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The key things you need to know about car insurance in Norway

Thinking about getting on the road in Norway but not sure where to start when it comes to car insurance? We’ve got you covered. 

The Atlantic Road in Norway.
Thinking about getting a car in Norway but have no idea where to start when it comes to insurance? Pictured is the Atlantic Road in Norway. Photo by Alexander Sinn on Unsplash

Who needs to be insured? 

Everyone who owns a car in Norway must buy third party cover when registering their vehicle. This is compulsory and will cover any damage your car may cause to other people or property in the event of an accident.

This compulsory insurance is called ansvarsforsikring. However, other policies can be combined with this basic third-party insurance.

Additionally, your insurance certificate should be kept in the car at all times. If you own a registered fee for a vehicle that is yet to be insured, you will have to pay a fee of 150 kroner for every day that the car isn’t insured.

What types of policy are there?

In addition to the compulsory third-party insurance, a few different policy types are available, depending on your needs.

The other policies available are reduced damages insurance, which covers fire, theft, damage to the glass and roadside assistance cover for your car, in addition to the basic liability insurance. This is called delkasko. 

Then there is comprehensive motor insurance which covers damage to your own car in connection with a collision as well as the possibility of a courtesy car if needed. This is referred to as kasko and includes everything covered in delkasko insurance too. If you have taken out a loan to purchase the vehicle, then banks and lenders will typically require motorists to have this coverage on their car. 

For those looking for the most complete coverage available, there is super-comprehensive or superkasko insurance, which will cover mechanical damage depending on the age and mileage of the car.

How much does insurance cost? 

Several factors such as where you live or the type of car you drive will affect the overall price, as well as your driving history and policy type. For example, if you own an expensive car and live in the city, where more accidents happen, your insurance will probably be higher than if you own a cheap car and live in a rural area.

More comprehensive policies are also more expensive than basic cover for obvious reasons. Other factors influencing the price are how often you plan on using the car. Age is also a factor, with insurance costing considerably more for people under 24 and those aged over 70 more.

Still, it is estimated that the average cost of insuring a car in Norway is around 15,000 kroner annually, although what you pay can fluctuate greatly.

How to get the best deal

There are a few tips and tricks you can employ to get the best deal. Firstly, there is the tried and tested method of using a comparison site to shop around. Tjenestetorget and Forsikringer.no are two of the most popular sites for comparing quotes in Norway.

If you have recently moved to Norway and have a no-claims bonus in the country you have come from, it is possible to try and get this carried over to your new insurer. To do this, you will need a letter outlining how many years you have been insured without claiming from your old provider.

For those with a mortgage or loan, banks will typically offer competitive insurance deals to those who are already customers with them. Therefore, it may be worth taking out all your insurance and banking needs with one provider for the best overall deal. 

Another way of securing cheaper car insurance overall is paying a larger excess. The excess is what you pay towards repairs or to make a claim. Paying a higher excess can help secure a cheaper insurance policy overall.

And finally, you can secure a deal through union membership or through your pension provider. Union organisations and pension firms usually have exclusive deals on insurance only available to members.

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For members

DRIVING

EXPLAINED: How owning an electric car in Norway could change

More and more motorists in Norway are ditching the petrol pumps and going all-electric. However, several changes could be introduced, which would significantly affect the cost and the practicality of owning an electric car.

EXPLAINED: How owning an electric car in Norway could change

More than half of all new cars sold in Norway are electric vehicles, and recently the government has introduced or announced several proposals which affect EV owners. 

Unfortunately, most changes put forward by the government will make it more expensive to own an EV. However, they have said they will look into one thing which would make owning an electric car much more straightforward. 

READ MORE: What you need to know about owning an electric car in Norway

Government to consider scrapping toll road and tax discounts

Toll deductions for electric cars could be reduced or scrapped as the country’s transport ministry is concerned public transport ministry is losing out to low-emission vehicles. 

A law previously passed by parliament holds that electric cars should never incur more than 50 percent of the tax applied to petrol and diesel equivalents.

But reduced public transport revenues related to higher electric car use, as well as lower intakes from tolls around Oslo because the rate paid by electric cars is lower, are causing the government to rethink, NRK reports.

“It’s great that people use electric cars. But we are not well served by people getting into their cars and drive into busy city areas instead of walking, bicycling or taking public transport,” Nygård said. 

READ MORE: Why owning an electric car in Norway could become more expensive

Re-registration fee introduced

At the beginning of May, it became more expensive for used EVs to change hands. Every time a used electric car is sold, a re-registration fee of up to 1,670 kroner will need to be paid. 

The cost will depend on the car’s age, with the fee being cheaper for older EVs. The re-registration charge is also 75 percent cheaper for electric vehicles than regular ones. 

The government hasn’t explicitly outlined whether this discount could be reduced in the future. 

Tolls in Oslo to go up

Various outlets report that the cost of driving within Oslo’s toll roads will go up twice, once in September 2022 and then again in January 2024. 

The toll hike was agreed upon as part of the third Oslo package. Oslo City Council and Akershus County Council must officially approve the agreement. 

If discounts on tolls are axed or decreased, electric car owners will be hit even more by the increases. 

VAT on electric cars could be announced in the revised budget for 2022

MVA or VAT could be introduced when the government presents its revised national budget for 2022 in mid-May, experts have predicted. 

The government proposed introducing a VAT on electric cars that cost more than 600,000 kroner when it was formed last October. VAT on vehicles is calculated based on several factors

The introduction of VAT didn’t come in the new year as expected, but now industry experts are anticipating its announcement in the revised budget.  

The Norwegian Automobile Federation (NAF) has told online publication Nettavisen that it expected VAT to be introduced eventually. 

Charging could become simpler

The government will look into making charging easier by making sure a universal payment method is adopted, Transport Minister Jon-Ivar Nygård has told newspaper VG

Currently, you cannot use one universal payment method, app or card to pay for all fast chargers in Norway. 

“It looks like it is necessary,” Nygård said of a standard payment method for charging to VG. 

The transport minister added that a solution wouldn’t be introduced until next year at the earliest. This autumn, the government will present a new strategy for electric car charging. 

Tesla to allow other models to use the Supercharger charging network

Tesla has launched a pilot project which opens its Supercharger network to non-Tesla vehicles. 

58 stations are open to non-Tesla cards, with plans to open more stations and charging posts to other vehicles in the future. 

Owners of non-Tesla vehicles pay more than Tesla owners for charging. However, the cost is still on par with other charging stations, technology news site Tek.no reports. 

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