Yes, of course it does 🙂 but do you know what else needs to be insured to be on the road in Sweden?
Here is a list of other vehicles that must have motor third party liability insurance if they aren't registered as 'off-road':
There are exceptions to the list, for example if the vehicle is only driven on an enclosed track and not on the road.
If you have a vehicle that isn't insured, TFF - the Swedish Motor Insurers Association - will charge you a fee per day which works out far higher than insurance premiums would be.
If you have any questions, get in touch with TFF and check out their English website: https://www.tff.se/en/
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Interesting bits and pieces about life in Sweden, including all-important song words.