How to insure yourself when you are owner in Switzerland ?
July 12, 2019
If you’ve just become an owner and are wondering about the different insurances to subscribe, then you should read this article to the end. Indeed, it is better to check that you are well insured. Even if I do not wish you, no one is safe from a disaster and prevention is better than cure.
The owner's insurance:
First of all, you have to take a homeowner's insurance. It is therefore wise to compare several insurance companies in order to obtain the best guarantees at the best price. Among those to ask for there is water damage, theft, problems resulting from technical installations ... In any case, it’s very important to look carefully at the conditions of refund and the amount of compensation.
The insurance against damage related to natural events:
This insurance is compulsory in the majority of Switzerland’s cantons. In addition, you should know that you don’t have the choice of the insurance company (except in Geneva, Ticino and Valais). It is a cantonal company that holds the monopoly. This insurance covers all claims related to a natural disaster. For instance a flood, a storm, hail, landslides .... In these circumstances, the consequences can be dramatic for your home hence the need to be covered.
Household insurance is not compulsory in Switzerland. On the other hand, it is recommended to insure your home and your goods.
You can also add a building legal protection. The latter protects you from possible neighborhood conflicts.
Insurance against financial losses is interesting if you can’t live in your property anymore. Because of a fire for example, it will be necessary to find another place during the works. If you have taken out this insurance beforehand, then part or all of the rents will be paid by the insurer; just like the interests of the credit.
If you rent your property, there is an insurance which guarantees you an income even if the tenant doesn’t pay. It costs a percentage of the rent but it is quickly amortized if the tenant doesn’t pay the rent. Furthermore, do not forget to ask your tenant for a certificate of civil liability to ensure that it is well covered in case of damage to others.