A private insurance will help you avoid unpleasant financial surprises. If you, your family and property are insured, it will help you face the consequences of unfortunate situations such as experiencing or causing an accident or becoming subject to water damage, theft or burglary.
Private insurance coverage can be purchased at a variety of Danish insurance companies. In Denmark, there are three compulsory insurances:
- Third party liability - if you own a motor vehicle
- Third party liability - if you own a dog
- Workers' compensation - if you are an employer
Apart from these three, you have freedom of choice when it comes to insuring you and your family. You can consult your preferred insurance company for further information.
The most common coverage is home insurance. This type of insurance covers all your belongings such as clothing, furniture and technical equipment such as laptops, television and so on. This entails that the price of the home insurance will correspond to the value of your belongings.
Some companies call the home insurance a family insurance (familieforsikring) as all family members who are registered on the address of the insurance policy holder are covered by the insurance.
Personal liability insurance (ansvarsforsikring) is usually a part of the home insurance in Denmark. This type of insurance covers damages you may have caused to other people or their property. It is strongly recommended to have a personal liability insurance.
Another very common and important type of private insurance covers accidents. The coverage falls into two different categories: a basic and an extended accident insurance.
The basic insurance provides you compensation for injuries or disablement you should suffer, due to an accident caused by others or external events. It is always possible to extend this insurance for situations where you or your family suffer injuries that are not necessarily caused by others.
It is required by Danish law that you have a liability insurance policy if you own a car. It covers damages you may cause to other persons or their property. In addition to this, Danish insurance companies offer a series of additional types of optional insurances if you own a car, a bike or a house – and a wide variety of other scenarios.