Home insurance (husforsikring) isn’t mandatory in Norway. However, most people who own an apartment or a house take it out due to the numerous benefits associated with insurance coverage.

There’s a reason why homebuyers are strongly advised to take out home insurance – in the unfortunate event of a flood or fire, you’ll be very glad that you picked it up.

In this article, we will go through what home insurance usually covers, the difference between home insurance and home contents insurance, the typical costs of home insurance in Norway, and several other things that any prospective homeowner should know.

What is usually covered by home insurance in Norway?

Based on the home insurance offers from leading providers in Norway -such as If, Gjensidige, and Tryg – this type of insurance usually covers natural damages (think floods, lightning strikes, rot and fungi, and fires), as well as mechanical damages (like damage resulting from busted water pipes) to your home.

A key distinction you need to remember is that home insurance covers only the building, that is, permanent structures; it doesn’t cover the things inside. Your belongings are usually covered through a different insurance, called home contents insurance (innboforsikring).

Think of it like this – if anything physical happens to your home, like a fire, home insurance will cover the damage to permanent structures, such as the walls. On the other hand, the home contents insurance would cover the items you need to replace.

Homeowners in Norway usually take out both home insurance and home contents insurance.

While these general coverage guidelines apply to most insurance companies, make sure to check the individual packages that different providers offer – as there are several individual differences in coverage.

What is the typical cost of home insurance in Norway?

The cost of home insurance is related to multiple factors – with the location where you’re taking out insurance and the value of the property in question being among the more important ones.

Expect to pay north of 6,000 or 7,000 kroner a year for home insurance. The online insurance information service Forsikringsmart provides readers with a range between 6,000 and 25,000 kroner.

In order to get a more accurate price range, use the home insurance calculator at Finansportalen, a service provided by the Norwegian Consumer Council.

The service will generate an indication of price and also give you a valuable overview of union and association memberships that can give you a discount on home insurance.

Furthermore, all the big insurance companies also have their own online insurance calculators that you can use – most will require identification or the address of the property in question in order to be able to present you with an approximative (and non-binding) offer.

Differences: Houses vs apartments

Generally speaking, if you own an apartment within a building, the building will usually already be insured through the housing association’s or condominium’s joint home insurance.

If you live in any shared or cooperative housing in Norway – which is quite widespread in the country – home insurance will usually be included in the monthly joint shared costs (fellesgjeld) or other similar payments.

So don’t make the mistake of paying for the same thing twice.

However, don’t just assume that you’re covered – read up on the terms of the agreement that regulate your rights and obligations in your home to make sure.

If you end up discovering that your home isn’t covered, then explore the options available on the market.

Do I need home insurance if I’m renting?

If you’re a tenant living in a place that you’re renting, then the insurance responsibility falls on the person who rented you the apartment or house, i.e., your landlord.

Of course, you will be held accountable if negligent or dangerous behaviour leads to significant damages, but if your home is affected by natural damages (such as a flood or fire), you won’t have to bear the responsibility.

It’s a good idea to take out home contents insurance even if you’re renting out a place just to ensure that your belongings are insured.

Next steps

Now that you know what home insurance is, including what it does and does not cover, all that’s left is to check whether you’re already covered through your housing association.

If you are, then you shouldn’t worry about natural disasters or extreme weather wrecking your home.

On the other hand, if you aren’t insured, use the Consumer Council’s Finansportalen to get a good overview of the insurance providers and the market.

You can also do your research by visiting the websites of the big insurance companies in Norway.

If, Gjensidige, Tryg, and Storebrand are all household names in Norway, but make sure to also explore other options.