Heat pump insurances

Insurance is always a bit tricky and a challenge with what they cover and don't cover. A normal home insurance or villa insurance does not cover the costs of the repair of a heat pump. With some insurance companies it is possible to extend the insurance to cover these expenses, but a better choice is to purchase the insurance from the manufacturer or supplier of the heat pump. If your heat pump leaks or catches fire, your home insurance usually covers the damage to your house or someone else's property, but not the heat pump.

There are companies that specialize in this and provide more comprehensive insurance.

Arctic Insurance Brokers

https://www.arctic.se/


Security insurance

An additional insurance is an insurance you add to extend your guarantees and ensure that you get help if something happens. You can usually buy this through your chosen retailer.

Arctic Värmpumpsförsäkringar is the largest on the market in extended heat pump insurance.

Since 1999, Folksam has kept damage statistics for heat pumps. According to the surveys, it appears that approximately 20% of all Sweden's detached houses are heated with a heat pump. In the same report, it can be concluded that injuries have increased significantly in recent years. Based on these statistics, there may be a need for extra security as a consumer and heat pump owner should the damage occur.

Trygghetsförsäkring, which is a deductible, was initially developed in close collaboration with SVEP. The insurance is offered to private as well as legal entities and in most cases can be extended annually for additional security.

Extend security

As it stands today, an offer is automatically sent to your home approximately one month before the 6-year insurance period expires. The offer includes a payment notice where, if you choose to renew the protection on your heat pump, you simply pay the premium annually.

If in doubt about whether you need to extend the insurance or not, we recommend that you consult your home/home insurance company for information regarding the size of the deductible and which age deduction applies when the pump is more than 6 years old.

Brand Warranties

Different brands' warranties are valid for different lengths of time and sometimes for different parts. Recognized brands often have better warranty times and greater scope for what the warranty covers. Below follows more specifically what the different brands' warranty variants mean.

Most common warranty periods:

  • 5 years
  • 6 years
  • 10 years

Dealer and Installer Warranties

Something that is always important to look at is whether your dealer or installer is authorized to install the heat pump from a specific brand. It can sometimes be a requirement for the guarantees to apply from the Suppliers. If it is an authorized supplier with all authorizations and agreements with the Supplier, this means that you receive the full guarantees offered. What you should not forget is to ensure whether your Installer provides any guarantees of his own for his work. It would be a mark of quality if a serious Installer, in addition to the usual guarantees, leaves a security on the work performed.

What does my home insurance cover?

Your home insurance usually covers faults with the heat pump even after the warranty period has expired. However, there is a so-called age deduction which means that the compensation you receive in the event of a fault becomes smaller the older the heat pump is. The value decreases by a certain percentage with each passing year. Sometimes there can be value in taking out an add-on to your home insurance so that machine damage is included, or alternatively buying a security guarantee through your dealer that extends the guarantee period.  

The insurance company reimburses you for the purchase of a new heat pump or for what it is estimated to cost to repair the fault.


Install your heat pump yourself - Not recommended

If you install your heat pump yourself and do not hold the correct certificate and authorization as a professional, you can be held responsible if the pump somehow breaks. This leads to you either receiving a rejection of your insurance case or a large deduction. Always contact someone who holds the correct certificate to ensure that your warranty and insurance will apply.

It happens that house owners install their heat pump themselves, even though they do not have the required skills. If the reason your heat pump has broken down is that you performed an incorrect installation yourself and did not seek the help of the required professionals, you can receive a juicy deduction from the compensation from the insurance company, or perhaps no compensation at all.