What you need to know about insurance policies in Switzerland

AT A GLANCE

Some types of insurance are compulsory in Switzerland – such as health insurance.
If you drive a vehicle, third-party liability cover is mandatory.
Most types of insurance are voluntary, but many prove to be very much worth having.

For your car. For your house. For everything in it. For illness. For old age. For eventualities. And for winning your case. There are many types of insurance policy. And just as many questions about them. Do you really need them all? Is there an insurance obligation? Which insurance policies are obligatory in Switzerland? And which are voluntary, but still useful?

We have the answers for you here.

Obligatory insurance policies

Some insurance policies are obligatory in Switzerland. For these kinds of insurance you must be covered:

Third-party motor liability insurance

You misjudged when parking – and dented the car behind you. It can happen to anyone. And that is why third-party liability insurance must be taken out for every vehicle in Switzerland. Without it you cannot get a number plate for your vehicle. Third-party motor liability insurance covers damage to other people’s vehicles and loss or injury to people or property that you cause with your car. Partial or fully comprehensive insurance policies cover damage to your own vehicle. Though they are voluntary, they are always worth it. By the way, these provisions also apply to motorcyclists.

Health insurance

Your tooth hurts. You have stomach ache. Your skin itches. At some point, everyone has to see a doctor. To enable you to afford visits to doctors, medication and hospital costs, there is health insurance. And it is required by law in Switzerland. If you come to live in Switzerland, within three months of arriving you must sign up with a health insurance fund. You are in good hands with our partners Sanitas, SWICA and Groupe Mutuel.

Accident insurance

You trip on a cable – and end up in hospital. An accident is painful – but fortunately your pocket will be spared. That is because if you work for the same employer for more than eight hours a week, you are automatically insured through them under obligatory accident insurance. And that applies both on and off the premises. If you work fewer than eight hours a week, you have to take out accident cover privately through your obligatory health insurance. That way an accident does not hurt quite as much.

Insurance policies that are voluntary but still important

Most insurance policies in Switzerland are voluntary, but can still be very useful. That is why we recommend these policies:

Personal liability insurance

This insurance comes into play if you unintentionally cause loss or injury to other people and damage to the property of third parties. You just had your neighbour’s device in your hand – now it is lying on the floor and the screen is cracked. That can happen – and can be expensive. Unless you have personal liability insurance. This covers the costs of loss or injury to persons and damage to the property of third parties that you cause. It is also extremely useful if you rent your home. Our personal liability insurance covers damage caused by you as a tenant. Although it is a voluntary insurance policy, almost all Swiss citizens take it out. For good reason.

Legal protection

A legal dispute can arise more quickly than you think. Conflicts lurk everywhere: on the roads, as a tenant or apartment owner, at work or when shopping online. Experience shows that a legal case not only costs time and nerves, it also quickly gobbles up a lot of money for courts, lawyers and expert opinions. This is where CAP legal protection insurance can help.

Travel insurance

Go off without a care in the world. Anywhere. No matter for how long. With our travel insurance, you are in good hands everywhere. As practical all-round cover for all cases. For the whole world or just for Europe. And, if you wish, for your whole family. All year long.

Buildings insurance

When a chimney fire turns into a room fire. Or a storm causes major damage. As a homeowner, in most cantons you need obligatory buildings insurance. This covers damage from fire and natural hazards. For other cover, such as for water damage, you should take out private buildings insurance. So that an accident does not turn into a disaster.

Private pension schemes

The state pension, providing old-age and survivors’ insurance and disability insurance, is the first pillar of the Swiss pension system. Occupational pension schemes (the second pillar) are organised through employers for their staff. The benefits can vary significantly. Pillar 1 and Pillar 2 are usually insufficient to maintain your standard of living in retirement or to provide for your family when you can no longer do so. That is why it is worthwhile making voluntary provision and paying into a private pension scheme. You can deduct the contributions from tax. The sooner you start, the better. Is Switzerland your permanent place of residence, or a stop-off on your way through life? There are specific solutions for both situations.