Selecting the right insurance provider in Sweden can be overwhelming with numerous options available, each with different coverage levels, premiums, and customer service experiences. To help you make an informed decision, we've conducted a comprehensive analysis of the major insurance companies in Sweden for 2023, focusing on car and property insurance offerings.
Our comparison examines pricing, coverage options, customer satisfaction, digital services, and special benefits to help you identify which insurer might best meet your specific needs.
Major Insurance Players in the Swedish Market
The Swedish insurance market features a mix of traditional mutual companies, bank-affiliated insurers, and international corporations. Here are the major players we've analyzed:
Länsförsäkringar
A federation of 23 regional insurance companies with a strong focus on local presence and service. As a customer-owned company, they operate as a mutual insurance group, meaning profits can be distributed back to policyholders.
If
Part of the Nordic Sampo Group, If is one of the largest insurance companies in the Nordic region with a reputation for comprehensive digital services and streamlined claims processes.
Folksam
A mutual insurance company with close ties to various unions and organizations, offering group discounts to members of affiliated associations.
Trygg-Hansa
Owned by the international RSA Insurance Group, Trygg-Hansa offers a wide range of insurance products with strong international backing.
ICA Försäkring
Connected to ICA supermarkets, this relatively new player offers discounts and benefits tied to ICA's customer loyalty program.
Moderna Försäkringar
Part of the Danish Tryg Group, Moderna focuses on specialized insurance products with competitive pricing.
Car Insurance Comparison
Premium Costs
For our comparison, we analyzed premiums for a standard profile: a 45-year-old driver with a 2019 Volvo V60 living in Stockholm with 5 years of claim-free driving. Here's how the annual premiums for comprehensive coverage (Helförsäkring) compared:
- Folksam: 3,800 - 4,200 SEK (higher base rate but substantial discounts for union members)
- If: 4,000 - 4,300 SEK (competitive base rate with good loyalty discounts)
- Länsförsäkringar: 4,100 - 4,500 SEK (slightly higher premiums but strong coverage)
- ICA Försäkring: 3,700 - 4,100 SEK (among the lowest base premiums)
- Trygg-Hansa: 4,200 - 4,600 SEK (premium pricing but comprehensive coverage)
- Moderna Försäkringar: 3,600 - 4,000 SEK (most competitive base rates)
Key price factors across all insurers include:
- Age and driving history (younger drivers pay significantly more)
- Vehicle make, model, and age
- Geographic location (urban areas typically cost more)
- Annual mileage
- Membership discounts (union, bank customer, etc.)
Coverage Quality
While all companies offer the standard levels of Trafikförsäkring (mandatory third-party), Halvförsäkring (semi-comprehensive), and Helförsäkring (comprehensive), important differences exist in specific coverage elements:
Standout Coverage Features by Company
Länsförsäkringar:
- Superior new car replacement coverage (replacement with new equivalent if car is under 2 years old and has less than 40,000 km)
- Excellent machine damage coverage for newer vehicles (up to 10 years/150,000 km)
- Generous rental car provision during repairs (up to 65 days)
If:
- Strong glass coverage with no deductible for repairs (vs. replacement)
- Attractive "Help" coverage that includes towing, accommodations if stranded, and transportation home
- No deductible for wildlife collisions
Folksam:
- Excellent all-risk coverage for personal belongings in the vehicle
- Strong child safety equipment coverage
- Crisis therapy coverage included standard
Trygg-Hansa:
- Premium roadside assistance program
- Higher limits for personal property in vehicle
- Extended coverage for electric vehicle components
ICA Försäkring:
- Lower deductibles than market average
- Bonus points in ICA's loyalty program
- Strong allrisk coverage
Moderna Försäkringar:
- Specialized coverage options for performance vehicles
- Extended mileage provisions
- Competitive mechanical breakdown coverage
Digital Services and Claims Handling
The quality of digital services and claims handling efficiency varies significantly:
If: Leads the market with their mobile app and digital claims process. Their "If Report" feature allows photo documentation and claim filing within minutes, with claims often approved within hours. Their digital dashboard provides real-time claim tracking.
Länsförsäkringar: Strong combination of digital capabilities and local service presence. Their app offers good functionality, but their strength lies in having physical offices throughout Sweden for in-person claims handling when preferred.
Trygg-Hansa: Good digital portal with video claim assessment technology. Their "Visual Claims" feature allows real-time video streaming with adjusters to expedite claims.
ICA Försäkring: Integration with ICA banking app provides convenience but more limited insurance-specific functionality compared to specialists.
Folksam: Improving digital services but still lags behind leaders. Traditional strengths in phone and in-person service rather than digital innovation.
Moderna Försäkringar: Functional digital platform but less comprehensive than industry leaders.
Property Insurance Comparison
Premium Costs
For property insurance, we compared rates for:
- A standard three-bedroom apartment (80m²) in Stockholm (Hemförsäkring with Bostadsrättstillägg)
- A detached house (150m²) near Uppsala (Villaförsäkring)
Apartment Insurance (annual premiums):
- Folksam: 1,400 - 1,700 SEK
- Länsförsäkringar: 1,500 - 1,800 SEK
- If: 1,600 - 1,900 SEK
- Trygg-Hansa: 1,700 - 2,000 SEK
- ICA Försäkring: 1,300 - 1,600 SEK
- Moderna Försäkringar: 1,350 - 1,650 SEK
House Insurance (annual premiums):
- Folksam: 3,800 - 4,200 SEK
- Länsförsäkringar: 4,000 - 4,400 SEK
- If: 4,100 - 4,500 SEK
- Trygg-Hansa: 4,300 - 4,700 SEK
- ICA Försäkring: 3,600 - 4,000 SEK
- Moderna Försäkringar: 3,700 - 4,100 SEK
Coverage Quality
In property insurance, coverage differences are more pronounced than in car insurance:
Standout Coverage Features by Company
Länsförsäkringar:
- Superior water damage protection with higher coverage limits
- Better coverage for outbuildings and land improvements
- Strong pest coverage included standard
Folksam:
- Excellent identity theft protection
- Higher limits for valuables without itemization
- Strong travel insurance component included in home policies
If:
- Best-in-class all-risk coverage for personal property
- Superior liability protection limits
- Strong legal expense coverage
Trygg-Hansa:
- Extended coverage for high-value electronics
- Premium coverage for home systems (HVAC, electrical)
- Generous coverage for temporary accommodations after loss
ICA Försäkring:
- Competitive pricing with good basic coverage
- Integration with ICA bonus program
- Lower deductibles than industry average
Moderna Försäkringar:
- Specialized coverage options for technology and smart homes
- Good coverage for home business equipment
- Competitive pricing for basic coverage
Customer Satisfaction and Service Quality
Based on the latest Swedish Quality Index (Svenskt Kvalitetsindex) and consumer surveys:
Car Insurance Satisfaction Rankings
- Länsförsäkringar: Highest overall satisfaction, particularly strong in claims handling
- If: Top ratings for digital service and accessibility
- Folksam: Strong ratings for loyalty benefits and value
- ICA Försäkring: Good ratings for pricing and simplicity
- Trygg-Hansa: Mixed ratings, strong for coverage breadth but lower for customer service
- Moderna Försäkringar: Competitive on price but lower ratings for support and service
Property Insurance Satisfaction Rankings
- Länsförsäkringar: Highest ratings for property claims handling and overall satisfaction
- Folksam: Strong ratings especially among union members
- If: Well-rated for digital service and claim processing speed
- Trygg-Hansa: Good ratings for comprehensive coverage but lower for price satisfaction
- ICA Försäkring: Competitive on value metrics
- Moderna Försäkringar: Lower overall satisfaction but improving
Special Discounts and Loyalty Programs
Understanding available discounts can significantly impact your insurance costs:
Multi-Policy Discounts
All companies offer discounts for bundling multiple policies, but the amounts vary:
- Länsförsäkringar: Up to 15% for three or more policies
- If: Up to 15% scaling based on number of policies
- Folksam: Up to 10% for multiple policies
- Trygg-Hansa: Up to 15% for three or more policies
- ICA Försäkring: Up to 10% plus ICA bonus points
- Moderna Försäkringar: Up to 12% for multiple policies
Membership and Affiliation Discounts
- Folksam: Strongest in this category with discounts of 10-25% for members of affiliated unions and organizations
- Länsförsäkringar: Discounts for bank customers and local organizational affiliations (varies by region)
- If: Partner discounts with various employers and organizations
- ICA Försäkring: Integration with ICA Bonus program, higher loyalty levels mean better insurance rates
Loyalty Programs
- If: "If Loyalty Plus" program with increasing benefits for each year you stay insured
- Länsförsäkringar: Customer-owned structure means potential dividends in profitable years (varies by region)
- Trygg-Hansa: Anniversary discounts at 3, 5, and 10 years
Claim-Free Discounts
The Swedish bonus system rewards claim-free driving, but companies differ in how quickly your bonus level increases and what protection they offer for your first claim:
- If: Fastest bonus progression and "bonus protection" after 3 years
- Länsförsäkringar: Strong bonus protection features that protect your discount level after your first claim
- Folksam: Good bonus system but slower progression than some competitors
Who Should Choose Which Company?
Based on our comprehensive analysis, here are our recommendations for which company might best suit different customer profiles:
Best for Families with Children
Folksam - Their policies include several family-friendly features like higher coverage for children's belongings, strong coverage for baby/child equipment in vehicles, and excellent crisis support services.
Best for Homeowners
Länsförsäkringar - Their property insurance offers superior coverage for water damage (a common homeowner claim), excellent outbuildings coverage, and strong natural disaster protection. Their customer-owned structure also means potential dividends in profitable years.
Best for Urban Apartment Dwellers
If - Their digital-first approach, strong all-risk coverage for belongings, and excellent identity theft protection make them well-suited for urban lifestyles. Their travel insurance component is also among the strongest.
Best for Tech-Savvy Customers
If or Trygg-Hansa - Both offer excellent digital tools, with If having the edge on mobile functionality and Trygg-Hansa offering innovative features like video claim assessment.
Best for Budget-Conscious Consumers
ICA Försäkring or Moderna Försäkringar - Both consistently offer lower base premiums. ICA's integration with their grocery loyalty program provides additional value for regular ICA shoppers.
Best for Union Members
Folksam - Their deep relationships with Swedish unions translate to substantial discounts (often 15-25%) for members of affiliated organizations. If you belong to a union, check if Folksam offers special rates.
Best for Luxury or Performance Vehicles
Moderna Försäkringar or Trygg-Hansa - Both offer specialized coverage options for high-value vehicles with more generous terms for original parts and specialized repair options.
How to Make the Final Decision
While our analysis provides a starting point, insurance needs are highly personal. We recommend these steps before making your final decision:
1. Get Personalized Quotes
Our price ranges are indicative, but your specific situation may yield different results. Request quotes from at least 3 companies that seem to match your needs.
2. Check for Affiliation Discounts
Before finalizing any policy, check if you qualify for discounts through:
- Union membership
- Bank customer relationships
- Alumni associations
- Professional organizations
- Employer group discounts
3. Read the Fine Print
Pay special attention to:
- Exclusions and limitations
- Deductible amounts
- Claim process requirements
- Valuation methods for property and belongings
4. Consider Long-term Value
The cheapest policy isn't always the best value. Consider:
- Claims handling reputation
- Customer service quality
- Digital tools if important to you
- Long-term price stability (some insurers offer low initial rates that increase substantially at renewal)
Conclusion
The Swedish insurance market in 2023 offers a range of strong options for consumers, with each company having distinct strengths and target audiences. While Länsförsäkringar and If lead in overall customer satisfaction, other insurers may offer better value for specific customer profiles or needs.
Remember that the best insurance company for you depends on your individual circumstances, preferences, and priorities. Take the time to research your options, get personalized quotes, and carefully compare coverage details before making your decision.
If you need personalized guidance navigating the Swedish insurance landscape, our team of experts is here to help. Contact us for a free consultation to find the perfect insurance match for your specific needs.