How much you will have to pay for car insurance in Norway depends on many factors. The most important factors are: type of insurance and deductible, mileage, bonus, age and place of residence, and discounts.
Each insurance company has its own valuation services differently and finding your way around the offers the market can be difficult.
Type of insurance and scope of insurance
Insurance companies offer 3-4 types of insurance to choose from.
Third party liability insurance (Ansvarsforsikring) is the cheapest insurance. This is compulsory insurance and covers legal assistance and costs related to damage to other people and their cars in the event of an accident.
Partial and comprehensive insurance (Delkasko and Kasko) are slightly more expensive motor insurance. These vary from company to company. Partial insurance often covers theft, fire and vandalism, while comprehensive insurance (Full Kasko) also covers other damage to the car, as well as roadside assistance.
It quite often happens that companies have a fourth option, the so-called extended insurance or super insurance. This may, for example, cover costs car rental, damaged luggage, or even a break in your holiday as a result of an accident.
Also read: Switching to winter tires: Good tires are a key element of safety
Own contribution
When signing the insurance contract, you can choose how high a "deductible" you want to obtain. Your excess is the amount of money you have to pay yourself if, for example, your car needs to be taken to a repair shop after an accident. If the total cost of the workshop work is NOK 20 and you have chosen a deductible of NOK 000, you must yourself cover the NOK 6000 bill for the workshop and the insurance company pays the remaining NOK 14.
The rule is simple: if you have a higher deductible, your insurance will be cheaper. If you want a lower deductible, the insurance will be more expensive.
Annual mileage affects the price of car insurance
The distance you travel in a year also affects the price. Insurance companies believe that if you drive a lot, your risk of damage is greater and that's why if you have one high annual mileage price insurance will be higher.
Of course, if you only use your car for short distances, there is a risk of accidents or damage to the car is smaller, so the insurance company can offer a lower price.
Bonus
Over time, you will receive a bonus from the insurance company, provided that it is a claim-free driving experience. The bonus may be, for example:. 40%, but unfortunately this does not mean that you will receive a 40% discount on your insurance. The amount of the premium on your bill varies depending on the insurance company.
Of course, you can save a lot by driving carefully. Your bonus increases for each year without claims and may also be reduced in the event of an accident. The highest bonus is usually 75-85% and takes several years to earn.
Driver's age
Which age group you fall into also affects the price of your car insurance. Young people under 25 years of age and people over 60 are often considered higher risk and therefore have to pay more for insurance. Best the situation looks like this in drivers aged 30 to 60. This is related to insurance companies' risk insight, which states that statistically the safest drivers are people aged 30-60, and there is little that can be done about it.
A possible tip for new drivers under 25 is to get your parents covered. The disadvantage of this is that you lose the bonus you have saved.
Place of residence
Place of residence maybe influence the price offer, which you will receive from the insurance company. Companies often have statistics on where accidents occur frequently and where injuries are less likely. In some places the roads may be more dangerous or the weather may be more challenging. It is also possible to distinguish the risk in densely built-up areas and rural areas.
Anyway you should knowthat your car insurance may be more or less expensive if you move. This is why Rememberto check the insurance price again if you change your place of residence.
Samlerabatter, i.e. collective discounts
Such discounts are sometimes profitable for you as a customer, but sometimes they are just tempting offers.
The concept of bulk discounts is that an insurance company gives discounts to those customers who have several policies at the same place. This may mean that the total amount will be lower if, for example, you have one or more car insurance, property insurance or disability insurance with the same company.
But there is no automation here, because it actually results in more favorable offers for you. To make sure you get the best price, you need to compare offers from several companies.
Associations, clubs, federations
What if you are a member of an association, club or federation?
Many associations and federations (Foreninger and Forbund) enter into agreements with insurance companies for discounts or other benefits. This is where you can sometimes save money. A good tip is to check what options are available where you are a member.
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Also read: Switching to winter tires: Good tires are a key element of safety
