Healthcare, vehicle insurance (certain E-bikes included), unemployment and invalidity insurance, mandatory pension contributions, social security, etc. are all under the watchful eye of the state. If you are working, then most of your cover is in place. However, in our consultations, we have found that the most underinsured are the stay-at-home partners, as they do not benefit from company sponsored insurance protection.
Our advice, take personal stock of your situation, avoid duplication in any cover and only cover that which you truly need. This is best done in partnership with an expert.
Personal liability insurance
You are in beautiful Switzerland… the sun is shining, the boxes are unpacked and you are admiring the beautiful white walls of your new apartment (are all walls white in Swiss homes?)… you slowly move towards your child’s bedroom (which is strangely a bit too silent), pop your head around the corner and then… aaaahh! Your little angel has discovered a permanent marker and is redecorating!
This is one of the most common non-mandatory insurances to give you a certain peace of mind. Also known as “Mieterschadenversicherung” (renters-damage-insurance), it protects you against third party claims and would come to use in the example above! Any accidental damage done to any third party is therefore covered. You love to kick a ball around? Whoops, break someone’s window or worse, his nose, you will be glad you have this cover in place!
Commonly, two further risks are covered by one policy. These are theft outside and household content.
Theft outside covers you for the loss of your property outside of your home. Most common things that go: cameras, phones, bicycles, etc.
Household content can be described as the replacement value of all the goods you own. They are insured against: theft, water damage and fire. With this cover in place, damage caused by a burglar is also covered.
The old saying however remains true: You cannot insure a burning house!