyclist or your dog bites a hole in the postman’s trousers, then it is your responsibility to pay for the damage – unless you are insured, in which case the insurance will pay.
An insurance reassures the moneylender
Banks and financial institutions will almost certainly ask you to insure your new house or car if you bought it with a loan. The insurance reassures the moneylenders that they will get their money back, even if your house burns down or your car is stolen.
The biggest risk when buying a home is house fires. It is thus important to have a fire insurance (often in the form of a house insurance), so neither you nor the bank loses money. While financial institutions request that you secure their investment with a house insurance, it is actually essential for you as a homeowner, securing you against loss of everything you own in a fire – your investment, your home and your belongings.
Often, when you buy a car with a loan the moneylender will ask you to take out a comprehensive motor insurance, even though this is not a statutory requirement. They will ask for this because a third-party insurance does not cover theft or damage to the car itself. A comprehensive car insurance not only protects the moneylender’s investment but also safeguards your vehicle in the event of theft, a crash or other kinds of damage.
We want to take care of you
If you are unsure whether you have the proper insurances and covers, please feel free to read more about insurances here or contact our Customer Care Service. We really want to take good care of you and make sure you are properly covered in all situations.