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How does your insurance really work?

How does your insurance really work?

According to a survey from 2014, 95% of all households in Sweden had home insurance. In the same year
, insurance companies paid out almost SEK 51 billion for insurance claims (life insurance not included), and SEK 86
billion for life insurance and pensions.


Although most of us have some type of insurance,
few actually understand how it works and knows the details of the insurance contract. Each insurance has
its own function, but there are some common aspects that are shared by all. Some of these are explained


It is important to understand the concept of insurance before delving into the details. An insurance policy is a way
of spreading personal or for a company financial risks to a large number of other people and
companies. The cost of insurance is usually paid monthly, quarterly, or annually to an
insurance company. It is then a matter of buying security against a special risk. Vehicle insurance gives
you, for example, financial compensation if you should have an accident with the insured vehicle.
However, the fee is paid even if no accident should ever occur.

The structure of the insurance

An insurance policy consists of three parties: The person who takes out an insurance policy is called a policyholder. The person who
offers the insurance, for example, an insurance company in Stockholm, is called an insurer. Finally, there is the insured object, which in the case of a life insurance policy can be the same as the policyholder.


When you take out insurance, the insurer makes a risk assessment and then sets a premium,
which is the amount you pay for your insurance. If the policyholder chooses to accept a certain
deductible, ie that you are responsible for minor damages, the premium may be smaller.

Different types of insurance

Insurance is divided into two different categories: life insurance and non-life insurance. Life insurance is
about various forms of survivor protection and pension insurance, while non-life insurance gives you protection
in the event of, for example, fire, theft, or damage. Common non-life insurance policies are home insurance and motor third-party liability
insurance. Income insurance is taken out to ensure a continued stable income if
you become unemployed. You can find all these insurances with insurance companies in Stockholm.
If you want to take out good income insurance in Stockholm or elsewhere, you can turn to
Accept. They offer private income insurance that works as a complement to the unemployment insurance fund. More
information about the insurance can be found on Accept’s website.

“The text above is written for online marketing purposes. The opinions are the author’s own and do not necessarily reflect the opinions of Accept “

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