Swedish experts advise switching insurance providers amid rising costs

Experts from the Swedish Financial Supervisory Authority (Finansinspektionen) and the Consumers' Insurance Bureau are advising consumers to consider switching insurance providers due to significant price increases in recent years.

Data from Compricer indicates that car insurance premiums rose by an average of 5.3 percent between 2024 and 2025. Similar upward trends have been observed in home and pet insurance, with a general increase in costs noted since the pandemic. Moa Langemark, a consumer protection economist at Finansinspektionen, warns of 'price walking,' a practice where loyal customers may end up paying more than new customers.

While switching can be beneficial, experts caution that insurance products are not as easily interchangeable as mortgages. Consumers are encouraged to review their coverage to ensure they are not paying for unnecessary policies and to verify that lower premiums do not come with disproportionately high deductibles.