Significant Insurance Premium Increase After Moving – Seeking Advice

1

Dear all,

I recently purchased a house and informed my current insurance provider about my move from renting a semi-detached house to owning my own property. At the same time (perhaps I should have waited), I mentioned that I would be terminating my home insurance + liability coverage policy at the end of the contract to join the issuer of my building insurance.

The advisor acknowledged my change but, for the same insurance coverage, adjusted my premium from CHF 330/year to CHF 550/year (more than 50% increase). Does moving to a house alone justify such a sharp increase, or could this be a reaction to my decision to leave the issuer company?

Has anyone experienced a similar situation? How did you handle it?

Looking forward to your insights!

Cheers :slight_smile:

2

What kind of insurance are we talking about?

Typically if you have a premium increase you can quit the contract (check yours), so this means you might not have to wait and can switch now.

1 Like
3

Sorry home insurance including personal liability coverage (in french ménage + RC).

4

The premium for that policy depends on your risk factor, which isn’t the same as a an owner than as a renter. The personal liability part decreased for me when I bought (as my understanding is that renters are more likely to damage the home they live in, which is covered by the policy, than owners are to damage others with their property (and the increased damage that would result for owners doesn’t compensate the higher frequency of claims from renters). It is possible that your house inventory increased with becoming an owner (though you’d have needed to validate that) making the household part more expensive.

I’d check the policy. As nabalzbhf points out, a change in premium is likely a termination option.

3 Likes
5

Thank you for your answer, what bothers me is that they did not even account for a higher inventory coverage, from my understanding, I can terminate my contract if the increase is not regulated by law but that’s very vague.

6

What did the insurance say so far?

7

surely they quote personal liability and household insurance amounts separately, which one is responsible for the big increase, or both increased?

Could be peronal liability as a new/now-owner. If a roof tile blows off and hits someone on the head etc., the owner is responsible.

2 Likes
8

Everything increased but the household insurance increased by 65% while the personal liability by 35%. The covered value of the household insurance changed from 47K to 50.3K (I did not ask), could be a way to put me in another range (from 50 to 100K for instance)?

9

Yeah but in the end its the household insurance that increased the most.

10

General increase of insurance costs in 2024 for all companies + number of claims (but I already went from 300 to 330 for that reason for 2025 before I announced that I moved to a new house so that’s why I don’t get it.