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08/02/2012Insurance in Switzerland 101

Insurance in Switzerland 101 An introduction to compulsory and optional forms of insurance in Switzerland, from health insurance to home insurance in Switzerland.

The Swiss are world leaders in spending on insurance. The average Swiss family spends one-fifth of their household budget on insurance. The following is an introduction to compulsory and optional forms of insurance.

  • Compulsory insurance

Health insurance

This is governed by the Federal Law on Health Insurance. Everyone living in Switzerland is required to have basic health insurance (Soziale Krankenversicherung/Assurance maladie/Assicurazione-Mallatie). There are many different companies offering coverage and individuals are free to choose among them. Premiums vary between insurers, so it’s worth comparing.
    
Many employers offer discounted premiums through a group policy with a health insurer.
    
Basic insurance provides the essential coverage. In addition, each insurer offers supplementary cover that can be taken out on an individual basis (and can be private, semi-private, etc). Again, the benefits and premiums of health insurers can vary.


Accident insurance

In Switzerland, accident insurance is included in the services offered by health insurers. Employees are automatically insured by their employer. This enables you to reduce your premiums accordingly.

Vehicle insurance

The Federal Law on Road Transport requires anyone driving a car or riding a bicycle on the roads to take out liability insurance.

Motor vehicle liability insurance covers all damage caused by you, as the driver of a vehicle, to other road traffic users. Personal injury is insured, as is damage to property. You must present an insurance certificate to the road traffic authorities to receive Swiss licence plates.

  • Optional insurance

Personal liability insurance

This covers any claims against you as a private individual, regardless of whether injury or damage is concerned. It also protects you against unjustified claims.

Household insurance

Household contents are defined as all items in your possession in your house or apartment, on your balcony and in your garden. This form of insurance covers fire and water damage as well as loss through theft.


Accident insurance

Accident cover for members of your family who are not employed can be taken out through your health insurer.

Vehicle insurance

Partial accidental damage insurance covers fire, natural forces, theft, glass breakage, collision with animals and malicious damage. Full accidental damage policies include all the elements of partial damage cover plus collision damage to your own vehicle.
    
Motor vehicle accident insurance

If someone is injured or killed in a road traffic accident, motor vehicle accident insurance provides the occupants of the vehicle with coverage against the financial consequences, even if the liability issue has not yet been resolved.

Credit Suisse / Expatica 


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